Mainstay Map Correlations

Mutual Funds . USA . 
Fund . Mainstay Map Equity
MSMIX Fund  USD 30.84  0.01  0.03%   
The current 90-days correlation between Mainstay Map Equity and Vanguard Financials Index is 0.9 (i.e., Almost no diversification). The correlation of Mainstay Map 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 Map Correlation With Market

Almost no diversification

The correlation between Mainstay Map Equity and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Map Equity 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 Map Equity. 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 gross domestic product.

Moving together with Mainstay Mutual Fund

  0.7MKINX Mainstay Tax FreePairCorr
  0.98MLGRX Mainstay Large CapPairCorr
  0.98MLINX Mainstay Large CapPairCorr
  0.98MLRTX Mainstay Large CapPairCorr
  0.98MLRSX Mainstay Large CapPairCorr
  0.98MLRRX Mainstay Large CapPairCorr
  0.99MMRDX Mainstay ModeratePairCorr
  0.99EPLIX Mainstay Epoch EquityPairCorr
  0.99EPLDX Mainstay Epoch EquityPairCorr
  0.98EPSRX Mainstay Epoch GlobalPairCorr
  0.98EPSIX Mainstay Epoch GlobalPairCorr
  0.95MOINX Mainstay Epoch SmallPairCorr
  0.87VCRVX Mainstay Cbre GlobalPairCorr
  0.87VCRQX Mainstay Cbre GlobalPairCorr
  0.68MSODX Mainstay Mackay CaliPairCorr
  1.0MBERX Mainstay BalancedPairCorr
  0.89MSYEX Mainstay Mackay UncoPairCorr
  0.88MSYDX Mainstay UnconstrainedPairCorr
  1.0MBINX Mainstay BalancedPairCorr
  0.94ICELX Mainstay Epoch InterPairCorr
  0.74MTBDX Mainstay Mackay TaxPairCorr
  0.9MTFEX Mainstay Mackay StrategicPairCorr
  0.91MTFDX Mainstay Mackay StrategicPairCorr
  0.92MTFHX Mainstay Mackay StrategicPairCorr
  0.91MTFFX Mainstay Mackay StrategicPairCorr
  0.98MTINX Mainstay Income BuilderPairCorr
  0.71MTMNX Mainstay Total ReturnPairCorr
  0.98MTODX Mainstay Income BuilderPairCorr
  0.74MTRDX Mainstay Total ReturnPairCorr
  0.98KLGNX Mainstay Nerstone GrowthPairCorr
  0.98MCINX Mainstay ConvertiblePairCorr
  0.98MCKNX Mainstay ConservativePairCorr
  0.65MCSSX Mainstay Mon StockPairCorr
  0.96MCYAX 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 Map 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 Map'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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