Mainstay Floating Correlations

Mutual Funds USA . 
Fund . Mainstay Floating Rate
MXFNX Fund  USD 8.82  0.01  0.11%   
The current 90-days correlation between Mainstay Floating Rate and Firsthand Alternative Energy is 0.15 (i.e., Average 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 board of governors.

Moving together with Mainstay Mutual Fund

  0.7MKINX Mainstay Tax FreePairCorr
  0.98MLGRX Mainstay Large CapPairCorr
  0.98MLINX Mainstay Large CapPairCorr
  0.98MLRTX Mainstay Large CapPairCorr
  0.98MLRSX Mainstay Large CapPairCorr
  0.98MLRRX Mainstay Large CapPairCorr
  0.98MMRDX Mainstay ModeratePairCorr
  0.98EPLIX Mainstay Epoch EquityPairCorr
  0.98EPLDX Mainstay Epoch EquityPairCorr
  0.99EPSRX Mainstay Epoch GlobalPairCorr
  0.99EPSIX Mainstay Epoch GlobalPairCorr
  0.95MOINX Mainstay Epoch SmallPairCorr
  0.87VCRVX Mainstay Cbre GlobalPairCorr
  0.88VCRQX Mainstay Cbre GlobalPairCorr
  0.97MSMIX Mainstay Map EquityPairCorr
  0.67MSODX Mainstay Mackay CaliPairCorr
  0.97MBERX Mainstay BalancedPairCorr
  0.9MSYEX Mainstay Mackay UncoPairCorr
  0.89MSYDX Mainstay UnconstrainedPairCorr
  0.97MBINX Mainstay BalancedPairCorr
  0.94ICELX Mainstay Epoch InterPairCorr
  0.73MTBDX Mainstay Mackay TaxPairCorr
  0.92MTFEX Mainstay Mackay StrategicPairCorr
  0.93MTFDX Mainstay Mackay StrategicPairCorr
  0.94MTFHX Mainstay Mackay StrategicPairCorr
  0.93MTFFX Mainstay Mackay StrategicPairCorr
  0.98MTINX Mainstay Income BuilderPairCorr
  0.71MTMNX Mainstay Total ReturnPairCorr
  0.98MTODX Mainstay Income BuilderPairCorr
  0.74MTRDX Mainstay Total ReturnPairCorr
  0.98KLGNX Mainstay Nerstone GrowthPairCorr
  0.99MCINX 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 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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