Mainstay Correlations

Mutual Funds . USA . 
Fund . Mainstay Sp 500
MSPIX Fund  USD 68.75  0.58  0.85%   
The current 90-days correlation between Mainstay Sp 500 and Volumetric Fund Volumetric is 0.98 (i.e., Almost no diversification). The correlation of Mainstay 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 Correlation With Market

Almost no diversification

The correlation between Mainstay Sp 500 and DJI is 0.97 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Sp 500 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 Sp 500. 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

  0.99MLACX Mainstay Large CapPairCorr
  0.99MLAAX Mainstay Large CapPairCorr
  0.99MLAIX Mainstay Large CapPairCorr
  0.96MMPDX Mainstay Wmc ValuePairCorr
  0.96MMPCX Mainstay Map EquityPairCorr
  0.99MMRAX Mainstay ModeratePairCorr
  0.99MMRCX Mainstay ModeratePairCorr
  0.99MMRIX Mainstay ModeratePairCorr
  0.99MMRSX Mainstay ModeratePairCorr
  0.99MNERX Mainstay Conservative EtfPairCorr
  0.99MNEVX Mainstay Conservative EtfPairCorr
  0.98APSLX Mainstay Fiera SmidPairCorr
  0.99MNEAX Mainstay Conservative EtfPairCorr
  0.98APSDX Mainstay Fiera SmidPairCorr
  0.99MNELX Mainstay Conservative EtfPairCorr
  0.99MNEKX Mainstay Conservative EtfPairCorr
  0.98EPLPX Mainstay Epoch EquityPairCorr
  0.98EPLMX Mainstay Epoch EquityPairCorr
  0.98EPLKX Mainstay Epoch EquityPairCorr
  0.98EPLCX Mainstay Epoch EquityPairCorr
  0.98FCGYX Mainstay Pinestone GlobalPairCorr
  0.99EPSYX Mainstay Epoch GlobalPairCorr
  0.99EPSPX Mainstay Epoch GlobalPairCorr
  0.99EPSKX Mainstay Epoch GlobalPairCorr
  0.92FCIKX Mainstay PinestonePairCorr
  0.92FCICX Mainstay PinestonePairCorr
  0.99MOEAX Mainstay Growth EtfPairCorr
  0.99MOECX Mainstay Growth EtfPairCorr
  0.99MOEIX Mainstay Growth EtfPairCorr
  0.99MOERX Mainstay Growth EtfPairCorr
  0.99MOEVX Mainstay Growth EtfPairCorr
  0.96FCUDX Mainstay Pinestone EquityPairCorr
  0.96FCUCX Mainstay Pinestone EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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