Mainstay Floating Correlations

Mutual Funds . USA . 
Fund . Mainstay Floating Rate
MXFAX Fund  USD 8.82  0.01  0.11%   
The current 90-days correlation between Mainstay Floating Rate and Enhanced Large Pany is 0.3 (i.e., Weak diversification). The correlation of Mainstay Floating 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 Floating Correlation With Market

Modest diversification

The correlation between Mainstay Floating Rate and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Floating Rate 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 Floating Rate. 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 nation.

Moving together with Mainstay Mutual Fund

  0.66MLACX Mainstay Large CapPairCorr
  0.66MLAAX Mainstay Large CapPairCorr
  0.66MLAIX Mainstay Large CapPairCorr
  0.66MLRMX Mainstay Winslow LargePairCorr
  0.97MMPDX Mainstay Wmc ValuePairCorr
  0.65MMPCX Mainstay Map EquityPairCorr
  0.66MMRAX Mainstay ModeratePairCorr
  0.98MMRCX Mainstay ModeratePairCorr
  0.98MMRIX Mainstay ModeratePairCorr
  0.98MMRSX Mainstay ModeratePairCorr
  0.98MNERX Mainstay Conservative EtfPairCorr
  0.98MNEVX Mainstay Conservative EtfPairCorr
  0.63APSLX Mainstay Fiera SmidPairCorr
  0.65MNEAX Mainstay Conservative EtfPairCorr
  0.95APSDX Mainstay Fiera SmidPairCorr
  0.98MNELX Mainstay Conservative EtfPairCorr
  0.98MNEKX Mainstay Conservative EtfPairCorr
  0.98EPLPX Mainstay Epoch EquityPairCorr
  0.98EPLMX Mainstay Epoch EquityPairCorr
  0.98EPLKX Mainstay Epoch EquityPairCorr
  0.98EPLCX Mainstay Epoch EquityPairCorr
  0.96FCGYX Mainstay Pinestone GlobalPairCorr
  0.99EPSYX Mainstay Epoch GlobalPairCorr
  0.99EPSPX Mainstay Epoch GlobalPairCorr
  0.99EPSKX Mainstay Epoch GlobalPairCorr
  0.86FCICX Mainstay PinestonePairCorr
  0.99MOEAX Mainstay Growth EtfPairCorr
  0.99MOECX Mainstay Growth EtfPairCorr
  0.99MOEIX Mainstay Growth EtfPairCorr
  0.99MOERX Mainstay Growth EtfPairCorr
  0.65MOEVX Mainstay Growth EtfPairCorr
  0.95FCUPX Mainstay Pinestone EquityPairCorr
  0.95FCUDX 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 Floating 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 Floating'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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