Mainstay Emerging Correlations

Mutual Funds . USA . 
Fund . Mainstay Emerging Markets
MGHAX Fund  USD 7.85  0.01  0.13%   
The current 90-days correlation between Mainstay Emerging Markets and Wells Fargo Diversified is -0.03 (i.e., Good diversification). The correlation of Mainstay Emerging 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 Emerging Correlation With Market

Average diversification

The correlation between Mainstay Emerging Markets and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Emerging Markets 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 Emerging Markets. 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 nation.

Moving together with Mainstay Mutual Fund

  0.87MLACX Mainstay Large CapPairCorr
  0.88MLAAX Mainstay Large CapPairCorr
  0.88MLAIX Mainstay Large CapPairCorr
  0.88MLRMX Mainstay Winslow LargePairCorr
  0.86MMPDX Mainstay Wmc ValuePairCorr
  0.84MMPCX Mainstay Map EquityPairCorr
  0.88MMRAX Mainstay ModeratePairCorr
  0.89MMRCX Mainstay ModeratePairCorr
  0.88MNERX Mainstay Conservative EtfPairCorr
  0.88MNEVX Mainstay Conservative EtfPairCorr
  0.85APSLX Mainstay Fiera SmidPairCorr
  0.88MNEAX Mainstay Conservative EtfPairCorr
  0.84APSDX Mainstay Fiera SmidPairCorr
  0.85MNELX Mainstay Conservative EtfPairCorr
  0.88MNEKX Mainstay Conservative EtfPairCorr
  0.85EPLPX Mainstay Epoch EquityPairCorr
  0.86EPLMX Mainstay Epoch EquityPairCorr
  0.85EPLKX Mainstay Epoch EquityPairCorr
  0.86EPLCX Mainstay Epoch EquityPairCorr
  0.83FCGYX Mainstay Pinestone GlobalPairCorr
  0.88EPSYX Mainstay Epoch GlobalPairCorr
  0.88EPSPX Mainstay Epoch GlobalPairCorr
  0.88EPSKX Mainstay Epoch GlobalPairCorr
  0.74FCIKX Mainstay PinestonePairCorr
  0.79FCICX Mainstay PinestonePairCorr
  0.87MOEAX Mainstay Growth EtfPairCorr
  0.88MOECX Mainstay Growth EtfPairCorr
  0.82MOEIX Mainstay Growth EtfPairCorr
  0.87MOERX Mainstay Growth EtfPairCorr
  0.88MOEVX Mainstay Growth EtfPairCorr
  0.78FCUPX Mainstay Pinestone EquityPairCorr
  0.76FCUDX Mainstay Pinestone EquityPairCorr
  0.78FCUCX Mainstay Pinestone EquityPairCorr
  0.81MOPCX Mainstay Epoch SmallPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Emerging 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 Emerging'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.

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