Mainstay Moderate Correlations

MGDNX Fund  USD 15.91  0.01  0.06%   
The current 90-days correlation between Mainstay Moderate Growth and Mainstay Tax Free is 0.21 (i.e., Modest 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

Good diversification

The correlation between Mainstay Moderate Growth and DJI is -0.12 (i.e., Good 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 board of governors.

Moving together with Mainstay Mutual Fund

  0.7MKINX Mainstay Tax FreePairCorr
  0.98MLGRX Mainstay Large CapPairCorr
  0.99MLINX Mainstay Large CapPairCorr
  0.99MLRTX Mainstay Large CapPairCorr
  0.98MLRRX Mainstay Large CapPairCorr
  0.99EPSRX Mainstay Epoch GlobalPairCorr
  0.99EPSIX Mainstay Epoch GlobalPairCorr
  0.95MOINX Mainstay Epoch SmallPairCorr
  0.89VCRVX Mainstay Cbre GlobalPairCorr
  0.89VCRQX Mainstay Cbre GlobalPairCorr
  0.99MSMIX Mainstay Map EquityPairCorr
  0.68MSODX Mainstay Mackay CaliPairCorr
  0.89MSYEX Mainstay Mackay UncoPairCorr
  0.88MSYDX Mainstay UnconstrainedPairCorr
  0.96ICELX Mainstay Epoch InterPairCorr
  0.65MTFEX Mainstay Mackay StrategicPairCorr
  0.92MTFDX Mainstay Mackay StrategicPairCorr
  0.92MTFHX Mainstay Mackay StrategicPairCorr
  0.91MTFFX Mainstay Mackay StrategicPairCorr
  0.99MTINX Mainstay Income BuilderPairCorr
  0.7MTMNX Mainstay Total ReturnPairCorr
  0.99MTODX Mainstay Income BuilderPairCorr
  0.73MTRDX Mainstay Total ReturnPairCorr
  0.99KLGNX Mainstay Nerstone GrowthPairCorr
  0.99MCINX Mainstay ConvertiblePairCorr
  0.99MCKNX Mainstay ConservativePairCorr
  0.64MCSSX Mainstay Mon StockPairCorr
  0.97MCYAX Mainstay CandriamPairCorr

Related Correlations Analysis

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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   
MLRRXMLGRX
MLRTXMLINX
MMHVXMMHEX
MLINXMLGRX
MLRTXMLGRX
MLRRXMLINX
  
High negative correlations   
MNODXMLRSX
MNODXMMRDX

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
MKINX  0.14  0.00 (0.51) 0.05  0.15 
 0.34 
 1.00 
MLGRX  0.82  0.19  0.17  0.32  0.65 
 2.52 
 5.74 
MLINX  0.83  0.34  0.18 (5.85) 0.60 
 2.55 
 5.60 
MLRTX  0.83  0.34  0.18 (6.03) 0.61 
 2.59 
 5.53 
MLRSX  0.72  0.27  0.30  0.55  0.00 
 2.18 
 5.60 
MLRRX  0.83  0.19  0.18  0.32  0.61 
 2.61 
 5.60 
MMHEX  0.19 (0.01) 0.00  0.59  0.00 
 0.45 
 1.51 
MMHVX  0.19 (0.02) 0.00  0.64  0.00 
 0.45 
 1.51 
MMRDX  0.31  0.08 (0.02) 0.37  0.14 
 1.01 
 2.50 
MNODX  0.17 (0.01) 0.00  0.48  0.00 
 0.44 
 1.20