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

0.97	VWINX	Vanguard Wellesley Income	Pair Corr
0.85	VWIAX	Vanguard Wellesley Income	Pair Corr
0.87	BKMIX	Blackrock Multi Asset	Pair Corr
0.86	HBLTX	Hartford Balanced	Pair Corr
0.98	HBLRX	Hartford Balanced	Pair Corr
0.98	HBLSX	Hartford Balanced	Pair Corr
0.98	HBLVX	Hartford Balanced	Pair Corr
0.98	HBLYX	Hartford Balanced	Pair Corr
0.98	HBLCX	Hartford Balanced	Pair Corr
0.86	HBLIX	Hartford Balanced	Pair Corr
0.63	CAT	Caterpillar	Pair Corr

Moving against Mainstay Mutual Fund

0.45	TRV	The Travelers Companies	Pair Corr
0.37	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	CRDOX	DNHYX	NHIEX	LSYFX	PHDTX	MZHIX	PYRLX	BHYRX
CRDOX		0.92	0.91	0.99	0.6	1.0	0.91	0.99	CRDOX
DNHYX	0.92		0.99	0.9	0.55	0.91	1.0	0.89	DNHYX
NHIEX	0.91	0.99		0.9	0.56	0.91	0.98	0.9	NHIEX
LSYFX	0.99	0.9	0.9		0.64	0.98	0.89	0.99	LSYFX
PHDTX	0.6	0.55	0.56	0.64		0.6	0.54	0.62	PHDTX
MZHIX	1.0	0.91	0.91	0.98	0.6		0.91	0.99	MZHIX
PYRLX	0.91	1.0	0.98	0.89	0.54	0.91		0.89	PYRLX
BHYRX	0.99	0.89	0.9	0.99	0.62	0.99	0.89		BHYRX
	CRDOX	DNHYX	NHIEX	LSYFX	PHDTX	MZHIX	PYRLX	BHYRX

Click cells to compare fundamentals

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CRDOX	0.10	0.05	(1.36)	3.93	(0.17)	0.23	(0.11)	0.80
DNHYX	0.14	0.03	(1.13)	0.45	(0.20)	0.24	(0.12)	1.19
NHIEX	0.14	0.03	(1.18)	0.56	(0.22)	0.40	(0.13)	0.91
LSYFX	0.14	0.06	(1.00)	2.23	(0.21)	0.42	(0.20)	1.27
PHDTX	0.12	0.06	(0.78)	(3.12)	(0.18)	0.34	(0.23)	0.92
MZHIX	0.12	0.04	(0.92)	3.01	(0.19)	0.26	(0.13)	0.90
PYRLX	0.12	0.03	(1.06)	0.48	(0.18)	0.32	(0.16)	1.05
BHYRX	0.13	0.05	(1.07)	2.54	(0.23)	0.43	(0.14)	1.00

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