Mainstay Balanced Correlations

Mutual Funds . USA . 
Fund . Mainstay Balanced Fund
MBINX Fund  USD 31.36  0.20  0.64%   
The current 90-days correlation between Mainstay Balanced and T Rowe Price is 0.01 (i.e., Significant 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

Good diversification

The correlation between Mainstay Balanced Fund and DJI is -0.18 (i.e., Good 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 board of governors.

Moving together with Mainstay Mutual Fund

  0.66MKINX Mainstay Tax FreePairCorr
  0.96MLGRX Mainstay Large CapPairCorr
  0.98MLINX Mainstay Large CapPairCorr
  0.98MLRTX Mainstay Large CapPairCorr
  0.96MLRSX Mainstay Large CapPairCorr
  0.96MLRRX Mainstay Large CapPairCorr
  0.99MMRDX Mainstay ModeratePairCorr
  0.96EPLIX Mainstay Epoch EquityPairCorr
  0.97EPLDX Mainstay Epoch EquityPairCorr
  0.97EPSRX Mainstay Epoch GlobalPairCorr
  0.99EPSIX Mainstay Epoch GlobalPairCorr
  0.95MOINX Mainstay Epoch SmallPairCorr
  0.86VCRVX Mainstay Cbre GlobalPairCorr
  0.87VCRQX Mainstay Cbre GlobalPairCorr
  1.0MSMIX Mainstay Map EquityPairCorr
  1.0MBERX Mainstay BalancedPairCorr
  0.93ICELX Mainstay Epoch InterPairCorr
  0.68MTBDX Mainstay Mackay TaxPairCorr
  0.9MTFEX Mainstay Mackay StrategicPairCorr
  0.91MTFDX Mainstay Mackay StrategicPairCorr
  0.92MTFHX Mainstay Mackay StrategicPairCorr
  0.99MTINX Mainstay Income BuilderPairCorr
  0.75MTMNX Mainstay Total ReturnPairCorr
  0.96MCINX Mainstay ConvertiblePairCorr
  0.99MCKNX Mainstay ConservativePairCorr
  0.96MCYIX Mainstay CandriamPairCorr
  0.95MCYSX Mainstay CandriamPairCorr
  0.95MCYVX Mainstay CandriamPairCorr
  0.97MECVX Mainstay Epoch CapitalPairCorr
  0.97MXFEX Mainstay Floating RatePairCorr
  0.96MXFNX Mainstay Floating RatePairCorr
  0.99MGDNX Mainstay Moderate GrowthPairCorr
  0.96MGXNX Mainstay Growth AlloPairCorr
  0.69CRVRX Mainstay Cbre RealPairCorr
  0.99MYSPX Mainstay Sp 500PairCorr

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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