Mainstay Total Correlations

MTMNX Fund

USD 9.33 0.02 0.21%

The current 90-days correlation between Mainstay Total Return and Mh Elite Fund 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 0.11 (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 state.

Moving together with Mainstay Mutual Fund

0.77	MKINX	Mainstay Tax Free	Pair Corr
0.75	MMHEX	Mainstay Mackay High	Pair Corr
0.76	MMHVX	Mainstay High Yield	Pair Corr
0.73	MNODX	Mainstay Mackay New	Pair Corr
0.72	MNOVX	Mainstay New York	Pair Corr
0.75	MSCVX	Mainstay California Tax	Pair Corr
0.71	MSODX	Mainstay Mackay Cali	Pair Corr
0.79	MSYEX	Mainstay Mackay Unco	Pair Corr
0.68	MSYDX	Mainstay Unconstrained	Pair Corr
0.61	ICELX	Mainstay Epoch Inter	Pair Corr
0.78	MTBDX	Mainstay Mackay Tax	Pair Corr
0.71	MTFEX	Mainstay Mackay Strategic	Pair Corr
0.7	MTFDX	Mainstay Mackay Strategic	Pair Corr
0.72	MTFHX	Mainstay Mackay Strategic	Pair Corr
0.74	MTFFX	Mainstay Mackay Strategic	Pair Corr
0.88	MTRDX	Mainstay Total Return	Pair Corr

Moving against Mainstay Mutual Fund

0.46

MCSSX

Mainstay Mon Stock

Pair Corr

Related Correlations Analysis

	MHEFX	AOUNX	TTRBX	DLTNX	REMVX	EICVX	OPTCX
MHEFX		0.56	0.3	0.19	0.67	-0.39	0.73	MHEFX
AOUNX	0.56		0.65	0.66	0.82	-0.59	0.76	AOUNX
TTRBX	0.3	0.65		0.91	0.58	-0.1	0.52	TTRBX
DLTNX	0.19	0.66	0.91		0.58	-0.16	0.42	DLTNX
REMVX	0.67	0.82	0.58	0.58		-0.49	0.63	REMVX
EICVX	-0.39	-0.59	-0.1	-0.16	-0.49		-0.48	EICVX
OPTCX	0.73	0.76	0.52	0.42	0.63	-0.48		OPTCX
	MHEFX	AOUNX	TTRBX	DLTNX	REMVX	EICVX	OPTCX

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

DLTNX	+ 0.91	TTRBX
REMVX	+ 0.82	AOUNX
OPTCX	+ 0.76	AOUNX
OPTCX	+ 0.73	MHEFX
REMVX	+ 0.67	MHEFX
DLTNX	+ 0.66	AOUNX

High negative correlations

EICVX	- 0.59	AOUNX
EICVX	- 0.49	REMVX
OPTCX	- 0.48	EICVX
EICVX	- 0.39	MHEFX
EICVX	- 0.16	DLTNX
EICVX	- 0.1	TTRBX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MHEFX	0.52	0.06	(0.01)	1.12	0.80	(0.54)	1.10	(1.17)	3.50
AOUNX	0.06	0.00	(0.63)	0.00	0.00	(0.19)	0.10	(0.10)	0.51
TTRBX	0.10	(0.01)	(0.56)	(0.13)	0.08	(0.13)	0.20	(0.20)	0.60
DLTNX	0.14	0.00	(0.40)	(0.15)	0.09	(0.21)	0.34	(0.23)	0.79
REMVX	0.62	0.11	0.04	1.59	0.71	(0.71)	1.30	(0.83)	4.51
EICVX	0.65	(0.12)	0.00	(0.47)	0.00	0.00	1.32	(1.11)	9.51
OPTCX	0.17	0.00	(0.26)	0.07	0.09	(0.22)	0.40	(0.30)	0.91

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