Mainstay Fiera Correlations

Mutual Funds . USA . 
Fund . Mainstay Fiera Smid
APSDX Fund   16.73  0.18  1.09%   
The current 90-days correlation between Mainstay Fiera Smid and Northern Small Cap is 0.94 (i.e., Almost no diversification). The correlation of Mainstay Fiera 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 Fiera Correlation With Market

Almost no diversification

The correlation between Mainstay Fiera Smid and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Fiera Smid and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Mainstay Fiera Smid. 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 unemployment.

Moving together with Mainstay Mutual Fund

  0.98MLACX Mainstay Large CapPairCorr
  0.98MLAAX Mainstay Large CapPairCorr
  0.98MLAIX Mainstay Large CapPairCorr
  0.98MLRMX Mainstay Winslow LargePairCorr
  0.95MMPDX Mainstay Wmc ValuePairCorr
  0.95MMPCX Mainstay Map EquityPairCorr
  0.99MMRAX Mainstay ModeratePairCorr
  0.99MMRCX Mainstay ModeratePairCorr
  0.99MMRIX Mainstay ModeratePairCorr
  0.99MMRSX Mainstay ModeratePairCorr
  0.98MNERX Mainstay Conservative EtfPairCorr
  0.98MNEVX Mainstay Conservative EtfPairCorr
  1.0APSLX Mainstay Fiera SmidPairCorr
  0.98MNEAX Mainstay Conservative EtfPairCorr
  0.97MNELX Mainstay Conservative EtfPairCorr
  0.98MNEKX Mainstay Conservative EtfPairCorr
  0.96EPLPX Mainstay Epoch EquityPairCorr
  0.96EPLMX Mainstay Epoch EquityPairCorr
  0.96EPLKX Mainstay Epoch EquityPairCorr
  0.96EPLCX Mainstay Epoch EquityPairCorr
  0.97FCGYX Mainstay Pinestone GlobalPairCorr
  0.98EPSYX Mainstay Epoch GlobalPairCorr
  0.98EPSPX Mainstay Epoch GlobalPairCorr
  0.97EPSKX Mainstay Epoch GlobalPairCorr
  0.96FCIKX Mainstay PinestonePairCorr
  0.96FCICX Mainstay PinestonePairCorr
  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
  0.95FCUPX Mainstay Pinestone EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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