Mainstay New Correlations

Mutual Funds . USA . 
Fund . Mainstay New York
MNOCX Fund  USD 9.56  0.00  0.00%   
The current 90-days correlation between Mainstay New York and Franklin Federal Limited Term is 0.89 (i.e., Very poor diversification). The correlation of Mainstay New 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 New Correlation With Market

Significant diversification

The correlation between Mainstay New York and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay New York 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 New York. 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 main economic indicators.

Moving together with Mainstay Mutual Fund

  0.75MKHCX Mainstay High YieldPairCorr
  0.98MKTBX Mainstay Tax FreePairCorr
  0.65MKTRX Mainstay Income BuilderPairCorr
  0.9MMHAX Mainstay High YieldPairCorr
  0.97MMHDX Mainstay High YieldPairCorr
  0.99MMHIX Mainstay High YieldPairCorr
  0.63MMRAX Mainstay ModeratePairCorr
  0.65MMRCX Mainstay ModeratePairCorr
  0.65MMRBX Mainstay ModeratePairCorr
  0.62MMRIX Mainstay ModeratePairCorr
  0.68MMRSX Mainstay ModeratePairCorr
  0.68MNERX Mainstay Conservative EtfPairCorr
  0.69MNEVX Mainstay Conservative EtfPairCorr
  0.74MNEAX Mainstay Conservative EtfPairCorr
  0.67MNELX Mainstay Conservative EtfPairCorr
  0.7MNEKX Mainstay Conservative EtfPairCorr
  1.0MNOAX Mainstay New YorkPairCorr
  1.0MNOIX Mainstay New YorkPairCorr
  1.0MNOLX Mainstay Mackay NewPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
ASTIX
+ 0.76
GTLSX
GTLSX
+ 0.67
SNORX
GTLSX
+ 0.61
FTFZX
ASTIX
+ 0.6
FTFZX
ASTIX
+ 0.57
SNORX
BIIPX
+ 0.53
FTFZX
  
High negative correlations   
BIIPX
- 0.33
TSDCX
TSDCX
- 0.21
SNORX

Risk-Adjusted Indicators

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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY