Mainstay Mackay Correlations

Mutual Funds . USA . 
Fund . Mainstay Mackay Strategic
MTFFX Fund  USD 9.42  0.01  0.11%   
The current 90-days correlation between Mainstay Mackay Strategic and Intal High Relative is 0.17 (i.e., Average diversification). The correlation of Mainstay Mackay 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 Mackay Correlation With Market

Average diversification

The correlation between Mainstay Mackay Strategic and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Mackay Strategic 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 Mackay Strategic. 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 census.

Moving together with Mainstay Mutual Fund

  0.97MKINX Mainstay Tax FreePairCorr
  0.98MMHEX Mainstay Mackay HighPairCorr
  0.98MMHVX Mainstay High YieldPairCorr
  0.94MNODX Mainstay Mackay NewPairCorr
  0.95MNOVX Mainstay New YorkPairCorr
  0.74EPSRX Mainstay Epoch GlobalPairCorr
  0.74EPSIX Mainstay Epoch GlobalPairCorr
  0.62VCRVX Mainstay Cbre GlobalPairCorr
  0.62VCRQX Mainstay Cbre GlobalPairCorr
  0.89MSCVX Mainstay California TaxPairCorr
  0.82MSYDX Mainstay UnconstrainedPairCorr
  0.72ICELX Mainstay Epoch InterPairCorr
  0.98MTBDX Mainstay Mackay TaxPairCorr
  0.99MTFEX Mainstay Mackay StrategicPairCorr
  0.99MTFDX Mainstay Mackay StrategicPairCorr
  0.99MTFHX Mainstay Mackay StrategicPairCorr
  0.77MTINX Mainstay Income BuilderPairCorr
  0.83MTMNX Mainstay Total ReturnPairCorr
  0.77MTODX Mainstay Income BuilderPairCorr
  0.82MTRDX Mainstay Total ReturnPairCorr
  0.62MCSSX Mainstay Mon StockPairCorr
  0.76MDHVX Mainstay Short DurationPairCorr
  0.69MXFNX Mainstay Floating RatePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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