Mainstay Moderate Correlations

MDARX Fund

USD 12.49 0.04 0.32%

The current 90-days correlation between Mainstay Moderate Etf and Ashmore Emerging Markets is 0.05 (i.e., Significant diversification). The correlation of Mainstay Moderate 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 Moderate Correlation With Market

Poor diversification

The correlation between Mainstay Moderate Etf and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Moderate Etf 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 Moderate Etf. 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 metropolitan statistical area.

Moving together with Mainstay Mutual Fund

0.66	MLAAX	Mainstay Large Cap	Pair Corr
0.7	MLAIX	Mainstay Large Cap	Pair Corr
0.65	MLRMX	Mainstay Winslow Large	Pair Corr
0.79	MMPDX	Mainstay Wmc Value	Pair Corr
0.79	MMPCX	Mainstay Map Equity	Pair Corr
0.82	MMRAX	Mainstay Moderate	Pair Corr
0.73	MMRCX	Mainstay Moderate	Pair Corr
0.83	MMRIX	Mainstay Moderate	Pair Corr
0.82	MMRSX	Mainstay Moderate	Pair Corr
0.98	MNERX	Mainstay Conservative Etf	Pair Corr
0.99	MNEVX	Mainstay Conservative Etf	Pair Corr
0.8	APSLX	Mainstay Fiera Smid	Pair Corr
0.99	MNEAX	Mainstay Conservative Etf	Pair Corr
0.81	APSDX	Mainstay Fiera Smid	Pair Corr
0.99	MNELX	Mainstay Conservative Etf	Pair Corr
0.98	MNEKX	Mainstay Conservative Etf	Pair Corr
0.67	MNOIX	Mainstay New York	Pair Corr
0.7	EPLPX	Mainstay Epoch Equity	Pair Corr
0.7	EPLMX	Mainstay Epoch Equity	Pair Corr
0.69	EPLKX	Mainstay Epoch Equity	Pair Corr
0.69	EPLCX	Mainstay Epoch Equity	Pair Corr
0.86	FCGYX	Mainstay Pinestone Global	Pair Corr
0.62	EPSYX	Mainstay Epoch Global	Pair Corr
0.62	EPSPX	Mainstay Epoch Global	Pair Corr
0.63	EPSKX	Mainstay Epoch Global	Pair Corr
0.66	FCICX	Mainstay Pinestone	Pair Corr
0.95	MOEAX	Mainstay Growth Etf	Pair Corr

Related Correlations Analysis

	ELBIX	MBSAX	PACEX	ABNTX	MSTBX	CRANX	GPBFX	RHYAX
ELBIX		0.88	0.9	0.86	0.83	0.81	0.83	0.87	ELBIX
MBSAX	0.88		0.94	0.9	0.91	0.97	0.97	0.82	MBSAX
PACEX	0.9	0.94		0.93	0.92	0.89	0.92	0.86	PACEX
ABNTX	0.86	0.9	0.93		0.95	0.83	0.85	0.88	ABNTX
MSTBX	0.83	0.91	0.92	0.95		0.84	0.86	0.84	MSTBX
CRANX	0.81	0.97	0.89	0.83	0.84		0.99	0.69	CRANX
GPBFX	0.83	0.97	0.92	0.85	0.86	0.99		0.7	GPBFX
RHYAX	0.87	0.82	0.86	0.88	0.84	0.69	0.7		RHYAX
	ELBIX	MBSAX	PACEX	ABNTX	MSTBX	CRANX	GPBFX	RHYAX

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Moderate 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 Moderate'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
ELBIX	0.33	0.03	0.26	3.79	0.27	(0.41)	0.64	(0.48)	1.73
MBSAX	0.19	0.01	0.31	(0.20)	0.21	(0.21)	0.36	(0.30)	1.34
PACEX	0.12	0.01	0.45	(0.57)	0.00	(0.17)	0.33	(0.22)	0.77
ABNTX	0.15	0.01	0.36	0.57	0.11	(0.19)	0.30	(0.39)	1.18
MSTBX	0.10	0.01	0.51	(0.48)	0.00	(0.14)	0.21	(0.21)	0.62
CRANX	0.18	0.00	0.30	(0.06)	0.17	(0.24)	0.43	(0.32)	1.08
GPBFX	0.22	0.01	0.31	(0.16)	0.21	(0.26)	0.47	(0.41)	1.47
RHYAX	0.12	0.00	0.32	0.79	0.10	(0.16)	0.21	(0.21)	1.13

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Mainstay Moderate Correlations

Mainstay Moderate Correlation With Market

Poor diversification

Moving together with Mainstay Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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