Mainstay Map Correlations

MSMIX Fund

USD 30.18 0.18 0.60%

The current 90-days correlation between Mainstay Map Equity and Mainstay Growth Etf is 0.82 (i.e., Very poor diversification). The correlation of Mainstay Map 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 Map Correlation With Market

Poor diversification

The correlation between Mainstay Map Equity and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Map Equity 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 Map Equity. 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

0.64	MCINX	Mainstay Convertible	Pair Corr
0.71	MDHVX	Mainstay Short Duration	Pair Corr
0.88	VVIAX	Vanguard Value Index	Pair Corr
0.86	DOXGX	Dodge Cox Stock	Pair Corr
0.86	AFMFX	American Mutual	Pair Corr
0.83	FFMMX	American Funds American	Pair Corr
0.86	FFFMX	American Funds American	Pair Corr
0.86	AMRMX	American Mutual	Pair Corr
0.69	AMFFX	American Mutual	Pair Corr
0.68	AMFCX	American Mutual	Pair Corr
0.88	DODGX	Dodge Stock Fund	Pair Corr
0.88	VIVAX	Vanguard Value Index	Pair Corr
0.63	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.63	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.73	JTOIX	Multimanager Lifestyle	Pair Corr
0.87	LBSAX	Columbia Dividend Income	Pair Corr
0.75	ALEFX	Alps/alerian Energy	Pair Corr
0.65	BACPX	Blackrock Conservative	Pair Corr

Moving against Mainstay Mutual Fund

0.64	ABQYX	Ab Intermediate Bond	Pair Corr
0.48	RYUHX	Inverse Sp 500	Pair Corr

Related Correlations Analysis

	MOEAX	MOECX	MOEIX	MSPIX	MBACX	MBAIX	MOERX	MOEVX	MOINX
MOEAX		1.0	1.0	0.54	0.51	0.49	0.64	0.64	0.55	MOEAX
MOECX	1.0		1.0	0.54	0.49	0.47	0.63	0.64	0.55	MOECX
MOEIX	1.0	1.0		0.54	0.52	0.49	0.64	0.64	0.55	MOEIX
MSPIX	0.54	0.54	0.54		0.55	0.5	0.97	0.97	0.96	MSPIX
MBACX	0.51	0.49	0.52	0.55		1.0	0.59	0.6	0.47	MBACX
MBAIX	0.49	0.47	0.49	0.5	1.0		0.55	0.55	0.43	MBAIX
MOERX	0.64	0.63	0.64	0.97	0.59	0.55		1.0	0.94	MOERX
MOEVX	0.64	0.64	0.64	0.97	0.6	0.55	1.0		0.94	MOEVX
MOINX	0.55	0.55	0.55	0.96	0.47	0.43	0.94	0.94		MOINX
	MOEAX	MOECX	MOEIX	MSPIX	MBACX	MBAIX	MOERX	MOEVX	MOINX

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Map 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 Map'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	(0.14)	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	(0.14)	0.00	0.00	1.12	(1.45)	3.45
MSPIX	0.80	(0.08)	0.00	0.65	0.00	0.00	1.28	(1.71)	4.52
MBACX	0.39	0.03	0.21	(4.19)	0.42	(0.43)	0.83	(0.70)	2.12
MBAIX	0.39	0.03	0.22	(3.10)	0.41	(0.43)	0.85	(0.70)	2.14
MOERX	0.63	(0.06)	0.00	0.83	0.00	0.00	1.19	(1.42)	3.52
MOEVX	0.63	(0.05)	0.00	0.77	0.00	0.00	1.12	(1.42)	3.51
MOINX	0.89	(0.13)	0.00	0.52	0.00	0.00	1.68	(2.29)	4.73

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