Mainstay Large Correlations

MLABX Fund  USD 4.48  2.19  32.83%   
The current 90-days correlation between Mainstay Large Cap and Enhanced Large Pany is 0.28 (i.e., Modest 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

  1.0MLACX Mainstay Large CapPairCorr
  0.93MLAAX Mainstay Large CapPairCorr
  0.89MLAIX Mainstay Large CapPairCorr
  0.86EPLPX Mainstay Epoch EquityPairCorr
  0.86EPLCX Mainstay Epoch EquityPairCorr
  0.61EPSKX Mainstay Epoch GlobalPairCorr
  0.74MSPIX Mainstay Sp 500 Downward RallyPairCorr
  0.73MSXAX Mainstay Sp 500PairCorr

Moving against Mainstay Mutual Fund

  0.5MASAX Mainstay UnconstrainedPairCorr
  0.5ICEUX Mainstay Epoch InterPairCorr
  0.49ICEVX Mainstay Epoch InterPairCorr

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.