Mainstay Balanced Correlations

Mutual Funds . USA . 
Fund . Mainstay Balanced Fund
MBERX Fund  USD 31.32  0.06  0.19%   
The current 90-days correlation between Mainstay Balanced and Columbia Diversified Equity is 0.93 (i.e., Almost no 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 0.92 (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 metropolitan statistical area.

Moving together with Mainstay Mutual Fund

  0.72MKINX Mainstay Tax FreePairCorr
  0.98MLGRX Mainstay Large CapPairCorr
  0.98MLINX Mainstay Large CapPairCorr
  0.98MLRTX Mainstay Large CapPairCorr
  0.98MLRSX Mainstay Large CapPairCorr
  0.98MLRRX Mainstay Large CapPairCorr
  0.99MMRDX Mainstay ModeratePairCorr
  0.99EPLIX Mainstay Epoch EquityPairCorr
  0.99EPLDX Mainstay Epoch EquityPairCorr
  0.99EPSRX Mainstay Epoch GlobalPairCorr
  0.99EPSIX Mainstay Epoch GlobalPairCorr
  0.95MOINX Mainstay Epoch SmallPairCorr
  0.87VCRVX Mainstay Cbre GlobalPairCorr
  0.88VCRQX Mainstay Cbre GlobalPairCorr
  1.0MSMIX Mainstay Map EquityPairCorr
  0.68MSODX Mainstay Mackay CaliPairCorr
  0.92MSYEX Mainstay Mackay UncoPairCorr
  0.91MSYDX Mainstay UnconstrainedPairCorr
  1.0MBINX Mainstay BalancedPairCorr
  0.94ICELX Mainstay Epoch InterPairCorr
  0.75MTBDX Mainstay Mackay TaxPairCorr
  0.91MTFEX Mainstay Mackay StrategicPairCorr
  0.92MTFDX Mainstay Mackay StrategicPairCorr
  0.93MTFHX Mainstay Mackay StrategicPairCorr
  0.93MTFFX Mainstay Mackay StrategicPairCorr
  0.99MTINX Mainstay Income BuilderPairCorr
  0.76MTMNX Mainstay Total ReturnPairCorr
  0.99MTODX Mainstay Income BuilderPairCorr
  0.79MTRDX Mainstay Total ReturnPairCorr
  0.98KLGNX Mainstay Nerstone GrowthPairCorr
  0.98MCINX Mainstay ConvertiblePairCorr
  0.99MCKNX Mainstay ConservativePairCorr
  0.61MCSSX Mainstay Mon StockPairCorr
  0.97MCYAX Mainstay CandriamPairCorr

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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