Mainstay High Correlations

Mutual Funds . USA . 
Fund . Mainstay High Yield
MMHDX Fund  USD 11.95  0.01  0.08%   
The current 90-days correlation between Mainstay High Yield and Access Flex High is 0.51 (i.e., Very weak diversification). The correlation of Mainstay High 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 High Correlation With Market

Average diversification

The correlation between Mainstay High Yield and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay High Yield 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 High Yield. 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 unemployment.

Moving together with Mainstay Mutual Fund

  0.62MKTRX Mainstay Income BuilderPairCorr
  0.7MLABX Mainstay Large CapPairCorr
  1.0MMHAX Mainstay High YieldPairCorr
  0.99MMHIX Mainstay High YieldPairCorr
  0.64MMPDX Mainstay Wmc ValuePairCorr
  0.65MMPCX Mainstay Map EquityPairCorr
  0.64MMRAX Mainstay ModeratePairCorr
  0.63MMRCX Mainstay ModeratePairCorr
  0.65MMRIX Mainstay ModeratePairCorr
  0.64MMRSX Mainstay ModeratePairCorr
  0.82MNERX Mainstay Conservative EtfPairCorr
  0.81MNEVX Mainstay Conservative EtfPairCorr
  0.82MNEAX Mainstay Conservative EtfPairCorr
  0.82MNELX Mainstay Conservative EtfPairCorr
  0.81MNEKX Mainstay Conservative EtfPairCorr
  0.99MNOCX Mainstay New YorkPairCorr
  0.99MNOAX Mainstay New YorkPairCorr
  0.99MNOIX Mainstay New YorkPairCorr
  0.99MNOLX Mainstay Mackay NewPairCorr
  0.62EPLPX Mainstay Epoch EquityPairCorr
  0.62EPLMX Mainstay Epoch EquityPairCorr
  0.62EPLKX Mainstay Epoch EquityPairCorr
  0.62EPLCX Mainstay Epoch EquityPairCorr
  0.82EPLBX Mainstay Epoch EquityPairCorr
  0.64FCGYX Mainstay Pinestone GlobalPairCorr
  0.65EPSYX Mainstay Epoch GlobalPairCorr
  0.65EPSPX Mainstay Epoch GlobalPairCorr
  0.65EPSKX Mainstay Epoch GlobalPairCorr
  0.69MOEAX Mainstay Growth EtfPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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