Mainstay Map Correlations

Mutual Funds . USA . 
Fund . Mainstay Map Equity
MAPAX Fund  USD 30.43  0.14  0.46%   
The current 90-days correlation between Mainstay Map Equity and Oil Gas Ultrasector is 0.14 (i.e., Average diversification). The correlation of Mainstay Map 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 Map Correlation With Market

Average diversification

The correlation between Mainstay Map Equity and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Map Equity 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 Map Equity. 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 nation.

Moving together with Mainstay Mutual Fund

  0.83MKTRX Mainstay Income BuilderPairCorr
  0.87MLACX Mainstay Large CapPairCorr
  0.76MLABX Mainstay Large CapPairCorr
  0.79MLAAX Mainstay Large CapPairCorr
  0.8MLAIX Mainstay Large CapPairCorr
  0.9MLRMX Mainstay Winslow LargePairCorr
  0.66MMHDX Mainstay High YieldPairCorr
  1.0MMPDX Mainstay Wmc ValuePairCorr
  1.0MMPCX Mainstay Map EquityPairCorr
  0.71MMRAX Mainstay ModeratePairCorr
  0.72MMRCX Mainstay ModeratePairCorr
  0.72MMRBX Mainstay ModeratePairCorr
  0.75MMRIX Mainstay ModeratePairCorr
  0.75MMRSX Mainstay ModeratePairCorr
  0.73MNERX Mainstay Conservative EtfPairCorr
  0.73MNEVX Mainstay Conservative EtfPairCorr
  0.72APSLX Mainstay Fiera SmidPairCorr
  0.72MNEAX Mainstay Conservative EtfPairCorr
  0.69APSDX Mainstay Fiera SmidPairCorr
  0.71MNELX Mainstay Conservative EtfPairCorr
  0.74MNEKX Mainstay Conservative EtfPairCorr
  0.94EPLPX Mainstay Epoch EquityPairCorr
  0.91EPLMX Mainstay Epoch EquityPairCorr
  0.91EPLKX Mainstay Epoch EquityPairCorr
  0.91EPLCX Mainstay Epoch EquityPairCorr
  0.91EPLBX Mainstay Epoch EquityPairCorr
  0.87FCGYX Mainstay Pinestone GlobalPairCorr
  0.89EPSYX Mainstay Epoch GlobalPairCorr
  0.86EPSPX Mainstay Epoch GlobalPairCorr
  0.86EPSKX Mainstay Epoch GlobalPairCorr
  0.69MOEAX Mainstay Growth EtfPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Map 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 Map'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.

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