Mainstay Balanced Correlations

MBAIX Fund

USD 32.62 0.14 0.43%

The current 90-days correlation between Mainstay Balanced and Mainstay High Yield is 0.57 (i.e., Very weak diversification). The correlation of Mainstay Balanced 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 Balanced Correlation With Market

Good diversification

The correlation between Mainstay Balanced Fund and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Balanced Fund 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 Balanced Fund. 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 gross domestic product.

Moving together with Mainstay Mutual Fund

0.85	MKHCX	Mainstay High Yield	Pair Corr
0.88	MLACX	Mainstay Large Cap	Pair Corr
0.88	MLABX	Mainstay Large Cap	Pair Corr
0.85	MLAAX	Mainstay Large Cap	Pair Corr
0.85	MLAIX	Mainstay Large Cap	Pair Corr
0.88	MLRMX	Mainstay Winslow Large	Pair Corr
0.98	MMPDX	Mainstay Wmc Value	Pair Corr
0.89	MMPCX	Mainstay Map Equity	Pair Corr
0.93	MMRAX	Mainstay Moderate	Pair Corr
0.92	MMRCX	Mainstay Moderate	Pair Corr
0.83	MMRBX	Mainstay Moderate	Pair Corr
0.85	MMRIX	Mainstay Moderate	Pair Corr
0.93	MMRSX	Mainstay Moderate	Pair Corr
0.88	MNERX	Mainstay Conservative Etf	Pair Corr
0.89	MNEVX	Mainstay Conservative Etf	Pair Corr
0.8	APSLX	Mainstay Fiera Smid	Pair Corr
0.89	MNEAX	Mainstay Conservative Etf	Pair Corr
0.81	APSDX	Mainstay Fiera Smid	Pair Corr
0.89	MNELX	Mainstay Conservative Etf	Pair Corr
0.87	MNEKX	Mainstay Conservative Etf	Pair Corr
0.94	EPLPX	Mainstay Epoch Equity	Pair Corr
0.94	EPLMX	Mainstay Epoch Equity	Pair Corr
0.87	EPLKX	Mainstay Epoch Equity	Pair Corr
0.87	EPLCX	Mainstay Epoch Equity	Pair Corr
0.86	EPLBX	Mainstay Epoch Equity	Pair Corr
0.63	EPSYX	Mainstay Epoch Global	Pair Corr
0.62	EPSPX	Mainstay Epoch Global	Pair Corr
0.95	MOEAX	Mainstay Growth Etf	Pair Corr
0.95	MOECX	Mainstay Growth Etf	Pair Corr

Moving against Mainstay Mutual Fund

0.48

FCICX

Mainstay Pinestone

Pair Corr

Related Correlations Analysis

	MKHCX	MKTBX	MKTRX	MLACX	MLAAX	MLAIX	MMHAX	MMHDX	MMHIX	MMPCX
MKHCX		0.22	0.58	0.7	0.7	0.7	0.39	0.32	0.4	0.72	MKHCX
MKTBX	0.22		0.38	-0.37	-0.37	-0.37	0.86	0.88	0.86	-0.32	MKTBX
MKTRX	0.58	0.38		0.29	0.25	0.24	0.47	0.47	0.47	0.31	MKTRX
MLACX	0.7	-0.37	0.29		0.95	0.95	-0.19	-0.26	-0.18	0.9	MLACX
MLAAX	0.7	-0.37	0.25	0.95		1.0	-0.15	-0.23	-0.14	0.93	MLAAX
MLAIX	0.7	-0.37	0.24	0.95	1.0		-0.15	-0.23	-0.14	0.93	MLAIX
MMHAX	0.39	0.86	0.47	-0.19	-0.15	-0.15		1.0	1.0	-0.12	MMHAX
MMHDX	0.32	0.88	0.47	-0.26	-0.23	-0.23	1.0		0.99	-0.2	MMHDX
MMHIX	0.4	0.86	0.47	-0.18	-0.14	-0.14	1.0	0.99		-0.12	MMHIX
MMPCX	0.72	-0.32	0.31	0.9	0.93	0.93	-0.12	-0.2	-0.12		MMPCX
	MKHCX	MKTBX	MKTRX	MLACX	MLAAX	MLAIX	MMHAX	MMHDX	MMHIX	MMPCX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MLAIX	+ 1.0	MLAAX
MMHDX	+ 1.0	MMHAX
MMHIX	+ 1.0	MMHAX
MMHIX	+ 0.99	MMHDX
MLAAX	+ 0.95	MLACX
MLAIX	+ 0.95	MLACX

High negative correlations

MLAIX	- 0.37	MKTBX
MLAAX	- 0.37	MKTBX
MLACX	- 0.37	MKTBX
MMPCX	- 0.32	MKTBX
MMHDX	- 0.26	MLACX
MMHDX	- 0.23	MLAIX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MKHCX	0.11	0.01	(0.50)	3.20	0.00	(0.19)	0.19	(0.19)	0.58
MKTBX	0.14	0.01	(0.36)	0.05	0.21	(0.21)	0.32	(0.32)	1.28
MKTRX	0.38	0.00	(0.24)	(1.31)	0.44	(0.43)	0.77	(0.94)	2.17
MLACX	0.81	0.11	(0.02)	(0.83)	1.22	(0.82)	1.66	(2.32)	5.43
MLAAX	0.79	0.00	0.00	0.12	1.18	(0.81)	1.74	(2.29)	5.42
MLAIX	0.79	0.00	0.00	0.12	1.17	(0.79)	1.68	(2.27)	5.51
MMHAX	0.18	(0.01)	(0.28)	(0.01)	0.30	(0.24)	0.42	(0.41)	1.92
MMHDX	0.18	(0.01)	(0.29)	(0.05)	0.29	(0.24)	0.34	(0.41)	1.93
MMHIX	0.18	(0.01)	(0.28)	(0.01)	0.30	(0.24)	0.50	(0.49)	1.92
MMPCX	0.52	(0.01)	(0.06)	0.11	0.39	(0.63)	1.04	(0.80)	3.94

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC