Mainstay Government Correlations

Mutual Funds . USA . 
Fund . Mainstay Government Fund
MGVNX Fund  USD 7.53  0.01  0.13%   
The current 90-days correlation between Mainstay Government and Touchstone Ultra Short is 0.08 (i.e., Significant diversification). The correlation of Mainstay Government 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 Government Correlation With Market

Average diversification

The correlation between Mainstay Government Fund and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Government 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 Government 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

  0.8MKINX Mainstay Tax FreePairCorr
  0.83MMHEX Mainstay Mackay HighPairCorr
  0.83MMHVX Mainstay High YieldPairCorr
  0.8MNODX Mainstay Mackay NewPairCorr
  0.8MNOVX Mainstay New YorkPairCorr
  0.75EPLIX Mainstay Epoch EquityPairCorr
  0.76EPLDX Mainstay Epoch EquityPairCorr
  0.8EPSRX Mainstay Epoch GlobalPairCorr
  0.8EPSIX Mainstay Epoch GlobalPairCorr
  0.87VCRVX Mainstay Cbre GlobalPairCorr
  0.87VCRQX Mainstay Cbre GlobalPairCorr
  0.72MSCVX Mainstay California TaxPairCorr
  0.76MSMIX Mainstay Map EquityPairCorr
  0.72MSODX Mainstay Mackay CaliPairCorr
  0.79MBERX Mainstay BalancedPairCorr
  0.61MSYDX Mainstay UnconstrainedPairCorr
  0.79MBINX Mainstay BalancedPairCorr
  0.68ICELX Mainstay Epoch InterPairCorr
  0.79MTBDX Mainstay Mackay TaxPairCorr
  0.81MTFEX Mainstay Mackay StrategicPairCorr
  0.82MTFDX Mainstay Mackay StrategicPairCorr
  0.79MTFHX Mainstay Mackay StrategicPairCorr
  0.95MTFFX Mainstay Mackay StrategicPairCorr
  0.83MTINX Mainstay Income BuilderPairCorr
  0.83MTMNX Mainstay Total ReturnPairCorr
  0.82MTODX Mainstay Income BuilderPairCorr
  0.8MTRDX Mainstay Total ReturnPairCorr
  0.63MCINX Mainstay VertiblePairCorr
  0.68MCKNX Mainstay ConservativePairCorr
  0.84MCSSX Mainstay Mon StockPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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