Mainstay Large Correlations

Mutual Funds . USA . 
Fund . Mainstay Large Cap
MLAIX Fund  USD 11.18  0.05  0.45%   
The current 90-days correlation between Mainstay Large Cap and Auer Growth Fund is -0.12 (i.e., Good diversification). The correlation of Mainstay Large 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 Large Correlation With Market

Good diversification

The correlation between Mainstay Large Cap and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Large Cap 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 Large Cap. 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

  1.0MLACX Mainstay Large CapPairCorr
  1.0MLAAX Mainstay Large CapPairCorr
  1.0MLRMX Mainstay Winslow LargePairCorr
  0.88MMRAX Mainstay ModeratePairCorr
  0.89MMRCX Mainstay ModeratePairCorr
  0.88MMRIX Mainstay ModeratePairCorr
  0.88MMRSX Mainstay ModeratePairCorr
  0.84MNERX Mainstay Conservative EtfPairCorr
  0.83MNEVX Mainstay Conservative EtfPairCorr
  0.96APSLX Mainstay Fiera SmidPairCorr
  0.83MNEAX Mainstay Conservative EtfPairCorr
  0.97APSDX Mainstay Fiera SmidPairCorr
  0.85MNEKX Mainstay Conservative EtfPairCorr
  0.95MOEAX Mainstay Growth EtfPairCorr
  0.95MOECX Mainstay Growth EtfPairCorr
  0.95MOEIX Mainstay Growth EtfPairCorr
  0.95MOERX Mainstay Growth EtfPairCorr
  0.95MOEVX Mainstay Growth EtfPairCorr
  0.65FCUPX Mainstay Pinestone EquityPairCorr
  0.97MOPCX Mainstay Epoch SmallPairCorr
  0.97MOPAX Mainstay Epoch SmallPairCorr

Moving against Mainstay Mutual Fund

  0.54MSDIX Mainstay UnconstrainedPairCorr
  0.51MSICX Mainstay UnconstrainedPairCorr
  0.5MASAX Mainstay UnconstrainedPairCorr
  0.45VCRAX Voya Cbre GlobalPairCorr
  0.45VCRIX Voya Cbre GlobalPairCorr
  0.44VCRCX Mainstay Cbre GlobalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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