Mainstay Map Correlations

Mutual Funds . USA . 
Fund . Mainstay Map Equity
MSMIX Fund  USD 30.48  0.13  0.43%   
The current 90-days correlation between Mainstay Map Equity and Mainstay Tax Free is -0.05 (i.e., Good diversification). The correlation of Mainstay Map 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 Map Correlation With Market

Modest diversification

The correlation between Mainstay Map Equity and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Map Equity 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 Map Equity. 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

  0.89MLGRX Mainstay Large CapPairCorr
  0.9MLINX Mainstay Large CapPairCorr
  0.91MLRTX Mainstay Large CapPairCorr
  0.91MLRSX Mainstay Large CapPairCorr
  0.91MLRRX Mainstay Large CapPairCorr
  0.71MMRDX Mainstay ModeratePairCorr
  0.94EPLIX Mainstay Epoch EquityPairCorr
  0.89EPSIX Mainstay Epoch GlobalPairCorr
  0.91VCRVX Mainstay Cbre GlobalPairCorr
  0.91VCRQX Mainstay Cbre GlobalPairCorr
  0.99MBERX Mainstay BalancedPairCorr
  0.99MBINX Mainstay BalancedPairCorr
  0.82MTINX Mainstay Income BuilderPairCorr
  0.81MTODX Mainstay Income BuilderPairCorr
  0.71MCINX Mainstay ConvertiblePairCorr
  0.72MCKNX Mainstay ConservativePairCorr
  0.88MCSSX Mainstay Mon StockPairCorr

Moving against Mainstay Mutual Fund

  0.57MXFEX Mainstay Floating RatePairCorr
  0.55MIXNX Mainstay Indexed BondPairCorr
  0.54MXFNX Mainstay Floating RatePairCorr

Related Correlations Analysis

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 Map 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 Map'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
MKINX  0.21 (0.02) 0.00 (0.32) 0.00 
 0.00 
 0.43 
(0.53)
 1.50 
MLGRX  1.23 (0.26) 0.00 (0.57) 0.00 
 0.00 
 1.55 
(2.21)
 24.26 
MLINX  1.19 (0.23) 0.00 (0.51) 0.00 
 0.00 
 1.58 
(2.31)
 21.92 
MLRTX  1.17 (0.22) 0.00 (1.47) 0.00 
 0.00 
 1.50 
(2.25)
 21.46 
MLRSX  1.11 (0.16) 0.00 (0.39) 0.00 
 0.00 
 1.52 
(2.23)
 17.93 
MLRRX  1.14 (0.18) 0.00 (0.42) 0.00 
 0.00 
 1.55 
(2.26)
 19.09 
MMHEX  0.26 (0.03) 0.00 (0.97) 0.00 
 0.00 
 0.51 
(0.59)
 2.03 
MMHVX  0.26 (0.03) 0.00 (0.32) 0.00 
 0.00 
 0.51 
(0.58)
 1.95 
MMRDX  0.44 (0.07) 0.00 (0.20) 0.00 
 0.00 
 0.70 
(0.93)
 4.56 
MNODX  0.22 (0.03) 0.00 (0.77) 0.00 
 0.00 
 0.53 
(0.62)
 1.78 

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