Mainstay Floating Correlations

Mutual Funds . USA . 
Fund . Mainstay Floating Rate
MXFEX Fund  USD 8.90  0.01  0.11%   
The current 90-days correlation between Mainstay Floating Rate and Oppenheimer Global Allocation is 0.04 (i.e., Significant diversification). The correlation of Mainstay Floating 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 Floating Correlation With Market

Significant diversification

The correlation between Mainstay Floating Rate and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Floating Rate 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 Floating Rate. 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 income.

Moving against Mainstay Mutual Fund

  0.76MLGRX Mainstay Large CapPairCorr
  0.75MLINX Mainstay Large CapPairCorr
  0.74MLRTX Mainstay Large CapPairCorr
  0.74EPSRX Mainstay Epoch GlobalPairCorr
  0.74EPSIX Mainstay Epoch GlobalPairCorr
  0.73MLRRX Mainstay Large CapPairCorr
  0.71MLRSX Mainstay Large CapPairCorr
  0.7EPLIX Mainstay Epoch EquityPairCorr
  0.69EPLDX Mainstay Epoch EquityPairCorr
  0.57VCRVX Mainstay Cbre GlobalPairCorr
  0.48MMRDX Mainstay ModeratePairCorr
  0.57VCRQX Mainstay Cbre GlobalPairCorr
  0.57MBINX Mainstay BalancedPairCorr
  0.56MBERX Mainstay BalancedPairCorr
  0.55ICELX Mainstay Epoch InterPairCorr
  0.49MSMIX Mainstay Map EquityPairCorr
  0.62MCYCX Mainstay CandriamPairCorr
  0.6MCYVX Mainstay CandriamPairCorr
  0.59MCYAX Mainstay CandriamPairCorr
  0.59MCYSX Mainstay CandriamPairCorr
  0.58MCYIX Mainstay CandriamPairCorr
  0.56MGDNX Mainstay Moderate GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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

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