Mainstay Large Correlations

Mutual Funds . USA . 
Fund . Mainstay Large Cap
MLRTX Fund  USD 10.27  0.09  0.87%   
The current 90-days correlation between Mainstay Large Cap and Jennison Natural Resources is 0.12 (i.e., Average 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 weak diversification

The correlation between Mainstay Large Cap and DJI is 0.57 (i.e., Very weak 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 estimate.

Moving together with Mainstay Mutual Fund

  0.99FAFGX American FundsPairCorr
  0.99FFAFX American FundsPairCorr
  0.99GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  0.99AGTHX Growth FundPairCorr
  0.99CGFFX Growth FundPairCorr
  0.99CGFCX Growth FundPairCorr
  0.99CGFAX Growth FundPairCorr
  0.99CGFEX Growth FundPairCorr
  0.99RGAEX Growth FundPairCorr
  0.89PFN Pimco Income StrategyPairCorr
  0.92CIF Mfs Intermediate HighPairCorr
  0.92PCF Putnam High IncomePairCorr
  0.68JPM JPMorgan ChasePairCorr
  0.74IBM International BusinessPairCorr
  0.69CSCO Cisco SystemsPairCorr
  0.65BAC Bank of America Aggressive PushPairCorr
  0.61GE GE AerospacePairCorr
  0.64DIS Walt DisneyPairCorr
  0.67CVX Chevron CorpPairCorr

Moving against Mainstay Mutual Fund

  0.74XNBHX Neuberger Berman IntPairCorr
  0.73XDSMX Dreyfus StrategicPairCorr
  0.65MCD McDonaldsPairCorr
  0.54XNXJX Nuveen New JerseyPairCorr
  0.48XPPRX Voya Prime RatePairCorr

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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