Mainstay Servative Correlations

MCKIX Fund

USD 12.89 0.03 0.23%

The current 90-days correlation between Mainstay Servative and Sprott Gold Equity is 0.38 (i.e., Weak 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 poor diversification

The correlation between Mainstay Servative Allocation and DJI is 0.83 (i.e., Very poor 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

0.66	MLAIX	Mainstay Large Cap	Pair Corr
0.63	MLRMX	Mainstay Winslow Large	Pair Corr
0.7	MMPDX	Mainstay Wmc Value	Pair Corr
0.65	MMPCX	Mainstay Map Equity	Pair Corr
0.99	MMRAX	Mainstay Moderate	Pair Corr
0.98	MMRCX	Mainstay Moderate	Pair Corr
0.99	MMRIX	Mainstay Moderate	Pair Corr
0.99	MMRSX	Mainstay Moderate	Pair Corr
0.99	MNERX	Mainstay Conservative Etf	Pair Corr
0.99	MNEVX	Mainstay Conservative Etf	Pair Corr
0.83	APSLX	Mainstay Fiera Smid	Pair Corr
0.99	MNEAX	Mainstay Conservative Etf	Pair Corr
0.84	APSDX	Mainstay Fiera Smid	Pair Corr
0.99	MNELX	Mainstay Conservative Etf	Pair Corr
0.86	MNEKX	Mainstay Conservative Etf	Pair Corr
0.67	EPLPX	Mainstay Epoch Equity	Pair Corr
0.73	EPLMX	Mainstay Epoch Equity	Pair Corr
0.72	EPLKX	Mainstay Epoch Equity	Pair Corr
0.73	EPLCX	Mainstay Epoch Equity	Pair Corr
0.75	FCGYX	Mainstay Pinestone Global	Pair Corr
0.75	EPSYX	Mainstay Epoch Global	Pair Corr
0.74	EPSPX	Mainstay Epoch Global	Pair Corr
0.74	EPSKX	Mainstay Epoch Global	Pair Corr
0.96	MOEAX	Mainstay Growth Etf	Pair Corr
0.96	MOECX	Mainstay Growth Etf	Pair Corr
0.97	MOEIX	Mainstay Growth Etf	Pair Corr
0.96	MOERX	Mainstay Growth Etf	Pair Corr
0.96	MOEVX	Mainstay Growth Etf	Pair Corr

Moving against Mainstay Mutual Fund

0.5

MLACX

Mainstay Large Cap

Pair Corr

Related Correlations Analysis

	SGDLX	GLRBX	EPGFX	VGSBX	IOGYX	UNWPX	OGMCX
SGDLX		0.57	0.89	0.34	0.92	0.93	0.98	SGDLX
GLRBX	0.57		0.51	0.47	0.51	0.54	0.55	GLRBX
EPGFX	0.89	0.51		0.2	0.97	0.89	0.89	EPGFX
VGSBX	0.34	0.47	0.2		0.3	0.18	0.25	VGSBX
IOGYX	0.92	0.51	0.97	0.3		0.87	0.91	IOGYX
UNWPX	0.93	0.54	0.89	0.18	0.87		0.93	UNWPX
OGMCX	0.98	0.55	0.89	0.25	0.91	0.93		OGMCX
	SGDLX	GLRBX	EPGFX	VGSBX	IOGYX	UNWPX	OGMCX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SGDLX	1.71	0.36	0.13	0.43	2.30	(1.77)	3.76	(3.84)	11.52
GLRBX	0.42	0.00	(0.04)	0.06	0.74	(0.43)	0.76	(0.62)	7.21
EPGFX	1.72	0.19	0.05	0.49	2.52	(1.75)	3.61	(4.11)	11.04
VGSBX	0.16	0.00	(0.24)	(0.14)	0.15	(0.20)	0.32	(0.32)	0.96
IOGYX	1.73	0.29	0.10	0.61	2.36	(1.77)	4.23	(3.94)	12.06
UNWPX	2.07	0.21	0.07	0.22	2.86	(2.13)	3.93	(4.84)	11.53
OGMCX	1.74	0.29	0.10	0.33	2.32	(1.77)	4.23	(3.95)	12.07

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