Mainstay Balanced Correlations

MBINX Fund

USD 31.08 0.22 0.71%

The current 90-days correlation between Mainstay Balanced and Transamerica Financial Life is 0.01 (i.e., Significant diversification). The correlation of Mainstay Balanced 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 Balanced Correlation With Market

Significant diversification

The correlation between Mainstay Balanced Fund and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Balanced Fund 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 Balanced Fund. 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

0.69	EPLIX	Mainstay Epoch Equity	Pair Corr
0.94	EPLDX	Mainstay Epoch Equity	Pair Corr
0.67	EPSRX	Mainstay Epoch Global	Pair Corr
0.79	EPSIX	Mainstay Epoch Global	Pair Corr
0.98	MSMIX	Mainstay Map Equity	Pair Corr
1.0	MBERX	Mainstay Balanced	Pair Corr
0.81	MTINX	Mainstay Income Builder	Pair Corr
0.67	MTODX	Mainstay Income Builder	Pair Corr
0.83	MCSSX	Mainstay Mon Stock	Pair Corr

Related Correlations Analysis

	IAAEX	LVAQX	RRMVX	PRDMX	UCPIX	ESCIX	SMVTX
IAAEX		0.57	0.15	-0.03	0.13	0.11	0.06	IAAEX
LVAQX	0.57		0.74	0.65	-0.66	0.39	0.74	LVAQX
RRMVX	0.15	0.74		0.9	-0.87	0.6	0.98	RRMVX
PRDMX	-0.03	0.65	0.9		-0.94	0.64	0.91	PRDMX
UCPIX	0.13	-0.66	-0.87	-0.94		-0.5	-0.9	UCPIX
ESCIX	0.11	0.39	0.6	0.64	-0.5		0.6	ESCIX
SMVTX	0.06	0.74	0.98	0.91	-0.9	0.6		SMVTX
	IAAEX	LVAQX	RRMVX	PRDMX	UCPIX	ESCIX	SMVTX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SMVTX	+ 0.98	RRMVX
SMVTX	+ 0.91	PRDMX
PRDMX	+ 0.9	RRMVX
RRMVX	+ 0.74	LVAQX
SMVTX	+ 0.74	LVAQX
PRDMX	+ 0.65	LVAQX

High negative correlations

UCPIX	- 0.94	PRDMX
SMVTX	- 0.9	UCPIX
UCPIX	- 0.87	RRMVX
UCPIX	- 0.66	LVAQX
ESCIX	- 0.5	UCPIX
PRDMX	- 0.03	IAAEX

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Balanced 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 Balanced'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IAAEX	0.81	(0.11)	0.00	(0.26)	0.00	0.00	1.41	(1.48)	9.17
LVAQX	0.86	(0.13)	0.00	(0.19)	0.00	0.00	1.58	(1.87)	3.75
RRMVX	0.69	(0.03)	0.00	3.14	0.00	0.00	1.27	(1.47)	3.46
PRDMX	1.21	(0.09)	0.00	(0.12)	0.00	0.00	1.84	(2.48)	6.08
UCPIX	1.83	0.24	0.16	(0.16)	1.91	(2.14)	4.57	(3.25)	10.95
ESCIX	0.74	0.00	0.00	0.00	0.00	0.00	1.87	(1.88)	4.56
SMVTX	0.88	(0.05)	0.00	1.17	0.00	0.00	1.55	(2.20)	4.10

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