Mainstay Correlations

Mutual Funds . USA . 
Fund . Mainstay Sp 500
MSXMX Fund  USD 70.74  0.41  0.58%   
The current 90-days correlation between Mainstay Sp 500 and Mainstay Large Cap is 0.83 (i.e., Very 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

Very poor diversification

The correlation between Mainstay Sp 500 and DJI is 0.82 (i.e., Very poor 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 industry.

Moving together with Mainstay Mutual Fund

  0.85MLACX Mainstay Large CapPairCorr
  0.82MLAAX Mainstay Large CapPairCorr
  0.87MLAIX Mainstay Large CapPairCorr
  0.86MLRMX Mainstay Winslow LargePairCorr
  0.72MMHAX Mainstay High YieldPairCorr
  0.72MMHDX Mainstay High YieldPairCorr
  0.73MMHIX Mainstay High YieldPairCorr
  0.91MMPDX Mainstay Wmc ValuePairCorr
  0.9MMPCX Mainstay Map EquityPairCorr
  0.97MMRAX Mainstay ModeratePairCorr
  0.97MMRCX Mainstay ModeratePairCorr
  0.97MMRIX Mainstay ModeratePairCorr
  0.97MMRSX Mainstay ModeratePairCorr
  0.97MNERX Mainstay Conservative EtfPairCorr
  0.98MNEVX Mainstay Conservative EtfPairCorr
  0.9APSLX Mainstay Fiera SmidPairCorr
  0.98MNEAX Mainstay Conservative EtfPairCorr
  0.91APSDX Mainstay Fiera SmidPairCorr
  0.98MNELX Mainstay Conservative EtfPairCorr
  0.96MNEKX Mainstay Conservative EtfPairCorr
  0.76MNOCX Mainstay New YorkPairCorr
  0.77MNOAX Mainstay New YorkPairCorr
  0.77MNOIX Mainstay New YorkPairCorr
  0.75MNOLX Mainstay Mackay NewPairCorr
  0.91EPLPX Mainstay Epoch EquityPairCorr
  0.91EPLMX Mainstay Epoch EquityPairCorr
  0.9EPLKX Mainstay Epoch EquityPairCorr
  0.91EPLCX Mainstay Epoch EquityPairCorr
  0.93FCGYX Mainstay Pinestone GlobalPairCorr
  0.93EPSYX Mainstay Epoch GlobalPairCorr
  0.91EPSPX Mainstay Epoch GlobalPairCorr
  0.93EPSKX 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
  0.94FCUPX Mainstay Pinestone EquityPairCorr
  0.94FCUDX Mainstay Pinestone EquityPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MLACX  0.62  0.00 (0.04) 0.10  0.73 
(0.70)
 1.28 
(1.41)
 3.38 
MLAAX  0.64  0.08 (0.04)(0.33) 0.77 
(0.67)
 1.24 
(1.40)
 3.50 
MLAIX  0.63  0.00 (0.04) 0.10  0.72 
(0.63)
 1.23 
(1.35)
 3.42 
MLRMX  0.63  0.00 (0.04) 0.10  0.78 
(0.65)
 1.23 
(1.40)
 3.45 
MMHAX  0.21  0.04 (0.25) 3.01  0.00 
(0.38)
 0.61 
(0.36)
 1.06 
MMHDX  0.20  0.04 (0.29) 2.65  0.00 
(0.32)
 0.52 
(0.36)
 1.15 
MMHIX  0.20  0.04 (0.28) 4.38  0.00 
(0.33)
 0.53 
(0.36)
 1.23 
MMPDX  0.49 (0.02)(0.05) 0.08  0.45 
(0.55)
 1.18 
(0.86)
 2.45 
MMPCX  0.49 (0.02)(0.06) 0.08  0.46 
(0.57)
 1.20 
(0.86)
 2.40 
MMRAX  0.29  0.01 (0.12) 0.13  0.17 
(0.33)
 0.69 
(0.50)
 1.61 

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