Mainstay Large Correlations

MLABX Fund  USD 6.67  0.10  1.52%   
The current 90-days correlation between Mainstay Large Cap and Transamerica Emerging Markets is 0.1 (i.e., Average diversification). The correlation of Mainstay Large 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 Large Correlation With Market

Poor diversification

The correlation between Mainstay Large Cap and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Large Cap 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 Large Cap. 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 bureau of labor statistics.

Moving together with Mainstay Mutual Fund

  0.77MKHCX Mainstay High YieldPairCorr
  0.96MLACX Mainstay Large CapPairCorr
  1.0MLAAX Mainstay Large CapPairCorr
  1.0MLAIX Mainstay Large CapPairCorr
  0.96MLRMX Mainstay Winslow LargePairCorr
  0.93MMPDX Mainstay Wmc ValuePairCorr
  0.93MMPCX Mainstay Map EquityPairCorr
  0.84MMRAX Mainstay ModeratePairCorr
  0.86MMRCX Mainstay ModeratePairCorr
  0.86MMRBX Mainstay ModeratePairCorr
  0.88MMRIX Mainstay ModeratePairCorr
  0.84MMRSX Mainstay ModeratePairCorr
  0.82MNERX Mainstay Conservative EtfPairCorr
  0.8MNEVX Mainstay Conservative EtfPairCorr
  0.92APSLX Mainstay Fiera SmidPairCorr
  0.81MNEAX Mainstay Conservative EtfPairCorr
  0.92APSDX Mainstay Fiera SmidPairCorr
  0.82MNELX Mainstay Conservative EtfPairCorr
  0.79MNEKX Mainstay Conservative EtfPairCorr
  0.91EPLPX Mainstay Epoch EquityPairCorr
  0.91EPLMX Mainstay Epoch EquityPairCorr
  0.9EPLKX Mainstay Epoch EquityPairCorr
  0.91EPLCX Mainstay Epoch EquityPairCorr
  0.9EPLBX Mainstay Epoch EquityPairCorr
  0.95MOEAX Mainstay Growth EtfPairCorr

Moving against Mainstay Mutual Fund

  0.68MSDIX Mainstay UnconstrainedPairCorr
  0.57FCICX Mainstay PinestonePairCorr
  0.49CLARX Voya Real EstatePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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