Mainstay Servative Correlations

Mutual Funds . USA . 
Fund . Mainstay Servative Allocation
MCKNX Fund  USD 12.17  0.02  0.16%   
The current 90-days correlation between Mainstay Servative and Smallcap Fund Fka is -0.06 (i.e., Good 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

Good diversification

The correlation between Mainstay Servative Allocation and DJI is -0.02 (i.e., 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 board of governors.

Moving together with Mainstay Mutual Fund

  0.98MLGRX Mainstay Large CapPairCorr
  0.99MLINX Mainstay Large CapPairCorr
  0.99MLRTX Mainstay Large CapPairCorr
  0.98MLRSX Mainstay Large CapPairCorr
  0.98MLRRX Mainstay Large CapPairCorr
  0.98MMRDX Mainstay ModeratePairCorr
  0.99EPLIX Mainstay Epoch EquityPairCorr
  0.98EPLDX Mainstay Epoch EquityPairCorr
  0.98EPSRX Mainstay Epoch GlobalPairCorr
  0.99EPSIX Mainstay Epoch GlobalPairCorr
  0.94MOINX Mainstay Epoch SmallPairCorr
  0.85VCRVX Mainstay Cbre GlobalPairCorr
  0.86VCRQX Mainstay Cbre GlobalPairCorr
  0.98MSMIX Mainstay Map EquityPairCorr
  0.97MBERX Mainstay BalancedPairCorr
  0.92MSYEX Mainstay Mackay UncoPairCorr
  0.92MSYDX Mainstay UnconstrainedPairCorr
  0.99MBINX Mainstay BalancedPairCorr
  0.94ICELX Mainstay Epoch InterPairCorr
  0.61MTBDX Mainstay Mackay TaxPairCorr
  0.88MTFEX Mainstay Mackay StrategicPairCorr
  0.89MTFDX Mainstay Mackay StrategicPairCorr
  0.91MTFHX Mainstay Mackay StrategicPairCorr
  0.89MTFFX Mainstay Mackay StrategicPairCorr
  1.0MTINX Mainstay Income BuilderPairCorr
  0.76MTMNX Mainstay Total ReturnPairCorr
  0.98MTODX Mainstay Income BuilderPairCorr
  0.75MTRDX Mainstay Total ReturnPairCorr
  0.98KLGNX Mainstay Nerstone GrowthPairCorr
  0.99MCINX Mainstay VertiblePairCorr
  0.97MCYAX Mainstay CandriamPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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