Mainstay Large Correlations

Mutual Funds . USA . 
Fund . Mainstay Large Cap
MLRRX Fund  USD 12.24  0.03  0.25%   
The current 90-days correlation between Mainstay Large Cap and Fabwx is 0.93 (i.e., Almost no 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

Very poor diversification

The correlation between Mainstay Large Cap and DJI is 0.8 (i.e., Very poor 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 metropolitan statistical area.

Moving together with Mainstay Mutual Fund

  1.0MLGRX Mainstay Large CapPairCorr
  0.99MLINX Mainstay Large CapPairCorr
  0.99MLRTX Mainstay Large CapPairCorr
  1.0MLRSX Mainstay Large CapPairCorr
  0.98MMRDX Mainstay ModeratePairCorr
  0.95EPLIX Mainstay Epoch EquityPairCorr
  0.98EPLDX Mainstay Epoch EquityPairCorr
  0.99EPSRX Mainstay Epoch GlobalPairCorr
  0.98EPSIX Mainstay Epoch GlobalPairCorr
  0.92MOINX Mainstay Epoch SmallPairCorr
  0.83VCRVX Mainstay Cbre GlobalPairCorr
  0.83VCRQX Mainstay Cbre GlobalPairCorr
  0.96MSMIX Mainstay Map EquityPairCorr
  0.96MBERX Mainstay BalancedPairCorr
  0.89MSYEX Mainstay Mackay UncoPairCorr
  0.87MSYDX Mainstay UnconstrainedPairCorr
  0.96MBINX Mainstay BalancedPairCorr
  0.95ICELX Mainstay Epoch InterPairCorr
  0.63MTBDX Mainstay Mackay TaxPairCorr
  0.87MTFEX Mainstay Mackay StrategicPairCorr
  0.88MTFDX Mainstay Mackay StrategicPairCorr
  0.89MTFHX Mainstay Mackay StrategicPairCorr
  0.88MTFFX Mainstay Mackay StrategicPairCorr
  0.98MTINX Mainstay Income BuilderPairCorr
  0.69MTMNX Mainstay Total ReturnPairCorr
  0.98MTODX Mainstay Income BuilderPairCorr
  0.72MTRDX Mainstay Total ReturnPairCorr
  0.99KLGNX Mainstay Nerstone GrowthPairCorr
  0.99MCINX Mainstay ConvertiblePairCorr
  0.98MCKNX Mainstay ConservativePairCorr
  0.97MCYAX Mainstay CandriamPairCorr
  0.97MCYCX Mainstay CandriamPairCorr

Related Correlations Analysis

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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.

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