Mainstay Large Correlations

MLINX Fund

USD 8.48 0.02 0.24%

The current 90-days correlation between Mainstay Large Cap and Templeton Growth Fund is 0.84 (i.e., Very poor 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

Poor diversification

The correlation between Mainstay Large Cap and DJI is 0.64 (i.e., Poor 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 board of governors.

Moving together with Mainstay Mutual Fund

1.0	MLGRX	Mainstay Large Cap	Pair Corr
0.93	MLRTX	Mainstay Large Cap	Pair Corr
1.0	MLRSX	Mainstay Large Cap	Pair Corr
1.0	MLRRX	Mainstay Large Cap	Pair Corr
0.79	MMRDX	Mainstay Moderate	Pair Corr
0.96	MOINX	Mainstay Epoch Small	Pair Corr
1.0	KLGNX	Mainstay Nerstone Growth	Pair Corr
0.92	MCINX	Mainstay Convertible	Pair Corr
0.83	MCKNX	Mainstay Conservative	Pair Corr

Moving against Mainstay Mutual Fund

0.32	VCRVX	Mainstay Cbre Global	Pair Corr
0.5	MSYEX	Mainstay Mackay Unco	Pair Corr
0.48	MTMNX	Mainstay Total Return	Pair Corr
0.47	MSYDX	Mainstay Unconstrained	Pair Corr
0.45	ICELX	Mainstay Epoch Inter	Pair Corr
0.32	VCRQX	Mainstay Cbre Global	Pair Corr
0.54	MGVNX	Mainstay Government	Pair Corr
0.5	MTRDX	Mainstay Total Return	Pair Corr

Related Correlations Analysis

	TEGRX	JHLGX	LONAX	PAGLX	FYOKX	LWLAX	AUERX	GFAFX
TEGRX		0.79	0.53	0.61	0.34	0.78	0.38	0.35	TEGRX
JHLGX	0.79		0.89	0.94	0.76	0.82	0.53	0.74	JHLGX
LONAX	0.53	0.89		0.93	0.88	0.64	0.68	0.85	LONAX
PAGLX	0.61	0.94	0.93		0.92	0.68	0.55	0.78	PAGLX
FYOKX	0.34	0.76	0.88	0.92		0.41	0.52	0.7	FYOKX
LWLAX	0.78	0.82	0.64	0.68	0.41		0.33	0.66	LWLAX
AUERX	0.38	0.53	0.68	0.55	0.52	0.33		0.64	AUERX
GFAFX	0.35	0.74	0.85	0.78	0.7	0.66	0.64		GFAFX
	TEGRX	JHLGX	LONAX	PAGLX	FYOKX	LWLAX	AUERX	GFAFX

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 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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
TEGRX	0.68	0.02	(0.05)	1.13	(1.66)	4.40
JHLGX	0.59	(0.01)	(0.09)	1.05	(1.26)	3.49
LONAX	0.57	(0.06)	(0.18)	1.06	(1.42)	3.16
PAGLX	0.75	(0.03)	(0.11)	1.11	(1.62)	4.65
FYOKX	1.01	(0.03)	(0.10)	1.52	(2.48)	6.77
LWLAX	0.35	(0.04)	0.38	0.61	(0.69)	2.17
AUERX	1.18	(0.35)	(0.53)	1.57	(2.36)	19.53
GFAFX	1.13	(0.28)	0.55	1.56	(2.35)	12.57

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