Mainstay Correlations

MSPIX Fund

USD 69.69 0.09 0.13%

The current 90-days correlation between Mainstay Sp 500 and Janus High Yield Fund is 0.68 (i.e., Poor diversification). The correlation of Mainstay 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 Correlation With Market

Very poor diversification

The correlation between Mainstay Sp 500 and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Sp 500 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 Sp 500. 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

0.99	MLACX	Mainstay Large Cap	Pair Corr
0.99	MLAAX	Mainstay Large Cap	Pair Corr
0.87	MLAIX	Mainstay Large Cap	Pair Corr
0.99	MLRMX	Mainstay Winslow Large	Pair Corr
0.97	MMPCX	Mainstay Map Equity	Pair Corr
0.99	MMRSX	Mainstay Moderate	Pair Corr
0.99	MNERX	Mainstay Conservative Etf	Pair Corr
0.61	MNEVX	Mainstay Conservative Etf	Pair Corr
0.99	MNEAX	Mainstay Conservative Etf	Pair Corr
0.99	EPLCX	Mainstay Epoch Equity	Pair Corr
0.98	EPSYX	Mainstay Epoch Global	Pair Corr
1.0	MOEAX	Mainstay Growth Etf	Pair Corr
1.0	MOERX	Mainstay Growth Etf	Pair Corr
0.61	MOPCX	Mainstay Epoch Small	Pair Corr
0.77	VCRCX	Mainstay Cbre Global	Pair Corr

Moving against Mainstay Mutual Fund

0.59	MMHDX	Mainstay High Yield	Pair Corr
0.55	MNOCX	Mainstay New York	Pair Corr
0.52	MNOIX	Mainstay New York	Pair Corr
0.51	MMHAX	Mainstay High Yield	Pair Corr
0.51	MNOAX	Mainstay New York	Pair Corr
0.5	MMHIX	Mainstay High Yield	Pair Corr
0.42	MNOLX	Mainstay Mackay New	Pair Corr

Related Correlations Analysis

	JDHYX	PYRLX	TAHFX	SGYAX	MRHYX	DNHYX	AGDYX
JDHYX		0.72	0.65	0.7	0.67	0.67	0.99	JDHYX
PYRLX	0.72		0.98	0.98	0.99	1.0	0.71	PYRLX
TAHFX	0.65	0.98		0.98	0.99	0.99	0.64	TAHFX
SGYAX	0.7	0.98	0.98		0.98	0.98	0.7	SGYAX
MRHYX	0.67	0.99	0.99	0.98		0.99	0.66	MRHYX
DNHYX	0.67	1.0	0.99	0.98	0.99		0.66	DNHYX
AGDYX	0.99	0.71	0.64	0.7	0.66	0.66		AGDYX
	JDHYX	PYRLX	TAHFX	SGYAX	MRHYX	DNHYX	AGDYX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay 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'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JDHYX	0.16	0.04	(0.51)	0.37	(0.27)	0.56	(0.14)	1.26
PYRLX	0.12	0.06	(0.57)	(1.89)	(0.18)	0.32	(0.16)	1.05
TAHFX	0.13	0.06	(0.53)	7.03	(0.22)	0.37	(0.12)	1.00
SGYAX	0.14	0.03	(0.65)	0.42	(0.26)	0.44	(0.14)	0.99
MRHYX	0.12	0.06	(0.60)	(4.85)	(0.19)	0.24	(0.12)	1.08
DNHYX	0.14	0.06	(0.57)	(2.94)	(0.21)	0.34	(0.12)	1.19
AGDYX	0.13	0.03	(0.43)	0.34	(0.22)	0.44	(0.15)	1.02

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