Mainstay Large Correlations

Mutual Funds . USA . 
Fund . Mainstay Large Cap
MLAIX Fund  USD 13.00  0.06  0.46%   
The current 90-days correlation between Mainstay Large Cap and Barings Global Floating is 0.34 (i.e., Weak diversification). The correlation of Mainstay Large 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 Large Correlation With Market

Almost no diversification

The correlation between Mainstay Large Cap and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Large Cap 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 Large Cap. 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

  0.94MMRAX Mainstay ModeratePairCorr
  0.98MMRCX Mainstay ModeratePairCorr
  0.98MMRIX Mainstay ModeratePairCorr
  0.98MMRSX Mainstay ModeratePairCorr
  0.98EPSYX Mainstay Epoch GlobalPairCorr
  0.95MOEAX Mainstay Growth EtfPairCorr
  0.99MOECX Mainstay Growth EtfPairCorr
  0.99MOEIX Mainstay Growth EtfPairCorr
  0.99MOERX Mainstay Growth EtfPairCorr
  0.99MOEVX Mainstay Growth EtfPairCorr
  0.93FCUCX Mainstay Pinestone EquityPairCorr
  0.99MSPIX Mainstay Sp 500PairCorr
  0.92MBACX Mainstay BalancedPairCorr
  0.93MBAIX Mainstay BalancedPairCorr
  0.93MCKAX Mainstay ConservativePairCorr
  0.98MCKIX Mainstay ConservativePairCorr
  0.96MCNVX Mainstay VertiblePairCorr
  0.96MCOAX Mainstay VertiblePairCorr
  0.99MDARX Mainstay Moderate EtfPairCorr
  0.98MGDCX Mainstay Moderate GrowthPairCorr
  0.94MGDAX Mainstay Moderate GrowthPairCorr
  0.98MGDIX Mainstay Moderate GrowthPairCorr
  0.98MGDSX Mainstay Growth AlloPairCorr
  0.83MGHAX Mainstay Emerging MarketsPairCorr
  0.93MYICX Mainstay InternationalPairCorr
  0.98MGXSX Mainstay Equity AlloPairCorr
  0.98MGXCX Mainstay Growth AlloPairCorr
  0.94MGXAX Mainstay Growth AlloPairCorr
  0.94MGXIX Mainstay Growth AlloPairCorr
  1.0FAFGX American FundsPairCorr
  1.0FFAFX American FundsPairCorr
  1.0GFACX Growth FundPairCorr
  0.97GFAFX Growth FundPairCorr
  1.0AGTHX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  1.0CGFCX Growth FundPairCorr
  0.97CGFAX Growth FundPairCorr
  0.97CGFEX Growth FundPairCorr
  1.0RGAEX Growth FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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