Mainstay Moderate Correlations

Mutual Funds . USA . 
Fund . Mainstay Moderate Allocation
MMRDX Fund  USD 14.19  0.02  0.14%   
The current 90-days correlation between Mainstay Moderate and Mainstay Tax Free is 0.25 (i.e., Modest diversification). The correlation of Mainstay Moderate 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 Moderate Correlation With Market

Very poor diversification

The correlation between Mainstay Moderate Allocation and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Moderate Allocation 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 Moderate 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 unemployment.

Moving together with Mainstay Mutual Fund

  0.71MKINX Mainstay Tax FreePairCorr
  0.99MLGRX Mainstay Large CapPairCorr
  0.99MLINX Mainstay Large CapPairCorr
  0.99MLRTX Mainstay Large CapPairCorr
  0.99MLRSX Mainstay Large CapPairCorr
  0.99MLRRX Mainstay Large CapPairCorr
  0.99EPLIX Mainstay Epoch EquityPairCorr
  0.99EPLDX Mainstay Epoch EquityPairCorr
  0.99EPSRX Mainstay Epoch GlobalPairCorr
  0.99EPSIX Mainstay Epoch GlobalPairCorr
  0.95MOINX Mainstay Epoch SmallPairCorr
  0.89VCRVX Mainstay Cbre GlobalPairCorr
  0.89VCRQX Mainstay Cbre GlobalPairCorr
  0.61MSCVX Mainstay California TaxPairCorr
  0.99MSMIX Mainstay Map EquityPairCorr
  0.69MSODX Mainstay Mackay CaliPairCorr
  0.99MBERX Mainstay BalancedPairCorr
  0.91MSYEX Mainstay Mackay UncoPairCorr
  0.9MSYDX Mainstay UnconstrainedPairCorr
  0.99MBINX Mainstay BalancedPairCorr
  0.96ICELX Mainstay Epoch InterPairCorr
  0.75MTBDX Mainstay Mackay TaxPairCorr
  0.91MTFEX Mainstay Mackay StrategicPairCorr
  0.92MTFDX Mainstay Mackay StrategicPairCorr
  0.93MTFHX Mainstay Mackay StrategicPairCorr
  0.93MTFFX Mainstay Mackay StrategicPairCorr
  0.99MTINX Mainstay Income BuilderPairCorr
  0.73MTMNX Mainstay Total ReturnPairCorr
  0.99MTODX Mainstay Income BuilderPairCorr
  0.75MTRDX Mainstay Total ReturnPairCorr
  0.99KLGNX Mainstay Nerstone GrowthPairCorr
  0.99MCINX Mainstay ConvertiblePairCorr
  1.0MCKNX Mainstay ConservativePairCorr
  0.62MCSSX Mainstay Mon StockPairCorr
  0.97MCYAX Mainstay CandriamPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Moderate 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 Moderate'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MKINX  0.14 (0.01)(0.49)(0.03) 0.15 
(0.20)
 0.34 
(0.33)
 1.00 
MLGRX  0.83  0.19  0.18  0.32  0.65 
(0.99)
 2.52 
(1.40)
 5.74 
MLINX  0.83  0.20  0.18  0.32  0.60 
(0.99)
 2.55 
(1.30)
 5.60 
MLRTX  0.83  0.20  0.18  0.32  0.61 
(1.06)
 2.59 
(1.26)
 5.53 
MLRSX  0.83  0.20  0.19  0.33  0.62 
(0.99)
 2.57 
(1.34)
 5.60 
MLRRX  0.83  0.20  0.19  0.32  0.61 
(1.01)
 2.61 
(1.39)
 5.60 
MMHEX  0.19 (0.03) 0.00 (0.28) 0.00 
 0.00 
 0.45 
(0.45)
 1.51 
MMHVX  0.19 (0.03) 0.00 (0.29) 0.00 
 0.00 
 0.45 
(0.44)
 1.51 
MMRDX  0.35  0.07  0.00  0.27  0.25 
(0.38)
 1.03 
(0.84)
 2.50 
MNODX  0.17 (0.02) 0.00 (0.27) 0.00 
 0.00 
 0.44 
(0.33)
 1.20 

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