Mainstay Conservative Correlations

MNEAX Fund  USD 11.16  0.04  0.36%   
The current 90-days correlation between Mainstay Conservative Etf and Mainstay High Yield is 0.6 (i.e., Poor diversification). The correlation of Mainstay Conservative 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 Conservative Correlation With Market

Poor diversification

The correlation between Mainstay Conservative Etf and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Conservative 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 Conservative 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 nation.

Moving together with Mainstay Mutual Fund

  0.89MKHCX Mainstay High YieldPairCorr
  0.77MKTRX Mainstay Income BuilderPairCorr
  0.78MLACX Mainstay Large CapPairCorr
  0.78MLABX Mainstay Large CapPairCorr
  0.78MLAAX Mainstay Large CapPairCorr
  0.78MLAIX Mainstay Large CapPairCorr
  0.78MLRMX Mainstay Winslow LargePairCorr
  0.8MMPDX Mainstay Wmc ValuePairCorr
  0.8MMPCX Mainstay Map EquityPairCorr
  0.98MMRAX Mainstay ModeratePairCorr
  0.98MMRCX Mainstay ModeratePairCorr
  0.98MMRBX Mainstay ModeratePairCorr
  0.98MMRIX Mainstay ModeratePairCorr
  0.98MMRSX Mainstay ModeratePairCorr
  1.0MNERX Mainstay Conservative EtfPairCorr
  1.0MNEVX Mainstay Conservative EtfPairCorr
  0.67APSLX Mainstay Fiera SmidPairCorr
  0.67APSDX Mainstay Fiera SmidPairCorr
  1.0MNELX Mainstay Conservative EtfPairCorr
  1.0MNEKX Mainstay Conservative EtfPairCorr
  0.88EPLPX Mainstay Epoch EquityPairCorr
  0.88EPLMX Mainstay Epoch EquityPairCorr
  0.89EPLKX Mainstay Epoch EquityPairCorr
  0.88EPLCX Mainstay Epoch EquityPairCorr
  0.89EPLBX Mainstay Epoch EquityPairCorr
  0.74FCGYX Mainstay Pinestone GlobalPairCorr
  0.81EPSYX Mainstay Epoch GlobalPairCorr
  0.8EPSPX Mainstay Epoch GlobalPairCorr
  0.78EPSKX Mainstay Epoch GlobalPairCorr
  0.93MOEAX Mainstay Growth EtfPairCorr
  0.93MOECX Mainstay Growth EtfPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
MLABXMLACX
MLAAXMLACX
MLAIXMLACX
MLRMXMLACX
MLAAXMLABX
MLAIXMLABX
  
High negative correlations   
MLRMXMKTBX
MLAIXMKTBX
MLAAXMKTBX
MLABXMKTBX
MLACXMKTBX
MMHDXMLRMX

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Conservative 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 Conservative'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MKHCX  0.11  0.00 (0.50) 0.12  0.00 
 0.19 
 0.58 
MKTBX  0.14  0.01 (0.36) 0.05  0.21 
 0.32 
 1.28 
MKTRX  0.38 (0.04)(0.21) 0.04  0.42 
 0.77 
 2.17 
MLACX  0.78  0.00  0.00  0.12  1.20 
 1.66 
 5.43 
MLABX  0.79  0.00  0.00  0.12  1.17 
 1.65 
 5.41 
MLAAX  0.79  0.00  0.00  0.12  1.18 
 1.74 
 5.42 
MLAIX  0.79  0.00  0.00  0.12  1.17 
 1.68 
 5.51 
MLRMX  0.80  0.00  0.00  0.12  1.17 
 1.74 
 5.54 
MMHAX  0.18  0.02 (0.28) 0.00  0.30 
 0.42 
 1.92 
MMHDX  0.18  0.01 (0.29) 0.02  0.29 
 0.34 
 1.93