Mainstay High Correlations

Mutual Funds . USA . 
Fund . Mainstay High Yield
MHCAX Fund  USD 5.22  0.01  0.19%   
The current 90-days correlation between Mainstay High Yield and John Hancock Municipal is 0.15 (i.e., Average diversification). The correlation of Mainstay High 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 High Correlation With Market

Average diversification

The correlation between Mainstay High Yield and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay High Yield 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 High Yield. 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

  0.95MLAAX Mainstay Large CapPairCorr
  0.96MMRCX Mainstay ModeratePairCorr
  0.97MMRIX Mainstay ModeratePairCorr
  0.97MMRSX Mainstay ModeratePairCorr
  0.98MNERX Mainstay Conservative EtfPairCorr
  0.98MNEVX Mainstay Conservative EtfPairCorr
  0.94APSLX Mainstay Fiera SmidPairCorr
  0.96MNEAX Mainstay Conservative EtfPairCorr
  0.94APSDX Mainstay Fiera SmidPairCorr
  0.65MNELX Mainstay Conservative EtfPairCorr
  0.96MNEKX Mainstay Conservative EtfPairCorr
  0.94EPLPX Mainstay Epoch EquityPairCorr
  0.96EPLMX Mainstay Epoch EquityPairCorr
  0.96EPLKX Mainstay Epoch EquityPairCorr
  0.96EPLCX Mainstay Epoch EquityPairCorr
  0.92FCGYX Mainstay Pinestone GlobalPairCorr
  0.97EPSYX Mainstay Epoch GlobalPairCorr
  0.98EPSPX Mainstay Epoch GlobalPairCorr
  0.97EPSKX Mainstay Epoch GlobalPairCorr
  0.88FCICX Mainstay PinestonePairCorr
  0.97MOERX Mainstay Growth EtfPairCorr
  0.97MOEVX Mainstay Growth EtfPairCorr
  0.89FCUPX Mainstay Pinestone EquityPairCorr
  0.89FCUDX Mainstay Pinestone EquityPairCorr
  0.88FCUCX Mainstay Pinestone EquityPairCorr
  0.94MOPCX Mainstay Epoch SmallPairCorr
  0.92MOPAX Mainstay Epoch SmallPairCorr
  0.94MOPIX Mainstay Epoch SmallPairCorr
  0.85VCRCX Mainstay Cbre GlobalPairCorr
  0.86VCRAX Voya Cbre GlobalPairCorr
  0.87VCRIX Voya Cbre GlobalPairCorr
  0.75CLARX Voya Real EstatePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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