Mainstay Moderate Correlations

Mutual Funds . USA . 
Fund . Mainstay Moderate Growth
MGDCX Fund  USD 15.59  0.01  0.06%   
The current 90-days correlation between Mainstay Moderate Growth and Mainstay Large Cap is 0.06 (i.e., Significant diversification). The correlation of Mainstay Moderate 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 Moderate Correlation With Market

Almost no diversification

The correlation between Mainstay Moderate Growth and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Moderate Growth 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 Moderate Growth. 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 main economic indicators.

Moving together with Mainstay Mutual Fund

  0.73MLACX Mainstay Large CapPairCorr
  0.73MLAAX Mainstay Large CapPairCorr
  0.73MLAIX Mainstay Large CapPairCorr
  0.73MLRMX Mainstay Winslow LargePairCorr
  0.99MMPDX Mainstay Wmc ValuePairCorr
  0.72MMPCX Mainstay Map EquityPairCorr
  0.73MMRAX Mainstay ModeratePairCorr
  0.73MMRCX Mainstay ModeratePairCorr
  0.98MMRIX Mainstay ModeratePairCorr
  0.98MMRSX Mainstay ModeratePairCorr
  0.71MNERX Mainstay Conservative EtfPairCorr
  0.71MNEVX Mainstay Conservative EtfPairCorr
  0.71APSLX Mainstay Fiera SmidPairCorr
  0.71MNEAX Mainstay Conservative EtfPairCorr
  0.71APSDX Mainstay Fiera SmidPairCorr
  0.71MNELX Mainstay Conservative EtfPairCorr
  0.71MNEKX Mainstay Conservative EtfPairCorr
  0.7EPLPX Mainstay Epoch EquityPairCorr
  0.99EPLMX Mainstay Epoch EquityPairCorr
  0.69EPLKX Mainstay Epoch EquityPairCorr
  0.69EPLCX Mainstay Epoch EquityPairCorr
  0.73FCGYX Mainstay Pinestone GlobalPairCorr
  0.71EPSYX Mainstay Epoch GlobalPairCorr
  0.71EPSPX Mainstay Epoch GlobalPairCorr
  0.71EPSKX Mainstay Epoch GlobalPairCorr
  0.74FCIKX Mainstay PinestonePairCorr
  0.91FCICX Mainstay PinestonePairCorr
  0.98MOEAX Mainstay Growth EtfPairCorr
  0.72MOECX Mainstay Growth EtfPairCorr
  1.0MOEIX Mainstay Growth EtfPairCorr
  1.0MOERX Mainstay Growth EtfPairCorr
  0.72MOEVX Mainstay Growth EtfPairCorr
  0.69FCUPX 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 Moderate 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 Moderate'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  0.75  0.43  0.35  41.08  0.00 
(1.01)
 2.62 
(0.97)
 5.67 
MLAAX  0.77  0.00  0.38  0.00  0.00 
(1.03)
 2.65 
(1.08)
 5.62 
MLAIX  0.78  0.43  0.40  11.66  0.00 
(1.01)
 2.62 
(1.05)
 5.64 
MLRMX  0.77  0.43  0.38 (115.95) 0.00 
(1.01)
 2.58 
(1.05)
 5.68 
MMHAX  0.18 (0.01)(0.49)(0.10) 0.19 
(0.29)
 0.45 
(0.44)
 1.42 
MMHDX  0.18 (0.03) 0.00 (0.15) 0.00 
 0.00 
 0.36 
(0.44)
 1.33 
MMHIX  0.18 (0.03) 0.00 (0.10) 0.00 
 0.00 
 0.45 
(0.36)
 1.42 
MMPDX  0.61  0.01 (0.02) 0.14  0.61 
(0.66)
 1.62 
(0.98)
 4.45 
MMPCX  0.58  0.19  0.05 (0.81) 0.45 
(0.68)
 1.61 
(0.96)
 4.45 
MMRAX  0.33  0.16  0.04 (2.47) 0.00 
(0.41)
 1.11 
(0.63)
 2.51 

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