Mainstay Mackay Correlations

Mutual Funds . USA . 
Fund . Mainstay Mackay Short
MSTUX Fund  USD 9.31  0.01  0.11%   
The current 90-days correlation between Mainstay Mackay Short and Oppenheimer Gold Special is 0.3 (i.e., Weak diversification). The correlation of Mainstay Mackay 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 Mackay Correlation With Market

Average diversification

The correlation between Mainstay Mackay Short and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Mackay Short 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 Mackay Short. 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 employment.

Moving together with Mainstay Mutual Fund

  0.94MLACX Mainstay Large CapPairCorr
  0.94MLAAX Mainstay Large CapPairCorr
  0.94MLAIX Mainstay Large CapPairCorr
  0.94MLRMX Mainstay Winslow LargePairCorr
  0.93MMPDX Mainstay Wmc ValuePairCorr
  0.92MMPCX Mainstay Map EquityPairCorr
  0.94MMRAX Mainstay ModeratePairCorr
  0.94MMRCX Mainstay ModeratePairCorr
  0.94MMRIX Mainstay ModeratePairCorr
  0.94MMRSX Mainstay ModeratePairCorr
  0.96MNERX Mainstay Conservative EtfPairCorr
  0.96MNEVX Mainstay Conservative EtfPairCorr
  0.87APSLX Mainstay Fiera SmidPairCorr
  0.96MNEAX Mainstay Conservative EtfPairCorr
  0.88APSDX Mainstay Fiera SmidPairCorr
  0.96MNELX Mainstay Conservative EtfPairCorr
  0.96MNEKX Mainstay Conservative EtfPairCorr
  0.96EPLPX Mainstay Epoch EquityPairCorr
  0.96EPLMX Mainstay Epoch EquityPairCorr
  0.95EPLKX Mainstay Epoch EquityPairCorr
  0.96EPLCX Mainstay Epoch EquityPairCorr
  0.9FCGYX Mainstay Pinestone GlobalPairCorr
  0.97EPSYX Mainstay Epoch GlobalPairCorr
  0.96EPSPX Mainstay Epoch GlobalPairCorr
  0.96EPSKX Mainstay Epoch GlobalPairCorr
  0.77FCIKX Mainstay PinestonePairCorr
  0.76FCICX Mainstay PinestonePairCorr
  0.94MOEAX Mainstay Growth EtfPairCorr
  0.94MOECX Mainstay Growth EtfPairCorr
  0.94MOEIX Mainstay Growth EtfPairCorr
  0.94MOERX Mainstay Growth EtfPairCorr
  0.94MOEVX Mainstay Growth EtfPairCorr
  0.9FCUPX 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 Mackay 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 Mackay'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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