Mainstay Moderate Correlations

MGDIX Fund

USD 15.26 0.17 1.13%

The current 90-days correlation between Mainstay Moderate Growth and Goldman Sachs Short is -0.1 (i.e., Good 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

Poor diversification

The correlation between Mainstay Moderate Growth and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Moderate Growth 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 Growth. 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 gross domestic product.

Moving together with Mainstay Mutual Fund

0.77	MLACX	Mainstay Large Cap	Pair Corr
0.77	MLAAX	Mainstay Large Cap	Pair Corr
0.77	MLAIX	Mainstay Large Cap	Pair Corr
0.78	MLRMX	Mainstay Winslow Large	Pair Corr
0.98	MMRAX	Mainstay Moderate	Pair Corr
0.99	MMRCX	Mainstay Moderate	Pair Corr
0.98	MMRIX	Mainstay Moderate	Pair Corr
0.99	MMRSX	Mainstay Moderate	Pair Corr
0.68	MNERX	Mainstay Conservative Etf	Pair Corr
0.68	MNEVX	Mainstay Conservative Etf	Pair Corr
0.73	APSLX	Mainstay Fiera Smid	Pair Corr
0.67	MNEAX	Mainstay Conservative Etf	Pair Corr
0.73	APSDX	Mainstay Fiera Smid	Pair Corr
0.65	MNELX	Mainstay Conservative Etf	Pair Corr
0.7	MNEKX	Mainstay Conservative Etf	Pair Corr
0.69	FCGYX	Mainstay Pinestone Global	Pair Corr
0.87	MOEAX	Mainstay Growth Etf	Pair Corr
0.88	MOECX	Mainstay Growth Etf	Pair Corr
0.86	MOEIX	Mainstay Growth Etf	Pair Corr
0.87	MOERX	Mainstay Growth Etf	Pair Corr
0.87	MOEVX	Mainstay Growth Etf	Pair Corr
0.73	FCUPX	Mainstay Pinestone Equity	Pair Corr

Moving against Mainstay Mutual Fund

0.5	MSDIX	Mainstay Unconstrained	Pair Corr
0.48	MASAX	Mainstay Unconstrained	Pair Corr
0.46	MSICX	Mainstay Unconstrained	Pair Corr
0.37	VCRIX	Voya Cbre Global	Pair Corr
0.36	VCRAX	Voya Cbre Global	Pair Corr
0.35	VCRCX	Mainstay Cbre Global	Pair Corr

Related Correlations Analysis

	GANPX	FMUUX	PRVBX	ABNCX	CSBCX	LTXFX	MBSAX
GANPX		0.98	0.92	0.93	0.91	0.95	0.92	GANPX
FMUUX	0.98		0.93	0.94	0.9	0.91	0.89	FMUUX
PRVBX	0.92	0.93		0.97	0.96	0.92	0.94	PRVBX
ABNCX	0.93	0.94	0.97		0.97	0.92	0.95	ABNCX
CSBCX	0.91	0.9	0.96	0.97		0.93	0.96	CSBCX
LTXFX	0.95	0.91	0.92	0.92	0.93		0.93	LTXFX
MBSAX	0.92	0.89	0.94	0.95	0.96	0.93		MBSAX
	GANPX	FMUUX	PRVBX	ABNCX	CSBCX	LTXFX	MBSAX

Click cells to compare fundamentals

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GANPX	0.06	0.00	0.23	(0.02)	0.00	(0.12)	0.10	(0.10)	0.48
FMUUX	0.03	0.00	0.00	(0.06)	0.00	0.00	0.10	0.00	0.40
PRVBX	0.10	0.01	0.41	0.26	0.00	(0.13)	0.23	(0.17)	0.53
ABNCX	0.16	0.02	0.28	1.39	0.00	(0.20)	0.30	(0.30)	0.90
CSBCX	0.22	0.01	0.15	0.35	0.23	(0.25)	0.49	(0.42)	1.42
LTXFX	0.10	0.00	0.16	(0.27)	0.12	(0.14)	0.26	(0.20)	0.65
MBSAX	0.18	0.01	0.18	(0.25)	0.19	(0.21)	0.36	(0.30)	1.34

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