Mainstay Pinestone Correlations

Mutual Funds . USA . 
Fund . Mainstay Pinestone Global
FCGYX Fund   20.26  0.11  0.55%   
The current 90-days correlation between Mainstay Pinestone Global and Rbc Bluebay Emerging is 0.2 (i.e., Modest diversification). The correlation of Mainstay Pinestone 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 Pinestone Correlation With Market

Almost no diversification

The correlation between Mainstay Pinestone Global 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 Pinestone Global and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Mainstay Pinestone Global. 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 manufacturing.

Moving together with Mainstay Mutual Fund

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