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

  0.91MLAAX Mainstay Large CapPairCorr
  0.86MLAIX Mainstay Large CapPairCorr
  0.93MLRMX Mainstay Winslow LargePairCorr
  0.86EPLPX Mainstay Epoch EquityPairCorr
  0.87EPLBX Mainstay Epoch EquityPairCorr
  0.73EPSYX Mainstay Epoch GlobalPairCorr
  0.72EPSPX Mainstay Epoch GlobalPairCorr
  0.71EPSKX Mainstay Epoch GlobalPairCorr
  0.61MSPIX Mainstay Sp 500PairCorr

Moving against Mainstay Mutual Fund

  0.34MKTBX Mainstay Tax FreePairCorr
  0.31MNOCX Mainstay New YorkPairCorr
  0.43MTMSX Mainstay Mackay TotalPairCorr
  0.43MTMIX Mainstay Total ReturnPairCorr
  0.4MSDIX Mainstay UnconstrainedPairCorr
  0.35MSTUX Mainstay Mackay ShortPairCorr
  0.35ICEVX Mainstay Epoch InterPairCorr
  0.35ICEUX Mainstay Epoch InterPairCorr
  0.35ICEWX Mainstay Epoch InterPairCorr
  0.34MSTAX Mainstay Tax AdvantagedPairCorr
  0.34MSTIX Mainstay Tax AdvantagedPairCorr
  0.34MTFCX Mainstay Tax FreePairCorr
  0.31MTBAX Mainstay Tax FreePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
RPFGXFIKBX
BTOFIKBX
BTORPFGX
GCFSXRPFGX
GCFSXFIKBX
IAAEXRPFGX
  
High negative correlations   
IAAEXRGFIX
GCFSXRGFIX
BTORGFIX
RPFGXRGFIX
RGFIXICFAX
RGFIXFIKBX

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.