Mainstay Floating Correlations

Mutual Funds . USA . 
Fund . Mainstay Floating Rate
MXFMX Fund  USD 8.90  0.01  0.11%   
The current 90-days correlation between Mainstay Floating Rate and Prudential High Yield is 0.1 (i.e., Average diversification). The correlation of Mainstay Floating 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 Floating Correlation With Market

Modest diversification

The correlation between Mainstay Floating Rate and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Floating Rate 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 Floating Rate. 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 population.

Moving against Mainstay Mutual Fund

  0.57MLAAX Mainstay Large CapPairCorr
  0.57MLRMX Mainstay Winslow LargePairCorr
  0.52MLAIX Mainstay Large CapPairCorr
  0.51MLACX Mainstay Large CapPairCorr
  0.51MLABX Mainstay Large CapPairCorr
  0.49MMPDX Mainstay Wmc ValuePairCorr
  0.49MMPCX Mainstay Map EquityPairCorr
  0.4MMRCX Mainstay ModeratePairCorr
  0.39MMRSX Mainstay ModeratePairCorr
  0.38MKTRX Mainstay Income BuilderPairCorr
  0.76CLARX Voya Real EstatePairCorr
  0.62FCGYX Mainstay Pinestone GlobalPairCorr
  0.62EPSPX Mainstay Epoch GlobalPairCorr
  0.59EPSYX Mainstay Epoch GlobalPairCorr
  0.57EPLKX Mainstay Epoch EquityPairCorr
  0.56EPLPX Mainstay Epoch EquityPairCorr
  0.55EPLMX Mainstay Epoch EquityPairCorr
  0.55EPLBX Mainstay Epoch EquityPairCorr
  0.55EPSKX Mainstay Epoch GlobalPairCorr
  0.52EPLCX Mainstay Epoch EquityPairCorr
  0.49MAPAX Mainstay Map EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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