Mainstay Servative Correlations

MCKIX Fund  USD 12.33  0.02  0.16%   
The current 90-days correlation between Mainstay Servative and Six Circles Credit is 0.68 (i.e., Poor diversification). The correlation of Mainstay Servative is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Mainstay Servative Correlation With Market

Very good diversification

The correlation between Mainstay Servative Allocation and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Servative Allocation and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mainstay Servative Allocation. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Mainstay Mutual Fund

  0.97VWINX Vanguard Wellesley IncomePairCorr
  0.85VWIAX Vanguard Wellesley IncomePairCorr
  0.87BKMIX Blackrock Multi AssetPairCorr
  0.86HBLTX Hartford BalancedPairCorr
  0.98HBLRX Hartford BalancedPairCorr
  0.98HBLSX Hartford BalancedPairCorr
  0.98HBLVX Hartford BalancedPairCorr
  0.98HBLYX Hartford BalancedPairCorr
  0.98HBLCX Hartford BalancedPairCorr
  0.86HBLIX Hartford BalancedPairCorr
  0.63CAT CaterpillarPairCorr

Moving against Mainstay Mutual Fund

  0.45TRV The Travelers CompaniesPairCorr
  0.37HPQ HP IncPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Servative Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Mainstay Servative's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.