Mainstay Conservative Correlations

Mutual Funds . USA . 
Fund . Mainstay Servative Allocation
MCKIX Fund  USD 12.33  0.02  0.16%   
The current 90-days correlation between Mainstay Conservative and Rational Dividend Capture is -0.12 (i.e., Good diversification). The correlation of Mainstay Conservative 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 Conservative Correlation With Market

Very poor diversification

The correlation between Mainstay Servative Allocation and DJI is 0.87 (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

  0.97EPSKX Mainstay Epoch GlobalPairCorr
  1.0MCKSX Mainstay ConservativePairCorr
  1.0MDAKX Mainstay Moderate EtfPairCorr
  0.99MGDCX Mainstay Moderate GrowthPairCorr
  0.62CRCRX Voya Real EstatePairCorr
  0.97VWINX Vanguard Wellesley IncomePairCorr
  0.95VWIAX Vanguard Wellesley IncomePairCorr
  0.98BKMIX Blackrock Multi AssetPairCorr
  0.96HBLTX Hartford BalancedPairCorr
  0.98HBLRX Hartford BalancedPairCorr
  0.98HBLSX Hartford BalancedPairCorr
  0.98HBLVX Hartford BalancedPairCorr
  0.98HBLYX Hartford BalancedPairCorr
  0.98HBLCX Hartford BalancedPairCorr
  0.96HBLIX Hartford BalancedPairCorr
  0.65RYMEX Commodities StrategyPairCorr
  0.65RYMJX Commodities StrategyPairCorr
  0.65RYMBX Commodities StrategyPairCorr
  0.88BRUFX Bruce Fund BrucePairCorr
  0.97SPGSX State Street PremierPairCorr
  0.93KF Korea ClosedPairCorr
  0.82VCRCX Mainstay Cbre GlobalPairCorr
  0.96ETGLX Eventide GileadPairCorr
  0.96GSFSX Goldman Sachs ShortPairCorr
  0.97MDIKX Mfs InternationalPairCorr
  0.88HSSIX Emerald Banking AndPairCorr
  0.9TSFIX Touchstone Small CapPairCorr
  0.98BEMIX Brandes Emerging MarketsPairCorr
  0.98TEMUX Emerging Markets EquityPairCorr
  0.95TRACX Prudential Qma SmallPairCorr
  0.96CRF Cornerstone StrategicPairCorr
  0.98TBLPX T Rowe PricePairCorr
  0.97LAMQX Lord Abbett CalibratedPairCorr
  0.98PAXGX Pax Global OpportunitiesPairCorr
  0.83HJPIX Hennessy Japan Steady GrowthPairCorr
  0.98JORCX Janus Global SelectPairCorr
  0.96AMIDX Amana Developing WorldPairCorr
  0.97EKGIX Wells Fargo GlobalPairCorr
  0.85FISAX Franklin AdjustablePairCorr
  0.99CPHNX Columbia Capital AllPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Conservative 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 Conservative'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.

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