Mainstay Total Correlations

MTMNX Fund  USD 9.09  0.02  0.22%   
The current 90-days correlation between Mainstay Total Return and Tax Managed Large Cap is 0.15 (i.e., Average diversification). The correlation of Mainstay Total 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 Total Correlation With Market

Average diversification

The correlation between Mainstay Total Return and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Total Return 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 Total Return. 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

  0.78MKINX Mainstay Tax FreePairCorr
  0.73MMHEX Mainstay Mackay HighPairCorr
  0.85MMHVX Mainstay High YieldPairCorr
  0.77MMRDX Mainstay ModeratePairCorr
  0.73MNODX Mainstay Mackay NewPairCorr
  0.81MNOVX Mainstay New YorkPairCorr
  0.73VCRVX Mainstay Cbre GlobalPairCorr
  0.73VCRQX Mainstay Cbre GlobalPairCorr
  0.77MSCVX Mainstay California TaxPairCorr
  0.77MSODX Mainstay Mackay CaliPairCorr
  0.83MSYEX Mainstay Mackay UncoPairCorr
  0.87MSYDX Mainstay UnconstrainedPairCorr
  0.67ICELX Mainstay Epoch InterPairCorr
  0.74MTBDX Mainstay Mackay TaxPairCorr
  0.7MTFEX Mainstay Mackay StrategicPairCorr
  0.79MTFDX Mainstay Mackay StrategicPairCorr
  0.77MTFHX Mainstay Mackay StrategicPairCorr
  0.79MTFFX Mainstay Mackay StrategicPairCorr
  0.87MTINX Mainstay Income BuilderPairCorr
  0.87MTODX Mainstay Income BuilderPairCorr
  0.9MTRDX Mainstay Total ReturnPairCorr
  0.79MCINX Mainstay ConvertiblePairCorr
  0.83MCKNX Mainstay ConservativePairCorr
  0.71MCSSX Mainstay Mon StockPairCorr

Moving against Mainstay Mutual Fund

  0.32MXFEX Mainstay Floating RatePairCorr

Related Correlations Analysis

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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   
SMYIXLMUSX
LMUSXDFELX
DFELXRETSX
LMUSXRETSX
SMYIXDFELX
SMYIXRETSX
  
High negative correlations   
TACLXBXFIX
GMADXBXFIX

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Total 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 Total'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.