Mainstay Conservative Correlations

MCKIX Fund

USD 12.25 0.02 0.16%

The current 90-days correlation between Mainstay Conservative and John Hancock Var is 0.54 (i.e., Very weak 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 weak diversification

The correlation between Mainstay Servative Allocation and DJI is 0.48 (i.e., Very weak 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 gross domestic product.

Moving together with MAINSTAY Mutual Fund

0.98	MLACX	Mainstay Large Cap	Pair Corr
0.88	MLAAX	Mainstay Large Cap	Pair Corr
0.88	MLAIX	Mainstay Large Cap	Pair Corr
0.98	MLRMX	Mainstay Winslow Large	Pair Corr
0.62	MMHIX	Mainstay High Yield	Pair Corr
0.98	MMPDX	Mainstay Wmc Value	Pair Corr
0.98	MMPCX	Mainstay Map Equity	Pair Corr
1.0	MMRAX	Mainstay Moderate	Pair Corr
1.0	MMRCX	Mainstay Moderate	Pair Corr
1.0	MNERX	Mainstay Conservative Etf	Pair Corr
1.0	MNEVX	Mainstay Conservative Etf	Pair Corr
1.0	MNEAX	Mainstay Conservative Etf	Pair Corr
0.97	APSDX	Mainstay Fiera Smid	Pair Corr
0.65	MNELX	Mainstay Conservative Etf	Pair Corr
0.98	EPLMX	Mainstay Epoch Equity	Pair Corr
0.98	EPLKX	Mainstay Epoch Equity	Pair Corr
0.98	EPLCX	Mainstay Epoch Equity	Pair Corr
0.89	EPSYX	Mainstay Epoch Global	Pair Corr
0.88	EPSPX	Mainstay Epoch Global	Pair Corr
0.99	EPSKX	Mainstay Epoch Global	Pair Corr
0.85	FCICX	Mainstay Pinestone	Pair Corr
0.89	MOEAX	Mainstay Growth Etf	Pair Corr
0.99	MOECX	Mainstay Growth Etf	Pair Corr
0.99	MOEIX	Mainstay Growth Etf	Pair Corr
0.89	MOERX	Mainstay Growth Etf	Pair Corr
0.99	MOEVX	Mainstay Growth Etf	Pair Corr
0.93	FCUPX	Mainstay Pinestone Equity	Pair Corr
0.93	FCUDX	Mainstay Pinestone Equity	Pair Corr
0.92	FCUCX	Mainstay Pinestone Equity	Pair Corr
0.83	MOPAX	Mainstay Epoch Small	Pair Corr
0.87	VCRCX	Mainstay Cbre Global	Pair Corr
0.82	VCRAX	Voya Cbre Global	Pair Corr
0.82	VCRIX	Voya Cbre Global	Pair Corr
0.98	MAPAX	Mainstay Map Equity	Pair Corr
0.93	MASAX	Mainstay Unconstrained	Pair Corr
0.68	MSOAX	Mainstay Mon Stock	Pair Corr
0.98	MSPIX	Mainstay Sp 500	Pair Corr

Related Correlations Analysis

	JEHSX	SWHFX	AHSCX	GTHCX	HHCZX	RAGHX	VGHCX
JEHSX		0.57	0.59	0.93	0.39	0.49	0.68	JEHSX
SWHFX	0.57		0.54	0.42	-0.08	0.63	0.9	SWHFX
AHSCX	0.59	0.54		0.68	0.67	0.86	0.77	AHSCX
GTHCX	0.93	0.42	0.68		0.54	0.56	0.61	GTHCX
HHCZX	0.39	-0.08	0.67	0.54		0.5	0.25	HHCZX
RAGHX	0.49	0.63	0.86	0.56	0.5		0.79	RAGHX
VGHCX	0.68	0.9	0.77	0.61	0.25	0.79		VGHCX
	JEHSX	SWHFX	AHSCX	GTHCX	HHCZX	RAGHX	VGHCX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

GTHCX	+ 0.93	JEHSX
VGHCX	+ 0.9	SWHFX
RAGHX	+ 0.86	AHSCX
VGHCX	+ 0.79	RAGHX
VGHCX	+ 0.77	AHSCX
VGHCX	+ 0.68	JEHSX

High negative correlations

HHCZX

- 0.08

SWHFX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JEHSX	1.18	(0.10)	0.00	(0.05)	0.00	0.00	2.28	(2.73)	9.82
SWHFX	1.04	(0.06)	0.00	0.52	0.00	0.00	1.70	(2.56)	7.05
AHSCX	0.86	(0.01)	0.00	0.19	0.00	0.00	1.42	(1.85)	6.51
GTHCX	0.96	(0.09)	0.00	(0.04)	0.00	0.00	1.66	(2.37)	7.55
HHCZX	0.23	0.03	(0.10)	0.22	0.20	(0.27)	0.54	(0.48)	1.99
RAGHX	1.12	(0.01)	0.00	0.15	0.00	0.00	2.15	(2.56)	9.59
VGHCX	1.09	(0.04)	0.00	0.34	0.00	0.00	1.91	(2.65)	7.19

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