Mainstay Candriam Correlations

Mutual Funds . USA . 
Fund . Mainstay Candriam Emerging
MCYAX Fund  USD 10.67  0.04  0.38%   
The current 90-days correlation between Mainstay Candriam and Federated Hermes Inflation is 0.07 (i.e., Significant diversification). The correlation of Mainstay Candriam 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 Candriam Correlation With Market

Modest diversification

The correlation between Mainstay Candriam Emerging and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Candriam Emerging 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 Candriam Emerging. 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 nation.

Moving together with Mainstay Mutual Fund

  0.76EPSRX Mainstay Epoch GlobalPairCorr
  0.76EPSIX Mainstay Epoch GlobalPairCorr
  0.79VCRVX Mainstay Cbre GlobalPairCorr
  0.79VCRQX Mainstay Cbre GlobalPairCorr
  0.69MSYEX Mainstay Mackay UncoPairCorr
  0.7MSYDX Mainstay UnconstrainedPairCorr
  0.82ICELX Mainstay Epoch InterPairCorr
  0.76MTINX Mainstay Income BuilderPairCorr
  0.69MTMNX Mainstay Total ReturnPairCorr
  0.76MTODX Mainstay Income BuilderPairCorr
  0.69MTRDX Mainstay Total ReturnPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Candriam 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 Candriam'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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