Mainstay Correlations

Mutual Funds . USA . 
Fund . Mainstay Sp 500
MSXAX Fund  USD 69.12  1.03  1.51%   
The current 90-days correlation between Mainstay Sp 500 and Gmo High Yield is 0.74 (i.e., Poor diversification). The correlation of Mainstay 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 Correlation With Market

Almost no diversification

The correlation between Mainstay Sp 500 and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Sp 500 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 Sp 500. 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

  0.96MLACX Mainstay Large CapPairCorr
  0.96MLAAX Mainstay Large CapPairCorr
  0.96MLAIX Mainstay Large CapPairCorr
  0.96MLRMX Mainstay Winslow LargePairCorr
  0.95MMPDX Mainstay Wmc ValuePairCorr
  0.94MMPCX Mainstay Map EquityPairCorr
  0.99MMRAX Mainstay ModeratePairCorr
  0.99MMRCX Mainstay ModeratePairCorr
  0.99MMRIX Mainstay ModeratePairCorr
  0.99MMRSX Mainstay ModeratePairCorr
  0.99MNERX Mainstay Conservative EtfPairCorr
  0.99MNEVX Mainstay Conservative EtfPairCorr
  0.91APSLX Mainstay Fiera SmidPairCorr
  0.99MNEAX Mainstay Conservative EtfPairCorr
  0.92APSDX Mainstay Fiera SmidPairCorr
  0.99MNELX Mainstay Conservative EtfPairCorr
  0.99MNEKX Mainstay Conservative EtfPairCorr
  0.96EPLPX Mainstay Epoch EquityPairCorr
  0.96EPLMX Mainstay Epoch EquityPairCorr
  0.96EPLKX Mainstay Epoch EquityPairCorr
  0.96EPLCX Mainstay Epoch EquityPairCorr
  0.94FCGYX Mainstay Pinestone GlobalPairCorr
  0.96EPSYX Mainstay Epoch GlobalPairCorr
  0.96EPSPX Mainstay Epoch GlobalPairCorr
  0.96EPSKX Mainstay Epoch GlobalPairCorr
  0.99MOEAX Mainstay Growth EtfPairCorr
  0.99MOECX Mainstay Growth EtfPairCorr
  0.99MOEIX Mainstay Growth EtfPairCorr
  0.99MOERX Mainstay Growth EtfPairCorr
  0.99MOEVX Mainstay Growth EtfPairCorr
  0.96FCUPX Mainstay Pinestone EquityPairCorr

Moving against Mainstay Mutual Fund

  0.36MMHDX Mainstay High YieldPairCorr
  0.37FCICX Mainstay PinestonePairCorr
  0.34FCIKX Mainstay PinestonePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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