Mainstay Total Correlations

Mutual Funds . USA . 
Fund . Mainstay Total Return
MTMNX Fund  USD 9.19  0.02  0.22%   
The current 90-days correlation between Mainstay Total Return and Mainstay Tax Free is 0.54 (i.e., Very weak diversification). The correlation of Mainstay Total 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 Total Correlation With Market

Modest diversification

The correlation between Mainstay Total Return and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Total Return 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 Total Return. 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

  0.71MKINX Mainstay Tax FreePairCorr
  0.7MLGRX Mainstay Large CapPairCorr
  0.7MLINX Mainstay Large CapPairCorr
  0.7MLRTX Mainstay Large CapPairCorr
  0.71MLRSX Mainstay Large CapPairCorr
  0.7MLRRX Mainstay Large CapPairCorr
  0.73MMRDX Mainstay ModeratePairCorr
  0.74EPLIX Mainstay Epoch EquityPairCorr
  0.74EPLDX Mainstay Epoch EquityPairCorr
  0.75EPSRX Mainstay Epoch GlobalPairCorr
  0.75EPSIX Mainstay Epoch GlobalPairCorr
  0.69MOINX Mainstay Epoch SmallPairCorr
  0.65VCRVX Mainstay Cbre GlobalPairCorr
  0.66VCRQX Mainstay Cbre GlobalPairCorr
  0.71MSMIX Mainstay Map EquityPairCorr
  0.76MBERX Mainstay BalancedPairCorr
  0.93MSYEX Mainstay Mackay UncoPairCorr
  0.94MSYDX Mainstay UnconstrainedPairCorr
  0.76MBINX Mainstay BalancedPairCorr
  0.73ICELX Mainstay Epoch InterPairCorr
  0.7MTBDX Mainstay Mackay TaxPairCorr
  0.77MTFEX Mainstay Mackay StrategicPairCorr
  0.78MTFDX Mainstay Mackay StrategicPairCorr
  0.79MTFHX Mainstay Mackay StrategicPairCorr
  0.8MTFFX Mainstay Mackay StrategicPairCorr
  0.78MTINX Mainstay Income BuilderPairCorr
  0.78MTODX Mainstay Income BuilderPairCorr
  1.0MTRDX Mainstay Total ReturnPairCorr
  0.69KLGNX Mainstay Nerstone GrowthPairCorr
  0.7MCINX Mainstay ConvertiblePairCorr
  0.77MCKNX Mainstay ConservativePairCorr
  0.76MCYAX Mainstay CandriamPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Total 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 Total'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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MKINX  0.14 (0.01)(0.49)(0.03) 0.15 
(0.20)
 0.34 
(0.33)
 1.00 
MLGRX  0.83  0.19  0.18  0.32  0.65 
(0.99)
 2.52 
(1.40)
 5.74 
MLINX  0.83  0.20  0.18  0.32  0.60 
(0.99)
 2.55 
(1.30)
 5.60 
MLRTX  0.83  0.20  0.18  0.32  0.61 
(1.06)
 2.59 
(1.26)
 5.53 
MLRSX  0.83  0.20  0.19  0.33  0.62 
(0.99)
 2.57 
(1.34)
 5.60 
MLRRX  0.83  0.20  0.19  0.32  0.61 
(1.01)
 2.61 
(1.39)
 5.60 
MMHEX  0.19 (0.03) 0.00 (0.28) 0.00 
 0.00 
 0.45 
(0.45)
 1.51 
MMHVX  0.19 (0.03) 0.00 (0.29) 0.00 
 0.00 
 0.45 
(0.44)
 1.51 
MMRDX  0.35  0.07  0.00  0.27  0.25 
(0.38)
 1.03 
(0.84)
 2.50 
MNODX  0.17 (0.02) 0.00 (0.27) 0.00 
 0.00 
 0.44 
(0.33)
 1.20 

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