Mainstay Floating Correlations

Mutual Funds . USA . 
Fund . Mainstay Floating Rate
MXFEX Fund  USD 8.83  0.01  0.11%   
The current 90-days correlation between Mainstay Floating Rate and Mainstay Tax Free is 0.02 (i.e., Significant 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

Significant diversification

The correlation between Mainstay Floating Rate and DJI is 0.01 (i.e., Significant 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 income.

Moving together with Mainstay Mutual Fund

  0.98MLGRX Mainstay Large CapPairCorr
  0.98MLINX Mainstay Large CapPairCorr
  0.98MLRTX Mainstay Large CapPairCorr
  0.74MLRSX Mainstay Large CapPairCorr
  0.98MLRRX Mainstay Large CapPairCorr
  0.74MMRDX Mainstay ModeratePairCorr
  0.72EPLIX Mainstay Epoch EquityPairCorr
  0.71EPLDX Mainstay Epoch EquityPairCorr
  0.98EPSRX Mainstay Epoch GlobalPairCorr
  0.98EPSIX Mainstay Epoch GlobalPairCorr
  0.95MOINX Mainstay Epoch SmallPairCorr
  0.87VCRVX Mainstay Cbre GlobalPairCorr
  0.87VCRQX Mainstay Cbre GlobalPairCorr
  0.72MSMIX Mainstay Map EquityPairCorr
  0.64MSODX Mainstay Mackay CaliPairCorr
  0.72MBERX Mainstay BalancedPairCorr
  0.9MSYEX Mainstay Mackay UncoPairCorr
  0.65MSYDX Mainstay UnconstrainedPairCorr
  0.72MBINX Mainstay BalancedPairCorr
  0.94ICELX Mainstay Epoch InterPairCorr
  0.72MTFEX Mainstay Mackay StrategicPairCorr
  0.93MTFDX Mainstay Mackay StrategicPairCorr
  0.76MTFHX Mainstay Mackay StrategicPairCorr
  0.77MTFFX Mainstay Mackay StrategicPairCorr
  0.76MTINX Mainstay Income BuilderPairCorr
  0.74MTMNX Mainstay Total ReturnPairCorr
  0.98MTODX Mainstay Income BuilderPairCorr
  0.73MTRDX Mainstay Total ReturnPairCorr
  0.98KLGNX Mainstay Nerstone GrowthPairCorr
  0.72MCINX Mainstay ConvertiblePairCorr
  0.98MCKNX Mainstay ConservativePairCorr
  0.98MCYAX 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 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MKINX  0.13 (0.01)(0.58) 0.01  0.10 
(0.21)
 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  0.77  0.43  0.41  11.90  0.00 
(1.01)
 2.57 
(1.03)
 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  0.20  0.01 (0.41)(0.03) 0.22 
(0.27)
 0.53 
(0.44)
 1.97 
MMRDX  0.33  0.16  0.04 (2.08) 0.00 
(0.39)
 1.03 
(0.56)
 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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