Mainstay Pinestone Correlations

Mutual Funds . USA . 
Fund . Mainstay Pinestone International
FCIKX Fund   17.72  0.25  1.43%   
The current 90-days correlation between Mainstay Pinestone and Alpine Ultra Short is -0.02 (i.e., Good 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

Good diversification

The correlation between Mainstay Pinestone Internation and DJI is -0.1 (i.e., Good 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

  0.9MLACX Mainstay Large CapPairCorr
  0.92MLAAX Mainstay Large CapPairCorr
  0.89MLAIX Mainstay Large CapPairCorr
  0.9MLRMX Mainstay Winslow LargePairCorr
  0.93MMPDX Mainstay Wmc ValuePairCorr
  0.89MMPCX Mainstay Map EquityPairCorr
  0.95MMRAX Mainstay ModeratePairCorr
  0.93MMRCX Mainstay ModeratePairCorr
  0.92MMRIX Mainstay ModeratePairCorr
  0.92MMRSX Mainstay ModeratePairCorr
  0.91MNERX Mainstay Conservative EtfPairCorr
  0.91MNEVX Mainstay Conservative EtfPairCorr
  0.93APSLX Mainstay Fiera SmidPairCorr
  0.93MNEAX Mainstay Conservative EtfPairCorr
  0.93APSDX Mainstay Fiera SmidPairCorr
  0.91MNELX Mainstay Conservative EtfPairCorr
  0.94MNEKX Mainstay Conservative EtfPairCorr
  0.92EPLPX Mainstay Epoch EquityPairCorr
  0.89EPLMX Mainstay Epoch EquityPairCorr
  0.89EPLKX Mainstay Epoch EquityPairCorr
  0.89EPLCX Mainstay Epoch EquityPairCorr
  0.92FCGYX Mainstay Pinestone GlobalPairCorr
  0.92EPSYX Mainstay Epoch GlobalPairCorr
  0.94EPSPX Mainstay Epoch GlobalPairCorr
  0.91EPSKX Mainstay Epoch GlobalPairCorr
  0.97FCICX Mainstay PinestonePairCorr
  0.95MOEAX Mainstay Growth EtfPairCorr
  0.92MOECX Mainstay Growth EtfPairCorr
  0.92MOEIX Mainstay Growth EtfPairCorr
  0.92MOERX Mainstay Growth EtfPairCorr
  0.92MOEVX Mainstay Growth EtfPairCorr
  0.88FCUPX 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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