Mainstay Income Correlations

Mutual Funds . USA . 
Fund . Mainstay Income Builder
MCTRX Fund  USD 21.83  0.04  0.18%   
The current 90-days correlation between Mainstay Income Builder and Mainstay Large Cap is 0.74 (i.e., Poor diversification). The correlation of Mainstay Income 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 Income Correlation With Market

Very poor diversification

The correlation between Mainstay Income Builder and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Income Builder 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 Income Builder. 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

  0.99MLACX Mainstay Large CapPairCorr
  0.99MLAAX Mainstay Large CapPairCorr
  0.99MLAIX Mainstay Large CapPairCorr
  0.99MLRMX Mainstay Winslow LargePairCorr
  0.98MMPDX Mainstay Wmc ValuePairCorr
  0.98MMPCX Mainstay Map EquityPairCorr
  0.99MMRAX Mainstay ModeratePairCorr
  0.99MMRCX Mainstay ModeratePairCorr
  0.99MMRIX Mainstay ModeratePairCorr
  0.99MMRSX Mainstay ModeratePairCorr
  1.0MNERX Mainstay Conservative EtfPairCorr
  1.0MNEVX Mainstay Conservative EtfPairCorr
  0.95APSLX Mainstay Fiera SmidPairCorr
  1.0MNEAX Mainstay Conservative EtfPairCorr
  0.96APSDX Mainstay Fiera SmidPairCorr
  1.0MNELX Mainstay Conservative EtfPairCorr
  1.0MNEKX Mainstay Conservative EtfPairCorr
  0.99EPLPX Mainstay Epoch EquityPairCorr
  0.99EPLMX Mainstay Epoch EquityPairCorr
  0.99EPLKX Mainstay Epoch EquityPairCorr
  0.99EPLCX Mainstay Epoch EquityPairCorr
  0.96FCGYX Mainstay Pinestone GlobalPairCorr
  1.0EPSYX Mainstay Epoch GlobalPairCorr
  1.0EPSPX Mainstay Epoch GlobalPairCorr
  1.0EPSKX Mainstay Epoch GlobalPairCorr
  0.88FCIKX Mainstay PinestonePairCorr
  0.88FCICX Mainstay PinestonePairCorr
  0.99MOEAX Mainstay Growth EtfPairCorr
  0.99MOECX Mainstay Growth EtfPairCorr
  0.99MOEIX Mainstay Growth EtfPairCorr
  0.99MOERX Mainstay Growth EtfPairCorr
  0.99MOEVX Mainstay Growth EtfPairCorr
  0.95FCUPX Mainstay Pinestone EquityPairCorr

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 Income 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 Income'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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