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 0.04 (i.e., Significant 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

Very weak diversification

The correlation between Mainstay Large Cap and DJI is 0.56 (i.e., Very weak 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

  0.69MLACX Mainstay Large CapPairCorr
  0.67MLAAX Mainstay Large CapPairCorr
  0.67MLAIX Mainstay Large CapPairCorr
  0.68MLRMX Mainstay Winslow LargePairCorr
  0.93MMPCX Mainstay Map EquityPairCorr
  0.85MMRAX Mainstay ModeratePairCorr
  0.84MMRCX Mainstay ModeratePairCorr
  0.84MMRBX Mainstay ModeratePairCorr
  0.86MMRIX Mainstay ModeratePairCorr
  0.85MMRSX Mainstay ModeratePairCorr
  0.79MNEVX Mainstay Conservative EtfPairCorr
  0.92APSLX Mainstay Fiera SmidPairCorr
  0.79MNEAX Mainstay Conservative EtfPairCorr
  0.73APSDX Mainstay Fiera SmidPairCorr
  0.77MNEKX Mainstay Conservative EtfPairCorr
  0.71EPLPX Mainstay Epoch EquityPairCorr
  0.9EPLCX Mainstay Epoch EquityPairCorr
  0.62EPLBX Mainstay Epoch EquityPairCorr
  0.73MOEAX Mainstay Growth EtfPairCorr
  0.65MOECX Mainstay Growth EtfPairCorr
  0.94MOERX Mainstay Growth EtfPairCorr
  0.62MOPBX Mainstay Mon StockPairCorr

Moving against Mainstay Mutual Fund

  0.64MSDIX Mainstay UnconstrainedPairCorr
  0.61FCICX Mainstay PinestonePairCorr
  0.5CLARX 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.