Mainstay Growth Correlations

Mutual Funds . USA . 
Fund . Mainstay Growth Allocation
MGDSX Fund  USD 15.90  0.01  0.06%   
The current 90-days correlation between Mainstay Growth Allo and Mainstay Large Cap is -0.03 (i.e., Good diversification). The correlation of Mainstay Growth 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 Growth Correlation With Market

Almost no diversification

The correlation between Mainstay Growth Allocation 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 Growth 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 Growth 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 state.

Moving together with Mainstay Mutual Fund

  0.98MLACX Mainstay Large CapPairCorr
  0.98MLAAX Mainstay Large CapPairCorr
  0.99MLAIX Mainstay Large CapPairCorr
  0.99MLRMX Mainstay Winslow LargePairCorr
  0.99MMPDX Mainstay Wmc ValuePairCorr
  0.96MMPCX Mainstay Map EquityPairCorr
  0.98MMRAX Mainstay ModeratePairCorr
  0.98MMRCX Mainstay ModeratePairCorr
  0.98MMRIX Mainstay ModeratePairCorr
  0.98MMRSX Mainstay ModeratePairCorr
  0.98MNERX Mainstay Conservative EtfPairCorr
  0.99MNEVX Mainstay Conservative EtfPairCorr
  0.98APSLX Mainstay Fiera SmidPairCorr
  0.98MNEAX Mainstay Conservative EtfPairCorr
  0.98APSDX Mainstay Fiera SmidPairCorr
  0.99MNELX Mainstay Conservative EtfPairCorr
  0.98MNEKX Mainstay Conservative EtfPairCorr
  0.97EPLPX Mainstay Epoch EquityPairCorr
  0.99EPLMX Mainstay Epoch EquityPairCorr
  0.99EPLKX Mainstay Epoch EquityPairCorr
  0.99EPLCX Mainstay Epoch EquityPairCorr
  0.98FCGYX Mainstay Pinestone GlobalPairCorr
  0.99EPSYX Mainstay Epoch GlobalPairCorr
  0.99EPSPX Mainstay Epoch GlobalPairCorr
  0.97EPSKX Mainstay Epoch GlobalPairCorr
  0.9FCIKX Mainstay PinestonePairCorr
  0.91FCICX Mainstay PinestonePairCorr
  0.98MOEAX Mainstay Growth EtfPairCorr
  1.0MOECX Mainstay Growth EtfPairCorr
  1.0MOEIX Mainstay Growth EtfPairCorr
  1.0MOERX Mainstay Growth EtfPairCorr
  1.0MOEVX Mainstay Growth EtfPairCorr
  0.97FCUPX 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 Growth 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 Growth'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  0.34  0.17 (9.54) 0.60 
(1.00)
 2.62 
(1.48)
 5.67 
MLAAX  0.82  0.35  0.18 (5.04) 0.63 
(1.02)
 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  0.20  0.01 (0.39)(0.06) 0.21 
(0.30)
 0.53 
(0.44)
 1.88 
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  0.61  0.14 (0.02)(0.79) 0.64 
(0.68)
 1.61 
(0.97)
 4.45 
MMRAX  0.35  0.15  0.02 (2.01) 0.11 
(0.41)
 1.11 
(0.78)
 2.51 

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