Mainstay Wmc Correlations

Mutual Funds . USA . 
Fund . Mainstay Wmc Value
MMPDX Fund  USD 33.32  0.15  0.45%   
The current 90-days correlation between Mainstay Wmc Value and Barings High Yield is 0.53 (i.e., Very weak diversification). The correlation of Mainstay Wmc 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 Wmc Correlation With Market

Good diversification

The correlation between Mainstay Wmc Value and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Wmc Value 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 Wmc Value. 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 unemployment.

Moving together with Mainstay Mutual Fund

  0.99MMRCX Mainstay ModeratePairCorr
  0.98MNEVX Mainstay Conservative EtfPairCorr
  0.96APSDX Mainstay Fiera SmidPairCorr
  0.97MNEKX Mainstay Conservative EtfPairCorr
  0.99EPLCX Mainstay Epoch EquityPairCorr
  0.98FCGYX Mainstay Pinestone GlobalPairCorr
  0.96EPSYX Mainstay Epoch GlobalPairCorr
  0.96EPSKX Mainstay Epoch GlobalPairCorr
  0.97FCUDX Mainstay Pinestone EquityPairCorr
  0.64MSCAX Mainstay California TaxPairCorr
  0.92ICEVX Mainstay Epoch InterPairCorr
  0.94ICEUX Mainstay Epoch InterPairCorr
  0.7MTBIX Mainstay Tax FreePairCorr
  0.98MTISX Mainstay Income BuilderPairCorr
  0.96MCKSX Mainstay ConservativePairCorr
  0.96MCTRX Mainstay Income BuilderPairCorr
  0.99MDARX Mainstay Moderate EtfPairCorr
  0.99MDAVX Mainstay Moderate EtfPairCorr
  0.95MDHCX Mainstay Short DurationPairCorr
  0.96MXFAX Mainstay Floating RatePairCorr
  0.99MGDAX Mainstay Moderate GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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