Mainstay Income Correlations

Mutual Funds . USA . 
Fund . Mainstay Income Builder
MTINX Fund  USD 21.57  0.13  0.60%   
The current 90-days correlation between Mainstay Income Builder and Mainstay Sp 500 is -0.08 (i.e., Good diversification). The correlation of Mainstay Income 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 Income Correlation With Market

Good diversification

The correlation between Mainstay Income Builder and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Income Builder 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 Income Builder. 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 board of governors.

Moving together with Mainstay Mutual Fund

  0.77MKINX Mainstay Tax FreePairCorr
  0.71MLGRX Mainstay Large CapPairCorr
  0.71MLINX Mainstay Large CapPairCorr
  0.71MLRTX Mainstay Large CapPairCorr
  0.97MLRSX Mainstay Large CapPairCorr
  0.71MLRRX Mainstay Large CapPairCorr
  0.97MMRDX Mainstay ModeratePairCorr
  0.97EPLIX Mainstay Epoch EquityPairCorr
  0.96EPLDX Mainstay Epoch EquityPairCorr
  0.98EPSRX Mainstay Epoch GlobalPairCorr
  0.98EPSIX Mainstay Epoch GlobalPairCorr
  0.93MOINX Mainstay Epoch SmallPairCorr
  0.87VCRVX Mainstay Cbre GlobalPairCorr
  0.88VCRQX Mainstay Cbre GlobalPairCorr
  0.67MSCVX Mainstay California TaxPairCorr
  0.96MSMIX Mainstay Map EquityPairCorr
  0.67MSODX Mainstay Mackay CaliPairCorr
  0.95MBERX Mainstay BalancedPairCorr
  0.91MSYEX Mainstay Mackay UncoPairCorr
  0.91MSYDX Mainstay UnconstrainedPairCorr
  0.95MBINX Mainstay BalancedPairCorr
  0.95ICELX Mainstay Epoch InterPairCorr
  0.74MTBDX Mainstay Mackay TaxPairCorr
  0.93MTFEX Mainstay Mackay StrategicPairCorr
  0.94MTFDX Mainstay Mackay StrategicPairCorr
  0.93MTFHX Mainstay Mackay StrategicPairCorr
  0.93MTFFX Mainstay Mackay StrategicPairCorr
  0.77MTMNX Mainstay Total ReturnPairCorr
  0.98MTODX Mainstay Income BuilderPairCorr
  0.76MTRDX Mainstay Total ReturnPairCorr
  0.97KLGNX Mainstay Nerstone GrowthPairCorr
  0.98MCINX Mainstay ConvertiblePairCorr
  0.98MCKNX Mainstay ConservativePairCorr
  0.98MCYAX 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 Income 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 Income'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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