Mainstay Large Correlations

MLRTX Fund

USD 8.80 0.04 0.46%

The current 90-days correlation between Mainstay Large Cap and Mainstay Growth Etf is 0.88 (i.e., Very poor 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

Poor diversification

The correlation between Mainstay Large Cap 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 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 estimate.

Moving together with Mainstay Mutual Fund

1.0	MLGRX	Mainstay Large Cap	Pair Corr
1.0	MLINX	Mainstay Large Cap	Pair Corr
1.0	MLRSX	Mainstay Large Cap	Pair Corr
1.0	MLRRX	Mainstay Large Cap	Pair Corr
0.97	MOINX	Mainstay Epoch Small	Pair Corr
1.0	KLGNX	Mainstay Nerstone Growth	Pair Corr
0.94	MCINX	Mainstay Convertible	Pair Corr
0.76	MGDNX	Mainstay Moderate Growth	Pair Corr
0.99	MYSPX	Mainstay Sp 500	Pair Corr
0.91	FAFGX	American Funds	Pair Corr
0.91	FFAFX	American Funds	Pair Corr
0.89	GFACX	Growth Fund	Pair Corr

Moving against Mainstay Mutual Fund

0.5	MSYDX	Mainstay Unconstrained	Pair Corr
0.41	VCRQX	Mainstay Cbre Global	Pair Corr
0.4	VCRVX	Mainstay Cbre Global	Pair Corr
0.62	MGVDX	Mainstay Mackay Infr	Pair Corr
0.54	MTRDX	Mainstay Total Return	Pair Corr

Related Correlations Analysis

	MOEAX	MOECX	MOEIX	MSPIX	MBACX	MBAIX	MOERX	MOEVX	MOINX
MOEAX		1.0	1.0	0.95	0.5	0.45	1.0	1.0	0.94	MOEAX
MOECX	1.0		1.0	0.95	0.48	0.42	1.0	1.0	0.94	MOECX
MOEIX	1.0	1.0		0.95	0.5	0.45	1.0	1.0	0.93	MOEIX
MSPIX	0.95	0.95	0.95		0.51	0.46	0.95	0.95	0.96	MSPIX
MBACX	0.5	0.48	0.5	0.51		1.0	0.49	0.49	0.41	MBACX
MBAIX	0.45	0.42	0.45	0.46	1.0		0.44	0.44	0.35	MBAIX
MOERX	1.0	1.0	1.0	0.95	0.49	0.44		1.0	0.94	MOERX
MOEVX	1.0	1.0	1.0	0.95	0.49	0.44	1.0		0.94	MOEVX
MOINX	0.94	0.94	0.93	0.96	0.41	0.35	0.94	0.94		MOINX
	MOEAX	MOECX	MOEIX	MSPIX	MBACX	MBAIX	MOERX	MOEVX	MOINX

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 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MOEAX	0.65	(0.05)	0.00	(0.13)	0.00	0.00	1.12	(1.52)	3.51
MOECX	0.65	(0.05)	0.00	(0.14)	0.00	0.00	1.12	(1.52)	3.44
MOEIX	0.65	(0.05)	0.00	(0.13)	0.00	0.00	1.12	(1.45)	3.45
MSPIX	0.80	(0.04)	0.00	(0.12)	0.00	0.00	1.28	(1.74)	4.52
MBACX	0.42	0.02	0.00	(0.03)	0.00	0.00	0.83	(0.75)	2.12
MBAIX	0.41	0.02	0.11	(0.01)	0.54	(0.45)	0.85	(0.77)	2.14
MOERX	0.65	(0.05)	0.00	(0.13)	0.00	0.00	1.19	(1.52)	3.52
MOEVX	0.65	(0.05)	0.00	(0.13)	0.00	0.00	1.12	(1.45)	3.51
MOINX	0.93	(0.13)	0.00	(0.20)	0.00	0.00	1.68	(2.52)	4.73

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