Mainstay Growth Correlations

Mutual Funds . USA . 
Fund . Mainstay Growth Allocation
MGXNX Fund  USD 17.22  0.01  0.06%   
The current 90-days correlation between Mainstay Growth Allo and Mainstay Tax Free is 0.19 (i.e., Average 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 0.91 (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 board of governors.

Moving together with Mainstay Mutual Fund

  0.69MKINX Mainstay Tax FreePairCorr
  0.99MLGRX Mainstay Large CapPairCorr
  0.99MLINX Mainstay Large CapPairCorr
  0.99MLRTX Mainstay Large CapPairCorr
  0.99MLRSX Mainstay Large CapPairCorr
  0.99MLRRX Mainstay Large CapPairCorr
  1.0MMRDX Mainstay ModeratePairCorr
  0.99EPLIX Mainstay Epoch EquityPairCorr
  0.99EPLDX Mainstay Epoch EquityPairCorr
  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
  0.98MBERX Mainstay BalancedPairCorr
  0.88MSYEX Mainstay Mackay UncoPairCorr
  0.87MSYDX Mainstay UnconstrainedPairCorr
  0.98MBINX Mainstay BalancedPairCorr
  0.96ICELX Mainstay Epoch InterPairCorr
  0.73MTBDX Mainstay Mackay TaxPairCorr
  0.9MTFEX Mainstay Mackay StrategicPairCorr
  0.91MTFDX Mainstay Mackay StrategicPairCorr
  0.92MTFHX Mainstay Mackay StrategicPairCorr
  0.91MTFFX Mainstay Mackay StrategicPairCorr
  0.99MTINX Mainstay Income BuilderPairCorr
  0.68MTMNX Mainstay Total ReturnPairCorr
  0.99MTODX Mainstay Income BuilderPairCorr
  0.71MTRDX Mainstay Total ReturnPairCorr
  0.99KLGNX Mainstay Nerstone GrowthPairCorr
  0.99MCINX Mainstay ConvertiblePairCorr
  0.99MCKNX Mainstay ConservativePairCorr
  0.65MCSSX Mainstay Mon StockPairCorr
  0.97MCYAX Mainstay CandriamPairCorr

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
MKINX  0.14 (0.01)(0.49)(0.03) 0.15 
(0.20)
 0.34 
(0.33)
 1.00 
MLGRX  0.83  0.19  0.18  0.32  0.65 
(0.99)
 2.52 
(1.40)
 5.74 
MLINX  0.83  0.20  0.18  0.32  0.60 
(0.99)
 2.55 
(1.30)
 5.60 
MLRTX  0.83  0.20  0.18  0.32  0.61 
(1.06)
 2.59 
(1.26)
 5.53 
MLRSX  0.83  0.20  0.19  0.33  0.62 
(0.99)
 2.57 
(1.34)
 5.60 
MLRRX  0.83  0.20  0.19  0.32  0.61 
(1.01)
 2.61 
(1.39)
 5.60 
MMHEX  0.19 (0.03) 0.00 (0.28) 0.00 
 0.00 
 0.45 
(0.45)
 1.51 
MMHVX  0.19 (0.03) 0.00 (0.29) 0.00 
 0.00 
 0.45 
(0.44)
 1.51 
MMRDX  0.35  0.07  0.00  0.27  0.25 
(0.38)
 1.03 
(0.84)
 2.50 
MNODX  0.17 (0.02) 0.00 (0.27) 0.00 
 0.00 
 0.44 
(0.33)
 1.20 

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