Mainstay Income Correlations

Mutual Funds . USA . 
Fund . Mainstay Income Builder
MTODX Fund  USD 21.20  0.17  0.80%   
The current 90-days correlation between Mainstay Income Builder and Short Duration Inflation is 0.49 (i.e., Very weak diversification). The correlation of Mainstay Income 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 Income Correlation With Market

Very weak diversification

The correlation between Mainstay Income Builder and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Income Builder 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 Income Builder. 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

  0.69MKINX Mainstay Tax FreePairCorr
  0.77MMHEX Mainstay Mackay HighPairCorr
  0.76MMHVX Mainstay High YieldPairCorr
  0.7MNODX Mainstay Mackay NewPairCorr
  0.69MNOVX Mainstay New YorkPairCorr
  0.64EPLIX Mainstay Epoch EquityPairCorr
  0.65EPLDX Mainstay Epoch EquityPairCorr
  0.76EPSRX Mainstay Epoch GlobalPairCorr
  0.76EPSIX Mainstay Epoch GlobalPairCorr
  0.61MOINX Mainstay Epoch SmallPairCorr
  0.82VCRVX Mainstay Cbre GlobalPairCorr
  0.83VCRQX Mainstay Cbre GlobalPairCorr
  0.73MSMIX Mainstay Map EquityPairCorr
  0.72MBERX Mainstay BalancedPairCorr
  0.77MSYEX Mainstay Mackay UncoPairCorr
  0.8MSYDX Mainstay UnconstrainedPairCorr
  0.71MBINX Mainstay BalancedPairCorr
  0.91ICELX Mainstay Epoch InterPairCorr
  0.68MTBDX Mainstay Mackay TaxPairCorr
  0.8MTFEX Mainstay Mackay StrategicPairCorr
  0.81MTFDX Mainstay Mackay StrategicPairCorr
  0.79MTFHX Mainstay Mackay StrategicPairCorr
  0.78MTFFX Mainstay Mackay StrategicPairCorr
  1.0MTINX Mainstay Income BuilderPairCorr
  0.87MTMNX Mainstay Total ReturnPairCorr
  0.87MTRDX Mainstay Total ReturnPairCorr
  0.61MCINX Mainstay VertiblePairCorr
  0.67MCKNX Mainstay ConservativePairCorr
  0.83MCSSX Mainstay Mon StockPairCorr
  0.73MCYAX Mainstay CandriamPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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