Mainstay Moderate Correlations

Mutual Funds . USA . 
Fund . Mainstay Moderate Allocation
MMRSX Fund  USD 14.29  0.03  0.21%   
The current 90-days correlation between Mainstay Moderate and American Funds American is 0.95 (i.e., Almost no diversification). The correlation of Mainstay Moderate 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 Moderate Correlation With Market

Almost no diversification

The correlation between Mainstay Moderate Allocation and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Moderate Allocation 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 Moderate Allocation. 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 state.

Moving together with MainStay Mutual Fund

  0.99EPLCX Mainstay Epoch EquityPairCorr
  0.99EPSYX Mainstay Epoch GlobalPairCorr
  1.0MCKSX Mainstay ConservativePairCorr
  1.0MGDCX Mainstay Moderate GrowthPairCorr
  0.97MYICX Mainstay InternationalPairCorr
  0.99FBONX American Funds AmericanPairCorr
  0.99FBAFX American Funds AmericanPairCorr
  0.98ABALX American BalancedPairCorr
  0.97BALCX American BalancedPairCorr
  0.99BALFX American BalancedPairCorr
  0.97RLBCX American BalancedPairCorr
  0.99RLBBX American BalancedPairCorr
  0.97CLBAX American BalancedPairCorr
  0.99CLBEX American BalancedPairCorr
  0.99RLBFX American BalancedPairCorr
  0.94PFN Pimco Income StrategyPairCorr
  0.96CIF Mfs Intermediate HighPairCorr
  0.94PCF Putnam High IncomePairCorr
  0.98PGKAX Pgim Jennison TechnologyPairCorr
  0.85PYACX Payden Porate BondPairCorr
  0.99HDGRX Hartford DividendPairCorr
  0.94CWSIX Chartwell Small CapPairCorr
  0.98RYMKX Russell 2000 15xPairCorr
  0.97FELTX Fidelity Advisor SemPairCorr
  0.97PHYEX Pgim High YieldPairCorr
  0.98PHYAX High Yield FundPairCorr
  0.99FUNFX American Funds FundaPairCorr
  0.91BREUX Baron Real EstatePairCorr
  0.96FEFAX First Eagle FundPairCorr
  0.99JGSRX John Hancock GlobalPairCorr
  0.98CWGIX Capital World GrowthPairCorr
  0.98DFSTX Us Small CapPairCorr
  0.94VMSSX Virtus Multi SectorPairCorr

Moving against MainStay Mutual Fund

  0.55XDSMX Dreyfus StrategicPairCorr
  0.6XNBHX Neuberger Berman IntPairCorr

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 Moderate 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 Moderate'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
FBONX  0.35  0.09 (0.07) 0.40  0.00 
(0.47)
 1.27 
(0.38)
 2.70 
FBAFX  0.35  0.09 (0.07) 0.39  0.00 
(0.47)
 1.33 
(0.38)
 2.70 
ABALX  0.39  0.21 (0.12)(1.23) 0.15 
(0.48)
 1.32 
(0.75)
 2.73 
BALCX  0.37  0.22 (0.10)(1.30) 0.00 
(0.47)
 1.28 
(0.55)
 2.69 
BALFX  0.35  0.08 (0.07) 0.39  0.00 
(0.47)
 1.30 
(0.38)
 2.73 
RLBCX  0.37  0.22 (0.10)(1.29) 0.00 
(0.47)
 1.31 
(0.55)
 2.72 
RLBBX  0.35  0.08 (0.07) 0.39  0.00 
(0.47)
 1.28 
(0.38)
 2.69 
CLBAX  0.38  0.22 (0.10)(1.33) 0.00 
(0.47)
 1.31 
(0.54)
 2.71 
CLBEX  0.35  0.08 (0.07) 0.39  0.00 
(0.47)
 1.31 
(0.38)
 2.71 
RLBFX  0.35  0.09 (0.06) 0.39  0.00 
(0.47)
 1.27 
(0.38)
 2.73 

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