Mainstay Large Correlations

Mutual Funds . USA . 
Fund . Mainstay Large Cap
MLRTX Fund  USD 10.36  0.08  0.78%   
The current 90-days correlation between Mainstay Large Cap and Mainstay Tax Free is 0.2 (i.e., Modest 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

Good diversification

The correlation between Mainstay Large Cap and DJI is -0.05 (i.e., Good 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 estimate.

Moving together with Mainstay Mutual Fund

  0.72MKINX Mainstay Tax FreePairCorr
  0.99MLGRX Mainstay Large CapPairCorr
  1.0MLINX Mainstay Large CapPairCorr
  0.99MLRSX Mainstay Large CapPairCorr
  0.99MLRRX Mainstay Large CapPairCorr
  0.98MMRDX Mainstay ModeratePairCorr
  0.98EPLIX Mainstay Epoch EquityPairCorr
  0.97EPLDX Mainstay Epoch EquityPairCorr
  0.98EPSRX Mainstay Epoch GlobalPairCorr
  0.98EPSIX Mainstay Epoch GlobalPairCorr
  0.93MOINX Mainstay Epoch SmallPairCorr
  0.86VCRVX Mainstay Cbre GlobalPairCorr
  0.86VCRQX Mainstay Cbre GlobalPairCorr
  0.63MSCVX Mainstay California TaxPairCorr
  0.98MSMIX Mainstay Map EquityPairCorr
  0.65MSODX Mainstay Mackay CaliPairCorr
  0.97MBERX Mainstay BalancedPairCorr
  0.89MSYEX Mainstay Mackay UncoPairCorr
  0.88MSYDX Mainstay UnconstrainedPairCorr
  0.96MBINX Mainstay BalancedPairCorr
  0.95ICELX Mainstay Epoch InterPairCorr
  0.71MTBDX Mainstay Mackay TaxPairCorr
  0.9MTFEX Mainstay Mackay StrategicPairCorr
  0.91MTFDX Mainstay Mackay StrategicPairCorr
  0.92MTFHX Mainstay Mackay StrategicPairCorr
  0.91MTFFX Mainstay Mackay StrategicPairCorr
  0.97MTINX Mainstay Income BuilderPairCorr
  0.72MTMNX Mainstay Total ReturnPairCorr
  0.98MTODX Mainstay Income BuilderPairCorr
  0.72MTRDX Mainstay Total ReturnPairCorr
  1.0KLGNX Mainstay Nerstone GrowthPairCorr
  0.99MCINX Mainstay ConvertiblePairCorr
  0.99MCKNX Mainstay ConservativePairCorr
  0.61MCSSX 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 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MKINX  0.15  0.02 (0.44)(0.42) 0.07 
(0.22)
 0.44 
(0.33)
 1.34 
MLGRX  0.83  0.19  0.18  0.32  0.65 
(0.99)
 2.52 
(1.40)
 5.74 
MLINX  0.82  0.34  0.18 (5.82) 0.61 
(0.98)
 2.55 
(1.30)
 5.60 
MLRTX  0.83  0.34  0.19 (5.93) 0.62 
(1.05)
 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  0.20  0.01 (0.41)(0.03) 0.22 
(0.27)
 0.53 
(0.44)
 1.97 
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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