| MCSSX Fund | | | USD 38.75 0.16 0.41% |
The current 90-days correlation between Mainstay Mon Stock and Franklin Natural Resources is 0.15 (i.e., Average diversification). The correlation of Mainstay Common 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 Common Correlation With Market
Significant diversification
The correlation between Mainstay Mon Stock 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 Mon Stock 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 Mon Stock. 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.