Mainstay Pinestone Correlations

Mutual Funds . USA . 
Fund . Mainstay Pinestone International
FCIKX Fund   17.22  0.01  0.06%   
The current 90-days correlation between Mainstay Pinestone and Rationalpier 88 Convertible is 0.36 (i.e., Weak 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

Very weak diversification

The correlation between Mainstay Pinestone Internation and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Pinestone Internation 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 International. 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

  0.8RERFX Europacific GrowthPairCorr
  0.8AEPFX Europacific GrowthPairCorr
  0.82CEUAX Europacific GrowthPairCorr
  0.81CEUCX Europacific GrowthPairCorr
  0.8RERCX Europacific GrowthPairCorr
  0.8REREX Europacific GrowthPairCorr
  0.8RERGX Europacific GrowthPairCorr
  0.8CEUFX Europacific GrowthPairCorr
  0.8CEUEX Europacific GrowthPairCorr
  0.81RERAX Europacific GrowthPairCorr
  0.66SMPSX Semiconductor UltrasectorPairCorr
  0.65SMPIX Semiconductor UltrasectorPairCorr
  0.62TREMX T Rowe PricePairCorr
  0.63ONERX One Rock FundPairCorr
  0.62TTEEX T Rowe PricePairCorr
  0.68FIKGX Fidelity Advisor SemPairCorr
  0.68FELIX Fidelity Advisor SemPairCorr
  0.68FSELX Fidelity Select SemiPairCorr
  0.68FELAX Fidelity Advisor SemPairCorr
  0.68FELTX Fidelity Advisor SemPairCorr
  0.85RIVKX American Funds InterPairCorr
  0.78FDEGX Fidelity Growth StraPairCorr
  0.61BAC Bank of America Aggressive PushPairCorr
  0.67DIS Walt DisneyPairCorr
  0.65CSCO Cisco SystemsPairCorr
  0.61GE GE AerospacePairCorr

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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