Mainstay Conservative Correlations

Mutual Funds . USA . 
Fund . Mainstay Servative Allocation
MCKAX Fund  USD 12.10  0.04  0.33%   
The current 90-days correlation between Mainstay Conservative and Mainstay Large Cap is 0.79 (i.e., Poor diversification). The correlation of Mainstay Conservative 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 Conservative Correlation With Market

Very poor diversification

The correlation between Mainstay Servative Allocation and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Servative Allocation 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 Servative Allocation. 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

  0.99MLACX Mainstay Large CapPairCorr
  0.99MLAAX Mainstay Large CapPairCorr
  0.99MLAIX Mainstay Large CapPairCorr
  0.99MLRMX Mainstay Winslow LargePairCorr
  1.0MMRAX Mainstay ModeratePairCorr
  1.0MMRCX Mainstay ModeratePairCorr
  1.0MNERX Mainstay Conservative EtfPairCorr
  1.0MNEVX Mainstay Conservative EtfPairCorr
  0.97APSLX Mainstay Fiera SmidPairCorr
  1.0MNEAX Mainstay Conservative EtfPairCorr
  0.97APSDX Mainstay Fiera SmidPairCorr
  1.0MNELX Mainstay Conservative EtfPairCorr
  1.0MNEKX Mainstay Conservative EtfPairCorr
  0.99EPLPX 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
  0.99EPSKX Mainstay Epoch GlobalPairCorr
  0.99MOEVX Mainstay Growth EtfPairCorr
  0.95FCUPX Mainstay Pinestone EquityPairCorr
  0.95FCUDX Mainstay Pinestone EquityPairCorr
  0.95MOPCX Mainstay Epoch SmallPairCorr
  0.88VCRCX Mainstay Cbre GlobalPairCorr
  0.89VCRAX Voya Cbre GlobalPairCorr
  0.89VCRIX Voya Cbre GlobalPairCorr
  0.67MSCAX Mainstay California TaxPairCorr
  0.98MAPAX Mainstay Map EquityPairCorr
  0.99MSPIX Mainstay Sp 500PairCorr
  0.99MBACX Mainstay BalancedPairCorr
  0.99MBAIX Mainstay BalancedPairCorr
  0.96MSTIX Mainstay Tax AdvantagedPairCorr
  0.99MSXAX Mainstay Sp 500PairCorr
  0.97ICEVX Mainstay Epoch InterPairCorr
  0.97ICEUX Mainstay Epoch InterPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Conservative 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 Conservative'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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MLACX  0.81  0.20  0.16  0.33  0.59 
(1.01)
 2.62 
(1.48)
 5.67 
MLAAX  0.83  0.20  0.18  0.32  0.62 
(1.03)
 2.65 
(1.33)
 5.62 
MLAIX  0.83  0.20  0.18  0.32  0.61 
(1.01)
 2.62 
(1.30)
 5.64 
MLRMX  0.83  0.20  0.18  0.32  0.59 
(1.01)
 2.58 
(1.42)
 5.68 
MMHAX  0.19 (0.03) 0.00 (0.27) 0.00 
 0.00 
 0.45 
(0.44)
 1.42 
MMHDX  0.20 (0.03) 0.00 (0.38) 0.00 
 0.00 
 0.36 
(0.44)
 1.33 
MMHIX  0.20 (0.02) 0.00 (0.27) 0.00 
 0.00 
 0.45 
(0.44)
 1.42 
MMPDX  0.61  0.01 (0.02) 0.14  0.61 
(0.66)
 1.62 
(0.98)
 4.45 
MMPCX  0.60  0.00 (0.03) 0.13  0.63 
(0.68)
 1.61 
(0.97)
 4.45 
MMRAX  0.35  0.07  0.00  0.27  0.25 
(0.40)
 1.11 
(0.78)
 2.51 

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