Mainstay Large Correlations

MLRSX Fund

USD 14.23 0.01 0.07%

The current 90-days correlation between Mainstay Large Cap and Mainstay Tax Free is -0.32 (i.e., Very good 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 0.67 (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 state.

Moving together with Mainstay Mutual Fund

1.0	MLGRX	Mainstay Large Cap	Pair Corr
1.0	MLINX	Mainstay Large Cap	Pair Corr
1.0	MLRTX	Mainstay Large Cap	Pair Corr
1.0	MLRRX	Mainstay Large Cap	Pair Corr
0.85	MMRDX	Mainstay Moderate	Pair Corr
0.89	EPLIX	Mainstay Epoch Equity	Pair Corr
0.89	EPLDX	Mainstay Epoch Equity	Pair Corr
0.82	MOINX	Mainstay Epoch Small	Pair Corr
0.94	MSMIX	Mainstay Map Equity	Pair Corr
0.9	MBERX	Mainstay Balanced	Pair Corr
0.89	MBINX	Mainstay Balanced	Pair Corr
0.98	KLGNX	Mainstay Nerstone Growth	Pair Corr
0.91	MCINX	Mainstay Convertible	Pair Corr
0.69	MCKNX	Mainstay Servative	Pair Corr
0.83	MCSSX	Mainstay Mon Stock	Pair Corr

Moving against Mainstay Mutual Fund

0.76	ICELX	Mainstay Epoch Inter	Pair Corr
0.67	MSYDX	Mainstay Unconstrained	Pair Corr
0.65	MSYEX	Mainstay Mackay Unco	Pair Corr
0.37	MKINX	Mainstay Tax Free	Pair Corr
0.77	MGVNX	Mainstay Government	Pair Corr
0.72	MTMNX	Mainstay Total Return	Pair Corr
0.7	MTRDX	Mainstay Total Return	Pair Corr
0.36	MTFFX	Mainstay Mackay Strategic	Pair Corr
0.35	MTFEX	Mainstay Mackay Strategic	Pair Corr
0.33	MTFDX	Mainstay Mackay Strategic	Pair Corr
0.32	MTBDX	Mainstay Mackay Tax	Pair Corr

Related Correlations Analysis

	MKINX	MLRTX	MMHEX	MMHVX	MMRDX	MNODX
MKINX		-0.36	0.96	0.97	0.03	0.98	MKINX
MLRTX	-0.36		-0.15	-0.2	0.85	-0.21	MLRTX
MMHEX	0.96	-0.15		1.0	0.21	0.98	MMHEX
MMHVX	0.97	-0.2	1.0		0.18	0.99	MMHVX
MMRDX	0.03	0.85	0.21	0.18		0.14	MMRDX
MNODX	0.98	-0.21	0.98	0.99	0.14		MNODX
	MKINX	MLRTX	MMHEX	MMHVX	MMRDX	MNODX

Click cells to compare fundamentals

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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

MMHVX	+ 1.0	MMHEX
MNODX	+ 0.99	MMHVX
MNODX	+ 0.98	MKINX
MNODX	+ 0.98	MMHEX
MMHVX	+ 0.97	MKINX
MMHEX	+ 0.96	MKINX

High negative correlations

MLRTX	- 0.36	MKINX
MNODX	- 0.21	MLRTX
MMHVX	- 0.2	MLRTX
MMHEX	- 0.15	MLRTX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MKINX	0.14	0.01	(0.31)	0.04	0.22	(0.23)	0.32	(0.42)	1.49
MLRTX	0.79	0.00	0.00	0.12	1.18	(0.79)	1.77	(2.25)	5.52
MMHEX	0.17	0.02	(0.25)	0.00	0.29	(0.24)	0.41	(0.41)	1.92
MMHVX	0.18	0.02	(0.26)	0.00	0.30	(0.21)	0.41	(0.41)	1.76
MMRDX	0.37	(0.02)	(0.15)	0.09	0.42	(0.37)	0.69	(0.75)	2.37
MNODX	0.16	0.02	(0.27)	0.00	0.25	(0.22)	0.41	(0.41)	1.76

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