Mainstay Large Correlations

MLABX Fund

USD 4.47 0.05 1.11%

The current 90-days correlation between Mainstay Large Cap and Fidelity Advisor Financial is 0.11 (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

Modest diversification

The correlation between Mainstay Large Cap and DJI is 0.27 (i.e., Modest 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

0.91	MLAAX	Mainstay Large Cap	Pair Corr
0.86	MLAIX	Mainstay Large Cap	Pair Corr
0.93	MLRMX	Mainstay Winslow Large	Pair Corr
0.86	EPLPX	Mainstay Epoch Equity	Pair Corr
0.87	EPLBX	Mainstay Epoch Equity	Pair Corr
0.73	EPSYX	Mainstay Epoch Global	Pair Corr
0.72	EPSPX	Mainstay Epoch Global	Pair Corr
0.71	EPSKX	Mainstay Epoch Global	Pair Corr
0.61	MSPIX	Mainstay Sp 500	Pair Corr

Moving against Mainstay Mutual Fund

0.34	MKTBX	Mainstay Tax Free	Pair Corr
0.31	MNOCX	Mainstay New York	Pair Corr
0.43	MTMSX	Mainstay Mackay Total	Pair Corr
0.43	MTMIX	Mainstay Total Return	Pair Corr
0.4	MSDIX	Mainstay Unconstrained	Pair Corr
0.35	MSTUX	Mainstay Mackay Short	Pair Corr
0.35	ICEVX	Mainstay Epoch Inter	Pair Corr
0.35	ICEUX	Mainstay Epoch Inter	Pair Corr
0.35	ICEWX	Mainstay Epoch Inter	Pair Corr
0.34	MSTAX	Mainstay Tax Advantaged	Pair Corr
0.34	MSTIX	Mainstay Tax Advantaged	Pair Corr
0.34	MTFCX	Mainstay Tax Free	Pair Corr
0.31	MTBAX	Mainstay Tax Free	Pair Corr

Related Correlations Analysis

	FIKBX	ICFAX	RGFIX	RPFGX	BTO	GCFSX	IAAEX
FIKBX		0.21	0.0	1.0	0.98	0.96	0.92	FIKBX
ICFAX	0.21		0.0	0.22	0.15	0.32	0.15	ICFAX
RGFIX	0.0	0.0		0.0	0.0	0.0	0.0	RGFIX
RPFGX	1.0	0.22	0.0		0.98	0.97	0.93	RPFGX
BTO	0.98	0.15	0.0	0.98		0.92	0.92	BTO
GCFSX	0.96	0.32	0.0	0.97	0.92		0.88	GCFSX
IAAEX	0.92	0.15	0.0	0.93	0.92	0.88		IAAEX
	FIKBX	ICFAX	RGFIX	RPFGX	BTO	GCFSX	IAAEX

Click cells to compare fundamentals

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RPFGX	+ 1.0	FIKBX
BTO	+ 0.98	FIKBX
BTO	+ 0.98	RPFGX
GCFSX	+ 0.97	RPFGX
GCFSX	+ 0.96	FIKBX
IAAEX	+ 0.93	RPFGX

High negative correlations

IAAEX	- 0.0	RGFIX
GCFSX	- 0.0	RGFIX
BTO	- 0.0	RGFIX
RPFGX	- 0.0	RGFIX
RGFIX	- 0.0	ICFAX
RGFIX	- 0.0	FIKBX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FIKBX	0.82	0.05	0.14	0.16	0.48	(1.01)	1.88	(1.15)	9.76
ICFAX	0.90	(0.21)	0.00	(0.08)	0.00	0.00	1.43	(1.23)	18.69
RGFIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RPFGX	0.79	0.02	0.07	0.14	0.55	(0.97)	1.85	(1.40)	7.59
BTO	0.89	0.12	0.16	0.21	0.67	(0.98)	1.88	(1.32)	9.88
GCFSX	0.65	0.00	(0.01)	0.13	0.59	(0.85)	1.52	(1.41)	6.07
IAAEX	0.53	(0.04)	(0.12)	0.08	0.50	(0.60)	1.03	(0.91)	3.17

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