Mainstay Short Correlations

MDHIX Fund  USD 9.56  0.01  0.10%   
The correlation of Mainstay Short 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 Short Correlation With Market

Poor diversification

The correlation between Mainstay Short Duration and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Short Duration 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 Short Duration. 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

  0.95MLACX Mainstay Large CapPairCorr
  0.95MLAAX Mainstay Large CapPairCorr
  0.96MLAIX Mainstay Large CapPairCorr
  0.96MLRMX Mainstay Winslow LargePairCorr
  0.94MMPDX Mainstay Wmc ValuePairCorr
  0.95MMPCX Mainstay Map EquityPairCorr
  0.95MMRAX Mainstay ModeratePairCorr
  0.95MMRCX Mainstay ModeratePairCorr
  0.97MMRIX Mainstay ModeratePairCorr
  0.97MMRSX Mainstay ModeratePairCorr
  0.98MNERX Mainstay Conservative EtfPairCorr
  0.97MNEVX Mainstay Conservative EtfPairCorr
  0.9APSLX Mainstay Fiera SmidPairCorr
  0.97MNEAX Mainstay Conservative EtfPairCorr
  0.91APSDX Mainstay Fiera SmidPairCorr
  0.98MNELX Mainstay Conservative EtfPairCorr
  0.95MNEKX Mainstay Conservative EtfPairCorr
  0.97EPLPX Mainstay Epoch EquityPairCorr
  0.98EPLMX Mainstay Epoch EquityPairCorr
  0.98EPLKX Mainstay Epoch EquityPairCorr
  0.98EPLCX Mainstay Epoch EquityPairCorr
  0.92FCGYX Mainstay Pinestone GlobalPairCorr
  0.98EPSYX Mainstay Epoch GlobalPairCorr
  0.97EPSPX Mainstay Epoch GlobalPairCorr
  0.97EPSKX Mainstay Epoch GlobalPairCorr
  0.72FCIKX Mainstay PinestonePairCorr
  0.71FCICX Mainstay PinestonePairCorr
  0.94MOEAX Mainstay Growth EtfPairCorr
  0.97MOECX Mainstay Growth EtfPairCorr
  0.97MOEIX Mainstay Growth EtfPairCorr
  0.96MOERX Mainstay Growth EtfPairCorr
  0.97MOEVX Mainstay Growth EtfPairCorr
  0.92FCUPX Mainstay Pinestone EquityPairCorr
  0.92FCUDX Mainstay Pinestone EquityPairCorr

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   
MBAIXMBACX
MBAIXMSPIX
MBACXMSPIX
CURCXCURNX
CURAXCURNX
MSPIXCURNX
  
High negative correlations   
MSRLXMSREX
MSRLXMBAIX
MSREXMBAIX
MSRLXMBACX
MSREXMBACX
MSRLXCURZX

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Short 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 Short'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
CURNX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
CURCX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
CURAX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
MSPIX  0.62  0.09  0.09  0.31  0.35 
 2.03 
 4.88 
CURZX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
MBACX  0.38 (0.02)(0.21) 0.16  0.37 
 0.96 
 2.66 
MBAIX  0.38 (0.02)(0.20) 0.17  0.32 
 0.94 
 2.69 
MSREX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
MSRLX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00