Mainstay Balanced Correlations

Mutual Funds . USA . 
Fund . Mainstay Balanced Fund
MBAIX Fund  USD 31.35  0.16  0.51%   
The current 90-days correlation between Mainstay Balanced and Rbc Emerging Markets is -0.25 (i.e., Very good diversification). The correlation of Mainstay Balanced 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 Balanced Correlation With Market

Almost no diversification

The correlation between Mainstay Balanced Fund 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 Balanced Fund 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 Balanced Fund. 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 gross domestic product.

Moving together with Mainstay Mutual Fund

  0.95MLACX Mainstay Large CapPairCorr
  0.95MLAAX Mainstay Large CapPairCorr
  0.98MLAIX Mainstay Large CapPairCorr
  0.98MLRMX Mainstay Winslow LargePairCorr
  1.0MMPDX Mainstay Wmc ValuePairCorr
  1.0MMPCX Mainstay Map EquityPairCorr
  0.94MMRAX Mainstay ModeratePairCorr
  0.99MMRCX Mainstay ModeratePairCorr
  0.99MMRIX Mainstay ModeratePairCorr
  0.99MMRSX Mainstay ModeratePairCorr
  0.99MNERX Mainstay Conservative EtfPairCorr
  0.99MNEVX Mainstay Conservative EtfPairCorr
  0.98APSLX Mainstay Fiera SmidPairCorr
  0.94MNEAX Mainstay Conservative EtfPairCorr
  0.98APSDX Mainstay Fiera SmidPairCorr
  0.99MNELX Mainstay Conservative EtfPairCorr
  0.94MNEKX Mainstay Conservative EtfPairCorr
  0.93EPLPX Mainstay Epoch EquityPairCorr
  0.99EPLMX Mainstay Epoch EquityPairCorr
  0.93EPLKX Mainstay Epoch EquityPairCorr
  0.99EPLCX Mainstay Epoch EquityPairCorr
  0.97FCGYX Mainstay Pinestone GlobalPairCorr
  0.99EPSYX Mainstay Epoch GlobalPairCorr
  0.94EPSPX Mainstay Epoch GlobalPairCorr
  0.99EPSKX Mainstay Epoch GlobalPairCorr
  0.89FCIKX Mainstay PinestonePairCorr
  0.89FCICX Mainstay PinestonePairCorr
  0.95MOEAX Mainstay Growth EtfPairCorr
  0.99MOECX Mainstay Growth EtfPairCorr
  0.99MOEIX Mainstay Growth EtfPairCorr
  0.99MOERX Mainstay Growth EtfPairCorr
  0.99MOEVX Mainstay Growth EtfPairCorr
  0.96FCUPX 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 Balanced 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 Balanced'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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