Mainstay Total Correlations

Mutual Funds . USA . 
Fund . Mainstay Total Return
MTRDX Fund  USD 9.03  0.02  0.22%   
The current 90-days correlation between Mainstay Total Return and Mainstay Tax Free is 0.32 (i.e., Weak 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 0.12 (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 unemployment.

Moving together with Mainstay Mutual Fund

  0.76MKINX Mainstay Tax FreePairCorr
  0.81MMHEX Mainstay Mackay HighPairCorr
  0.81MMHVX Mainstay High YieldPairCorr
  0.73MMRDX Mainstay ModeratePairCorr
  0.8MNODX Mainstay Mackay NewPairCorr
  0.78MNOVX Mainstay New YorkPairCorr
  0.63VCRVX Mainstay Cbre GlobalPairCorr
  0.63VCRQX Mainstay Cbre GlobalPairCorr
  0.76MSCVX Mainstay California TaxPairCorr
  0.76MSODX Mainstay Mackay CaliPairCorr
  0.73MSYEX Mainstay Mackay UncoPairCorr
  0.78MSYDX Mainstay UnconstrainedPairCorr
  0.65ICELX Mainstay Epoch InterPairCorr
  0.82MTBDX Mainstay Mackay TaxPairCorr
  0.7MTFEX Mainstay Mackay StrategicPairCorr
  0.76MTFDX Mainstay Mackay StrategicPairCorr
  0.75MTFHX Mainstay Mackay StrategicPairCorr
  0.77MTFFX Mainstay Mackay StrategicPairCorr
  0.77MTINX Mainstay Income BuilderPairCorr
  0.9MTMNX Mainstay Total ReturnPairCorr
  0.77MTODX Mainstay Income BuilderPairCorr
  0.76MCINX Mainstay ConvertiblePairCorr
  0.77MCKNX Mainstay ConservativePairCorr
  0.62MCSSX Mainstay Mon StockPairCorr

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 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.
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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