Mainstay Moderate Correlations

Mutual Funds . USA . 
Fund . Mainstay Moderate Allocation
MMRSX Fund  USD 14.47  0.07  0.49%   
The current 90-days correlation between Mainstay Moderate and Western Asset Short is 0.21 (i.e., Modest 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

Very poor diversification

The correlation between Mainstay Moderate Allocation and DJI is 0.88 (i.e., Very poor 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 main economic indicators.

Moving together with Mainstay Mutual Fund

  0.85MLACX Mainstay Large CapPairCorr
  0.86MLAAX Mainstay Large CapPairCorr
  0.89MLAIX Mainstay Large CapPairCorr
  0.88MLRMX Mainstay Winslow LargePairCorr
  0.96MMPDX Mainstay Wmc ValuePairCorr
  0.96MMPCX Mainstay Map EquityPairCorr
  0.96MMRAX Mainstay ModeratePairCorr
  1.0MMRCX Mainstay ModeratePairCorr
  1.0MMRIX Mainstay ModeratePairCorr
  0.99MNERX Mainstay Conservative EtfPairCorr
  0.99MNEVX Mainstay Conservative EtfPairCorr
  0.91APSLX Mainstay Fiera SmidPairCorr
  0.97MNEAX Mainstay Conservative EtfPairCorr
  0.87APSDX Mainstay Fiera SmidPairCorr
  0.99MNELX Mainstay Conservative EtfPairCorr
  0.97MNEKX Mainstay Conservative EtfPairCorr
  0.93EPLPX Mainstay Epoch EquityPairCorr
  0.97EPLMX Mainstay Epoch EquityPairCorr
  0.93EPLKX Mainstay Epoch EquityPairCorr
  0.97EPLCX Mainstay Epoch EquityPairCorr
  0.96FCGYX Mainstay Pinestone GlobalPairCorr
  0.98EPSYX Mainstay Epoch GlobalPairCorr
  0.94EPSPX Mainstay Epoch GlobalPairCorr
  0.97EPSKX Mainstay Epoch GlobalPairCorr
  0.96MOEAX Mainstay Growth EtfPairCorr
  1.0MOECX Mainstay Growth EtfPairCorr
  1.0MOEIX Mainstay Growth EtfPairCorr
  1.0MOERX Mainstay Growth EtfPairCorr
  1.0MOEVX Mainstay Growth EtfPairCorr
  0.98FCUPX Mainstay Pinestone EquityPairCorr

Moving against Mainstay Mutual Fund

  0.36FCICX Mainstay PinestonePairCorr
  0.34FCIKX Mainstay PinestonePairCorr

Related Correlations Analysis


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.

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