Mainstay Large Correlations

MLACX Fund

USD 4.69 0.02 0.42%

The current 90-days correlation between Mainstay Large Cap and California Municipal Portfolio is -0.07 (i.e., Good diversification). The correlation of Mainstay Large 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 Large Correlation With Market

Significant diversification

The correlation between Mainstay Large Cap and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Large Cap 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 Large Cap. 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 main economic indicators.

Moving together with Mainstay Mutual Fund

0.65	FAFGX	American Funds	Pair Corr
0.65	FFAFX	American Funds	Pair Corr
0.65	GFACX	Growth Fund	Pair Corr
0.65	GFAFX	Growth Fund	Pair Corr
0.65	AGTHX	Growth Fund	Pair Corr
0.65	CGFFX	Growth Fund	Pair Corr
0.65	CGFCX	Growth Fund	Pair Corr
0.65	CGFAX	Growth Fund	Pair Corr
0.65	CGFEX	Growth Fund	Pair Corr
0.65	RGAEX	Growth Fund	Pair Corr
0.72	SMPIX	Semiconductor Ultrasector	Pair Corr
0.72	SMPSX	Semiconductor Ultrasector	Pair Corr
0.71	FIKGX	Fidelity Advisor Sem	Pair Corr
0.66	ONERX	One Rock Fund	Pair Corr
0.66	RMQAX	Monthly Rebalance	Pair Corr
0.66	RMQHX	Monthly Rebalance	Pair Corr
0.66	RMQCX	Monthly Rebalance	Pair Corr
0.71	FELCX	Fidelity Advisor Sem	Pair Corr
0.62	BAC	Bank of America Earnings Call This Week	Pair Corr
0.66	CVX	Chevron Corp	Pair Corr
0.62	GE	GE Aerospace	Pair Corr
0.68	MSFT	Microsoft	Pair Corr
0.66	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.63	JPM	JPMorgan Chase Earnings Call Tomorrow	Pair Corr

Moving against Mainstay Mutual Fund

0.65	MCD	McDonalds	Pair Corr
0.57	KO	Coca Cola Earnings Call This Week	Pair Corr
0.41	PG	Procter Gamble	Pair Corr
0.33	VZ	Verizon Communications Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SNCAX	NSIOX	PRVBX	TSDUX	ARTFX	PBNAX	JAFLX
SNCAX		0.95	0.82	0.88	0.89	0.85	0.81	SNCAX
NSIOX	0.95		0.7	0.76	0.8	0.75	0.71	NSIOX
PRVBX	0.82	0.7		0.84	0.79	0.95	0.94	PRVBX
TSDUX	0.88	0.76	0.84		0.95	0.87	0.79	TSDUX
ARTFX	0.89	0.8	0.79	0.95		0.82	0.74	ARTFX
PBNAX	0.85	0.75	0.95	0.87	0.82		0.99	PBNAX
JAFLX	0.81	0.71	0.94	0.79	0.74	0.99		JAFLX
	SNCAX	NSIOX	PRVBX	TSDUX	ARTFX	PBNAX	JAFLX

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 Large 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 Large'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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SNCAX	0.15	0.02	(0.54)	0.01	0.28	(0.16)	0.22	(0.52)	2.01
NSIOX	0.26	0.02	(0.37)	0.08	0.47	(0.33)	0.52	(0.84)	3.60
PRVBX	0.10	0.02	(1.45)	6.01	0.00	(0.11)	0.21	(0.17)	0.82
TSDUX	0.04	0.01	0.00	(1.03)	0.00	0.00	0.10	0.00	0.10
ARTFX	0.14	0.06	(0.99)	0.97	0.00	(0.23)	0.55	(0.11)	0.91
PBNAX	0.23	0.01	(0.74)	0.78	0.21	(0.25)	0.52	(0.43)	1.31
JAFLX	0.27	0.01	(0.65)	1.72	0.27	(0.30)	0.52	(0.52)	1.46

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