Mainstay Growth Correlations

Mutual Funds USA . 
Fund . Mainstay Growth Allocation
MGXIX Fund  USD 17.64  0.20  1.12%   
The current 90-days correlation between Mainstay Growth Allo and Transamerica High Yield is 0.36 (i.e., Weak 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 0.97 (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 gross domestic product.

Moving together with Mainstay Mutual Fund

  0.96MLACX Mainstay Large CapPairCorr
  0.96MLAAX Mainstay Large CapPairCorr
  0.99MLAIX Mainstay Large CapPairCorr
  0.99MLRMX Mainstay Winslow LargePairCorr
  0.97MMPDX Mainstay Wmc ValuePairCorr
  0.97MMPCX Mainstay Map EquityPairCorr
  0.95MMRAX Mainstay ModeratePairCorr
  1.0MMRCX Mainstay ModeratePairCorr
  1.0MMRIX Mainstay ModeratePairCorr
  0.95MMRSX Mainstay ModeratePairCorr
  0.99MNERX Mainstay Conservative EtfPairCorr
  0.99MNEVX Mainstay Conservative EtfPairCorr
  0.99APSLX Mainstay Fiera SmidPairCorr
  0.95MNEAX Mainstay Conservative EtfPairCorr
  0.99APSDX Mainstay Fiera SmidPairCorr
  0.99MNELX Mainstay Conservative EtfPairCorr
  0.94MNEKX Mainstay Conservative EtfPairCorr
  0.91EPLPX Mainstay Epoch EquityPairCorr
  0.98EPLMX Mainstay Epoch EquityPairCorr
  0.98EPLKX Mainstay Epoch EquityPairCorr
  0.98EPLCX Mainstay Epoch EquityPairCorr
  0.99FCGYX Mainstay Pinestone GlobalPairCorr
  0.99EPSYX Mainstay Epoch GlobalPairCorr
  0.95EPSPX Mainstay Epoch GlobalPairCorr
  0.95EPSKX Mainstay Epoch GlobalPairCorr
  0.92FCICX Mainstay PinestonePairCorr
  0.96MOEAX Mainstay Growth EtfPairCorr
  1.0MOECX Mainstay Growth EtfPairCorr
  1.0MOEIX Mainstay Growth EtfPairCorr
  1.0MOERX Mainstay Growth EtfPairCorr
  1.0MOEVX Mainstay Growth EtfPairCorr
  0.96FCUPX Mainstay Pinestone EquityPairCorr
  0.89FCUDX Mainstay Pinestone EquityPairCorr
  0.96FCUCX Mainstay Pinestone EquityPairCorr

Moving against Mainstay Mutual Fund

  0.31MNOAX Mainstay New YorkPairCorr

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.

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