Mainstay Conservative Correlations

Mutual Funds . USA . 
Fund . Mainstay Conservative Allocation
MCKSX Fund  USD 12.08  0.02  0.17%   
The current 90-days correlation between Mainstay Conservative and Guggenheim High Yield is -0.05 (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 Conservative Allocati 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 Conservative Allocati 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 Conservative 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 state.

Moving together with Mainstay Mutual Fund

  0.98MMRCX Mainstay ModeratePairCorr
  0.98MNERX Mainstay Conservative EtfPairCorr
  0.98MNEVX Mainstay Conservative EtfPairCorr
  0.95APSDX Mainstay Fiera SmidPairCorr
  0.98MNELX Mainstay Conservative EtfPairCorr
  0.98MNEKX Mainstay Conservative EtfPairCorr
  0.97EPLPX Mainstay Epoch EquityPairCorr
  0.97EPLKX Mainstay Epoch EquityPairCorr
  0.97EPLCX Mainstay Epoch EquityPairCorr
  0.94FCGYX Mainstay Pinestone GlobalPairCorr
  0.98EPSYX Mainstay Epoch GlobalPairCorr
  0.98EPSPX Mainstay Epoch GlobalPairCorr
  0.98EPSKX Mainstay Epoch GlobalPairCorr
  0.92FCUPX Mainstay Pinestone EquityPairCorr
  0.92FCUDX Mainstay Pinestone EquityPairCorr
  0.64MSCAX Mainstay California TaxPairCorr
  0.69MSPIX Mainstay Sp 500PairCorr
  0.95ICEVX Mainstay Epoch InterPairCorr
  0.95ICEUX Mainstay Epoch InterPairCorr
  0.61MTBAX Mainstay Tax FreePairCorr

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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