Mainstay Conservative Correlations

Mutual Funds . USA . 
Fund . Mainstay Servative Allocation
MCKNX Fund  USD 12.15  0.03  0.25%   
The current 90-days correlation between Mainstay Conservative and Harbor Diversified International is 0.74 (i.e., Poor 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

Poor diversification

The correlation between Mainstay Servative Allocation and DJI is 0.69 (i.e., 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 board of governors.

Moving together with Mainstay Mutual Fund

  0.61VWINX Vanguard Wellesley IncomePairCorr
  0.97VWIAX Vanguard Wellesley IncomePairCorr
  0.99BKMIX Blackrock Multi AssetPairCorr
  0.62HBLRX Hartford BalancedPairCorr
  0.98HBLSX Hartford BalancedPairCorr
  0.62HBLVX Hartford BalancedPairCorr
  0.98HBLYX Hartford BalancedPairCorr
  0.98HBLCX Hartford BalancedPairCorr
  0.98HBLIX Hartford BalancedPairCorr
  0.65SMPSX Semiconductor UltrasectorPairCorr
  0.64SMPIX Semiconductor UltrasectorPairCorr
  0.67TREMX T Rowe PricePairCorr
  0.61ONERX One Rock FundPairCorr
  0.64TTEEX T Rowe PricePairCorr
  0.62FIKGX Fidelity Advisor SemPairCorr
  0.62FELIX Fidelity Advisor SemPairCorr
  0.61FSELX Fidelity Select SemiPairCorr
  0.62FELAX Fidelity Advisor SemPairCorr
  0.62FELTX Fidelity Advisor SemPairCorr
  0.62JPM JPMorgan ChasePairCorr
  0.64CVX Chevron CorpPairCorr
  0.63CSCO Cisco SystemsPairCorr

Moving against Mainstay Mutual Fund

  0.62MCD McDonaldsPairCorr
  0.4TRV The Travelers CompaniesPairCorr

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 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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