Mainstay Balanced Correlations

MBINX Fund

USD 31.04 0.04 0.13%

The current 90-days correlation between Mainstay Balanced and 1919 Financial Services is 0.47 (i.e., Very weak 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

Very weak diversification

The correlation between Mainstay Balanced Fund and DJI is 0.45 (i.e., Very weak 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

0.63	MKINX	Mainstay Tax Free	Pair Corr
0.83	MLGRX	Mainstay Large Cap	Pair Corr
0.83	MLINX	Mainstay Large Cap	Pair Corr
0.83	MLRTX	Mainstay Large Cap	Pair Corr
0.84	MLRSX	Mainstay Large Cap	Pair Corr
0.84	MLRRX	Mainstay Large Cap	Pair Corr
0.66	MMHEX	Mainstay Mackay High	Pair Corr
0.67	MMHVX	Mainstay High Yield	Pair Corr
0.66	MMRDX	Mainstay Moderate	Pair Corr
0.64	MNODX	Mainstay Mackay New	Pair Corr
0.65	MNOVX	Mainstay New York	Pair Corr
0.94	EPLIX	Mainstay Epoch Equity	Pair Corr
0.94	EPLDX	Mainstay Epoch Equity	Pair Corr
0.92	EPSRX	Mainstay Epoch Global	Pair Corr
0.92	EPSIX	Mainstay Epoch Global	Pair Corr
0.75	MOINX	Mainstay Epoch Small	Pair Corr
0.91	VCRVX	Mainstay Cbre Global	Pair Corr
0.91	VCRQX	Mainstay Cbre Global	Pair Corr
0.99	MSMIX	Mainstay Map Equity	Pair Corr
1.0	MBERX	Mainstay Balanced	Pair Corr
0.62	MTBDX	Mainstay Mackay Tax	Pair Corr
0.76	MTFFX	Mainstay Mackay Strategic	Pair Corr
0.72	MTINX	Mainstay Income Builder	Pair Corr
0.71	MTODX	Mainstay Income Builder	Pair Corr
0.85	MCINX	Mainstay Vertible	Pair Corr
0.78	MCKNX	Mainstay Conservative	Pair Corr
0.93	MCSSX	Mainstay Mon Stock	Pair Corr

Related Correlations Analysis

	SBFAX	RMBLX	RMBKX	FAFSX	ICFAX	MCBXX
SBFAX		0.86	0.86	0.85	0.75	0.0	SBFAX
RMBLX	0.86		1.0	0.92	0.66	0.0	RMBLX
RMBKX	0.86	1.0		0.92	0.66	0.0	RMBKX
FAFSX	0.85	0.92	0.92		0.63	0.0	FAFSX
ICFAX	0.75	0.66	0.66	0.63		0.0	ICFAX
MCBXX	0.0	0.0	0.0	0.0	0.0		MCBXX
	SBFAX	RMBLX	RMBKX	FAFSX	ICFAX	MCBXX

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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

RMBKX	+ 1.0	RMBLX
FAFSX	+ 0.92	RMBLX
FAFSX	+ 0.92	RMBKX
RMBLX	+ 0.86	SBFAX
RMBKX	+ 0.86	SBFAX
FAFSX	+ 0.85	SBFAX

High negative correlations

MCBXX	- 0.0	ICFAX
MCBXX	- 0.0	FAFSX
MCBXX	- 0.0	RMBKX
MCBXX	- 0.0	RMBLX
MCBXX	- 0.0	SBFAX

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SBFAX	0.81	(0.11)	(0.16)	1.40	(1.47)	10.43
RMBLX	1.01	(0.08)	(0.10)	1.64	(2.07)	6.47
RMBKX	1.01	(0.08)	(0.10)	1.65	(2.08)	6.45
FAFSX	0.71	(0.02)	(0.05)	1.21	(1.69)	4.75
ICFAX	0.89	(0.20)	(0.28)	1.27	(2.10)	15.91
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00

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