Mainstay Moderate Correlations

MMRSX Fund

USD 14.95 0.06 0.40%

The current 90-days correlation between Mainstay Moderate and Mainstay Large Cap is 0.2 (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 0.86 (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 real.

Moving together with Mainstay Mutual Fund

0.86	MMRAX	Mainstay Moderate	Pair Corr
0.83	MMRCX	Mainstay Moderate	Pair Corr
1.0	MMRIX	Mainstay Moderate	Pair Corr
0.92	MNERX	Mainstay Conservative Etf	Pair Corr
0.98	MNEVX	Mainstay Conservative Etf	Pair Corr
0.84	APSLX	Mainstay Fiera Smid	Pair Corr
0.82	MNEAX	Mainstay Conservative Etf	Pair Corr
0.82	MNELX	Mainstay Conservative Etf	Pair Corr
0.94	MNEKX	Mainstay Conservative Etf	Pair Corr
0.62	EPLPX	Mainstay Epoch Equity	Pair Corr
0.73	EPLMX	Mainstay Epoch Equity	Pair Corr
0.71	EPLKX	Mainstay Epoch Equity	Pair Corr
0.72	EPLCX	Mainstay Epoch Equity	Pair Corr
0.75	FCGYX	Mainstay Pinestone Global	Pair Corr
0.75	EPSYX	Mainstay Epoch Global	Pair Corr
0.68	EPSPX	Mainstay Epoch Global	Pair Corr
0.74	EPSKX	Mainstay Epoch Global	Pair Corr
0.92	MOEAX	Mainstay Growth Etf	Pair Corr
0.92	MOECX	Mainstay Growth Etf	Pair Corr
0.83	MOEIX	Mainstay Growth Etf	Pair Corr
0.82	MOERX	Mainstay Growth Etf	Pair Corr
0.83	MOEVX	Mainstay Growth Etf	Pair Corr
0.78	MOPCX	Mainstay Epoch Small	Pair Corr
0.78	MOPIX	Mainstay Epoch Small	Pair Corr

Moving against Mainstay Mutual Fund

0.4

MLACX

Mainstay Large Cap

Pair Corr

Related Correlations Analysis

	MLACX	MLAAX	MLAIX	MLRMX	MMHAX	MMHDX	MMHIX	MMPDX	MMPCX	MMRAX
MLACX		-0.97	-0.95	-0.97	-0.19	-0.04	-0.18	-0.95	-0.97	-0.42	MLACX
MLAAX	-0.97		1.0	1.0	0.25	0.1	0.24	0.94	0.97	0.57	MLAAX
MLAIX	-0.95	1.0		1.0	0.26	0.11	0.25	0.94	0.96	0.58	MLAIX
MLRMX	-0.97	1.0	1.0		0.24	0.09	0.23	0.95	0.97	0.54	MLRMX
MMHAX	-0.19	0.25	0.26	0.24		0.93	1.0	0.27	0.25	0.47	MMHAX
MMHDX	-0.04	0.1	0.11	0.09	0.93		0.93	0.11	0.09	0.48	MMHDX
MMHIX	-0.18	0.24	0.25	0.23	1.0	0.93		0.26	0.24	0.48	MMHIX
MMPDX	-0.95	0.94	0.94	0.95	0.27	0.11	0.26		0.99	0.55	MMPDX
MMPCX	-0.97	0.97	0.96	0.97	0.25	0.09	0.24	0.99		0.53	MMPCX
MMRAX	-0.42	0.57	0.58	0.54	0.47	0.48	0.48	0.55	0.53		MMRAX
	MLACX	MLAAX	MLAIX	MLRMX	MMHAX	MMHDX	MMHIX	MMPDX	MMPCX	MMRAX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MLAIX	+ 1.0	MLAAX
MLRMX	+ 1.0	MLAAX
MLRMX	+ 1.0	MLAIX
MMHIX	+ 1.0	MMHAX
MMPCX	+ 0.99	MMPDX
MMPCX	+ 0.97	MLAAX

High negative correlations

MMPCX	- 0.97	MLACX
MLRMX	- 0.97	MLACX
MLAAX	- 0.97	MLACX
MMPDX	- 0.95	MLACX
MLAIX	- 0.95	MLACX
MMRAX	- 0.42	MLACX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MLACX	1.78	(0.78)	0.00	(0.59)	0.00	0.00	1.63	(2.20)	45.82
MLAAX	1.38	0.37	0.26	0.50	0.87	(1.66)	1.96	(2.03)	33.56
MLAIX	1.19	0.27	0.20	0.36	0.92	(1.42)	2.02	(1.98)	24.56
MLRMX	1.47	0.48	0.34	0.61	0.69	(1.82)	2.04	(1.96)	37.55
MMHAX	0.10	0.01	(0.37)	0.37	0.00	(0.17)	0.26	(0.17)	0.69
MMHDX	0.10	0.00	(0.39)	(0.50)	0.00	(0.16)	0.26	(0.17)	0.86
MMHIX	0.10	0.01	(0.30)	(1.23)	0.00	(0.16)	0.34	(0.17)	0.86
MMPDX	0.62	0.09	0.11	0.17	0.60	(0.71)	1.35	(1.04)	5.61
MMPCX	0.70	0.17	0.19	0.28	0.48	(0.83)	1.32	(1.07)	10.63
MMRAX	0.35	0.01	(0.08)	0.15	0.47	(0.34)	0.75	(0.61)	1.97

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