Mainstay Floating Correlations

Mutual Funds . USA . 
Fund . Mainstay Floating Rate
MXFCX Fund  USD 8.83  0.01  0.11%   
The current 90-days correlation between Mainstay Floating Rate and Ultrasmall Cap Profund Ultrasmall Cap is 0.33 (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

Very weak diversification

The correlation between Mainstay Floating Rate and DJI is 0.4 (i.e., Very weak 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 main economic indicators.

Moving together with Mainstay Mutual Fund

  0.67MLACX Mainstay Large CapPairCorr
  0.67MLAAX Mainstay Large CapPairCorr
  0.67MLAIX Mainstay Large CapPairCorr
  0.67MLRMX Mainstay Winslow LargePairCorr
  0.97MMPDX Mainstay Wmc ValuePairCorr
  0.66MMPCX Mainstay Map EquityPairCorr
  0.67MMRAX Mainstay ModeratePairCorr
  0.98MMRCX Mainstay ModeratePairCorr
  0.99MMRIX Mainstay ModeratePairCorr
  0.99MMRSX Mainstay ModeratePairCorr
  0.98MNERX Mainstay Conservative EtfPairCorr
  0.98MNEVX Mainstay Conservative EtfPairCorr
  0.64APSLX Mainstay Fiera SmidPairCorr
  0.66MNEAX Mainstay Conservative EtfPairCorr
  0.96APSDX Mainstay Fiera SmidPairCorr
  0.99MNELX 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
  0.87FCIKX Mainstay PinestonePairCorr
  0.87FCICX Mainstay PinestonePairCorr
  0.99MOEAX Mainstay Growth EtfPairCorr
  0.99MOECX Mainstay Growth EtfPairCorr
  0.99MOEIX Mainstay Growth EtfPairCorr
  0.99MOERX Mainstay Growth EtfPairCorr
  0.66MOEVX Mainstay Growth EtfPairCorr
  0.95FCUPX 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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