Mainstay Balanced Correlations

Mutual Funds . USA . 
Fund . Mainstay Balanced Fund
MBNAX Fund  USD 31.22  0.03  0.1%   
The current 90-days correlation between Mainstay Balanced and Goehring Rozencwajg Resources is 0.06 (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

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 nation.

Moving together with Mainstay Mutual Fund

  0.97MLACX Mainstay Large CapPairCorr
  0.96MLAAX Mainstay Large CapPairCorr
  0.98MLAIX Mainstay Large CapPairCorr
  0.98MLRMX Mainstay Winslow LargePairCorr
  1.0MMPDX Mainstay Wmc ValuePairCorr
  0.95MMPCX Mainstay Map EquityPairCorr
  0.97MMRAX Mainstay ModeratePairCorr
  0.97MMRCX Mainstay ModeratePairCorr
  0.97MMRIX Mainstay ModeratePairCorr
  0.97MMRSX Mainstay ModeratePairCorr
  0.97MNERX Mainstay Conservative EtfPairCorr
  0.99MNEVX Mainstay Conservative EtfPairCorr
  0.95APSLX Mainstay Fiera SmidPairCorr
  0.97MNEAX Mainstay Conservative EtfPairCorr
  0.96APSDX Mainstay Fiera SmidPairCorr
  0.99MNELX Mainstay Conservative EtfPairCorr
  0.97MNEKX Mainstay Conservative EtfPairCorr
  0.96EPLPX Mainstay Epoch EquityPairCorr
  0.99EPLMX Mainstay Epoch EquityPairCorr
  0.99EPLKX Mainstay Epoch EquityPairCorr
  0.99EPLCX Mainstay Epoch EquityPairCorr
  0.97FCGYX Mainstay Pinestone GlobalPairCorr
  0.99EPSYX Mainstay Epoch GlobalPairCorr
  0.99EPSPX Mainstay Epoch GlobalPairCorr
  0.96EPSKX Mainstay Epoch GlobalPairCorr
  0.85FCIKX Mainstay PinestonePairCorr
  0.87FCICX Mainstay PinestonePairCorr
  0.97MOEAX 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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