Mainstay Large Correlations

MLABX Fund  USD 4.45  0.02  0.45%   
The current 90-days correlation between Mainstay Large Cap and Eagle Growth Income is 0.02 (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

Modest diversification

The correlation between Mainstay Large Cap and DJI is 0.26 (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

  0.92MLAAX Mainstay Large CapPairCorr
  0.85MLAIX Mainstay Large CapPairCorr
  0.66MLRMX Mainstay Winslow LargePairCorr
  0.65EPLPX Mainstay Epoch EquityPairCorr
  0.89EPLBX Mainstay Epoch EquityPairCorr
  0.77EPSKX Mainstay Epoch GlobalPairCorr

Moving against Mainstay Mutual Fund

  0.38MKTBX Mainstay Tax FreePairCorr
  0.38MMHIX Mainstay High YieldPairCorr
  0.38MNOCX Mainstay New YorkPairCorr
  0.36MNOIX Mainstay New YorkPairCorr
  0.4MTFCX Mainstay Tax FreePairCorr
  0.4MCAMX Mainstay Mackay CaliPairCorr
  0.36MSTAX Mainstay Tax AdvantagedPairCorr
  0.36MSTIX Mainstay Tax AdvantagedPairCorr
  0.36MSTUX Mainstay Mackay ShortPairCorr
  0.36MTMSX Mainstay Mackay TotalPairCorr
  0.36MTMIX Mainstay Total ReturnPairCorr
  0.35MTBAX Mainstay Tax FreePairCorr
  0.33MSDIX Mainstay UnconstrainedPairCorr

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.