Mainstay Map Correlations

Mutual Funds . USA . 
Fund . Mainstay Map Equity
MUBFX Fund  USD 33.96  0.26  0.77%   
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 0.94 (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 census.

Moving together with Mainstay Mutual Fund

  0.96MLACX Mainstay Large CapPairCorr
  0.96MLAAX Mainstay Large CapPairCorr
  0.98MLAIX Mainstay Large CapPairCorr
  0.98MLRMX Mainstay Winslow LargePairCorr
  1.0MMPCX Mainstay Map EquityPairCorr
  0.97MMRAX Mainstay ModeratePairCorr
  0.96MMRCX Mainstay ModeratePairCorr
  0.99MMRIX Mainstay ModeratePairCorr
  0.99MNERX Mainstay Conservative EtfPairCorr
  0.96MNEVX Mainstay Conservative EtfPairCorr
  0.96APSLX Mainstay Fiera SmidPairCorr
  0.96MNEAX Mainstay Conservative EtfPairCorr
  0.98MNELX Mainstay Conservative EtfPairCorr
  0.95MNEKX Mainstay Conservative EtfPairCorr
  0.96EPLPX Mainstay Epoch EquityPairCorr
  0.99EPLMX Mainstay Epoch EquityPairCorr
  0.99EPLKX Mainstay Epoch EquityPairCorr
  0.99EPLCX Mainstay Epoch EquityPairCorr
  0.97FCGYX Mainstay Pinestone GlobalPairCorr
  0.98EPSYX Mainstay Epoch GlobalPairCorr
  0.96EPSPX Mainstay Epoch GlobalPairCorr
  0.96EPSKX Mainstay Epoch GlobalPairCorr
  0.82FCIKX Mainstay PinestonePairCorr
  0.81FCICX Mainstay PinestonePairCorr
  0.95MOEAX Mainstay Growth EtfPairCorr
  0.99MOECX Mainstay Growth EtfPairCorr
  0.99MOEIX Mainstay Growth EtfPairCorr
  0.96MOERX Mainstay Growth EtfPairCorr
  0.99MOEVX Mainstay Growth EtfPairCorr
  0.97FCUPX Mainstay Pinestone EquityPairCorr
  0.97FCUDX Mainstay Pinestone EquityPairCorr
  0.97FCUCX Mainstay Pinestone EquityPairCorr
  0.94MOPCX Mainstay Epoch SmallPairCorr
  0.92MOPAX Mainstay Epoch SmallPairCorr
  0.81VCRCX Mainstay Cbre GlobalPairCorr

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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