Mainstay High Correlations

Mutual Funds . USA . 
Fund . Mainstay High Yield
MMHAX Fund  USD 11.64  0.01  0.09%   
The correlation of Mainstay High 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 High Correlation With Market

Significant diversification

The correlation between Mainstay High Yield and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay High Yield 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 High Yield. 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 nation.

Moving together with Mainstay Mutual Fund

  0.71MLACX Mainstay Large CapPairCorr
  0.69MLAAX Mainstay Large CapPairCorr
  0.72MLAIX Mainstay Large CapPairCorr
  0.72MLRMX Mainstay Winslow LargePairCorr
  1.0MMHDX Mainstay High YieldPairCorr
  1.0MMHIX Mainstay High YieldPairCorr
  0.67MMPDX Mainstay Wmc ValuePairCorr
  0.66MMPCX Mainstay Map EquityPairCorr
  0.79MMRAX Mainstay ModeratePairCorr
  0.79MMRCX Mainstay ModeratePairCorr
  0.79MMRIX Mainstay ModeratePairCorr
  0.79MMRSX Mainstay ModeratePairCorr
  0.82MNERX Mainstay Conservative EtfPairCorr
  0.81MNEVX Mainstay Conservative EtfPairCorr
  0.63APSLX Mainstay Fiera SmidPairCorr
  0.81MNEAX Mainstay Conservative EtfPairCorr
  0.63APSDX Mainstay Fiera SmidPairCorr
  0.81MNELX Mainstay Conservative EtfPairCorr
  0.82MNEKX Mainstay Conservative EtfPairCorr
  1.0MNOCX Mainstay New YorkPairCorr
  1.0MNOAX Mainstay New YorkPairCorr
  1.0MNOIX Mainstay New YorkPairCorr
  1.0MNOLX Mainstay Mackay NewPairCorr
  0.65EPLPX Mainstay Epoch EquityPairCorr
  0.65EPLMX Mainstay Epoch EquityPairCorr
  0.64EPLKX Mainstay Epoch EquityPairCorr
  0.65EPLCX Mainstay Epoch EquityPairCorr
  0.86FCGYX Mainstay Pinestone GlobalPairCorr
  0.69EPSYX Mainstay Epoch GlobalPairCorr
  0.69EPSPX Mainstay Epoch GlobalPairCorr
  0.69EPSKX Mainstay Epoch GlobalPairCorr
  0.76MOEAX Mainstay Growth EtfPairCorr
  0.76MOECX Mainstay Growth EtfPairCorr
  0.76MOEIX Mainstay Growth EtfPairCorr
  0.76MOERX Mainstay Growth EtfPairCorr
  0.76MOEVX Mainstay Growth EtfPairCorr
  0.72FCUPX Mainstay Pinestone EquityPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay High 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 High'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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