Mainstay Large Correlations

Mutual Funds . USA . 
Fund . Mainstay Large Cap
MLGRX Fund  USD 8.61  0.01  0.12%   
The current 90-days correlation between Mainstay Large Cap and Invesco Technology Fund is 0.96 (i.e., Almost no 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

Very poor diversification

The correlation between Mainstay Large Cap and DJI is 0.82 (i.e., Very poor 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 metropolitan statistical area.

Moving together with Mainstay Mutual Fund

  0.66MKINX Mainstay Tax FreePairCorr
  0.99MLINX Mainstay Large CapPairCorr
  0.99MLRTX Mainstay Large CapPairCorr
  0.99MLRSX Mainstay Large CapPairCorr
  1.0MLRRX Mainstay Large CapPairCorr
  0.99MMRDX Mainstay ModeratePairCorr
  0.97EPLIX Mainstay Epoch EquityPairCorr
  0.98EPLDX Mainstay Epoch EquityPairCorr
  0.98EPSRX Mainstay Epoch GlobalPairCorr
  0.98EPSIX Mainstay Epoch GlobalPairCorr
  0.92MOINX Mainstay Epoch SmallPairCorr
  0.86VCRVX Mainstay Cbre GlobalPairCorr
  0.86VCRQX Mainstay Cbre GlobalPairCorr
  0.96MSMIX Mainstay Map EquityPairCorr
  0.64MSODX Mainstay Mackay CaliPairCorr
  0.98MBERX Mainstay BalancedPairCorr
  0.88MSYDX Mainstay UnconstrainedPairCorr
  0.96MBINX Mainstay BalancedPairCorr
  0.95ICELX Mainstay Epoch InterPairCorr
  0.68MTBDX Mainstay Mackay TaxPairCorr
  0.89MTFEX Mainstay Mackay StrategicPairCorr
  0.9MTFDX Mainstay Mackay StrategicPairCorr
  0.91MTFHX Mainstay Mackay StrategicPairCorr
  0.9MTFFX Mainstay Mackay StrategicPairCorr
  0.98MTINX Mainstay Income BuilderPairCorr
  0.7MTMNX Mainstay Total ReturnPairCorr
  0.98MTODX Mainstay Income BuilderPairCorr
  0.73MTRDX Mainstay Total ReturnPairCorr
  0.99KLGNX Mainstay Nerstone GrowthPairCorr
  0.98MCINX Mainstay ConvertiblePairCorr
  0.98MCKNX Mainstay ConservativePairCorr
  0.97MCYAX Mainstay CandriamPairCorr
  0.97MCYCX Mainstay CandriamPairCorr

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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