Mainstay Map Correlations

Mutual Funds . USA . 
Fund . Mainstay Map Equity
MSMIX Fund  USD 30.83  0.01  0.03%   
The current 90-days correlation between Mainstay Map Equity and Gmo Global Equity is -0.17 (i.e., Good diversification). The correlation of Mainstay Map 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 Map Correlation With Market

Good diversification

The correlation between Mainstay Map Equity 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 Map Equity 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 Map Equity. 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

  0.75MKINX Mainstay Tax FreePairCorr
  0.97MLGRX Mainstay Large CapPairCorr
  0.98MLINX Mainstay Large CapPairCorr
  0.98MLRTX Mainstay Large CapPairCorr
  0.97MLRSX Mainstay Large CapPairCorr
  0.97MLRRX Mainstay Large CapPairCorr
  0.96MMRDX Mainstay ModeratePairCorr
  0.99EPLIX Mainstay Epoch EquityPairCorr
  0.96EPLDX Mainstay Epoch EquityPairCorr
  0.97EPSRX Mainstay Epoch GlobalPairCorr
  0.97EPSIX Mainstay Epoch GlobalPairCorr
  0.95MOINX Mainstay Epoch SmallPairCorr
  0.83VCRVX Mainstay Cbre GlobalPairCorr
  0.84VCRQX Mainstay Cbre GlobalPairCorr
  0.66MSCVX Mainstay California TaxPairCorr
  0.68MSODX Mainstay Mackay CaliPairCorr
  0.96MBERX Mainstay BalancedPairCorr
  0.88MSYEX Mainstay Mackay UncoPairCorr
  0.87MSYDX Mainstay UnconstrainedPairCorr
  0.96MBINX Mainstay BalancedPairCorr
  0.92ICELX Mainstay Epoch InterPairCorr
  0.73MTBDX Mainstay Mackay TaxPairCorr
  0.91MTFEX Mainstay Mackay StrategicPairCorr
  0.91MTFDX Mainstay Mackay StrategicPairCorr
  0.92MTFHX Mainstay Mackay StrategicPairCorr
  0.92MTFFX Mainstay Mackay StrategicPairCorr
  0.96MTINX Mainstay Income BuilderPairCorr
  0.72MTMNX Mainstay Total ReturnPairCorr
  0.96MTODX Mainstay Income BuilderPairCorr
  0.71MTRDX Mainstay Total ReturnPairCorr
  0.98KLGNX Mainstay Nerstone GrowthPairCorr
  0.98MCINX Mainstay ConvertiblePairCorr
  0.98MCKNX Mainstay ConservativePairCorr
  0.66MCSSX Mainstay Mon StockPairCorr
  0.96MCYAX 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 Map 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 Map'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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