Mainstay Epoch Correlations

ICEVX Fund

USD 40.01 0.01 0.03%

The current 90-days correlation between Mainstay Epoch Inter and Mutual Of America is 0.48 (i.e., Very weak diversification). The correlation of Mainstay Epoch 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 Epoch Correlation With Market

Modest diversification

The correlation between Mainstay Epoch International and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Epoch International and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Mainstay Epoch International. 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 real.

Moving together with Mainstay Mutual Fund

0.94

FCICX

Mainstay Pinestone

Pair Corr

Moving against Mainstay Mutual Fund

0.82	APSDX	Mainstay Fiera Smid	Pair Corr
0.81	APSLX	Mainstay Fiera Smid	Pair Corr
0.76	MMPDX	Mainstay Wmc Value	Pair Corr
0.75	MMPCX	Mainstay Map Equity	Pair Corr
0.66	MLAIX	Mainstay Large Cap	Pair Corr
0.6	MLAAX	Mainstay Large Cap	Pair Corr
0.58	MLRMX	Mainstay Winslow Large	Pair Corr
0.49	MMRIX	Mainstay Moderate	Pair Corr
0.48	MMRAX	Mainstay Moderate	Pair Corr
0.47	MMRSX	Mainstay Moderate	Pair Corr
0.45	MKHCX	Mainstay High Yield	Pair Corr
0.45	MMRCX	Mainstay Moderate	Pair Corr
0.45	MMRBX	Mainstay Moderate	Pair Corr
0.4	MNELX	Mainstay Conservative Etf	Pair Corr
0.38	MNEVX	Mainstay Conservative Etf	Pair Corr
0.38	MNEAX	Mainstay Conservative Etf	Pair Corr
0.37	MNERX	Mainstay Conservative Etf	Pair Corr
0.35	MLACX	Mainstay Large Cap	Pair Corr
0.35	MLABX	Mainstay Large Cap	Pair Corr
0.35	MNEKX	Mainstay Conservative Etf	Pair Corr
0.8	MOPAX	Mainstay Epoch Small	Pair Corr
0.8	MOPIX	Mainstay Epoch Small	Pair Corr
0.79	MOPCX	Mainstay Epoch Small	Pair Corr
0.79	MOTBX	Mainstay Epoch Small	Pair Corr
0.76	MAPAX	Mainstay Map Equity	Pair Corr
0.63	MOEAX	Mainstay Growth Etf	Pair Corr
0.63	MOEIX	Mainstay Growth Etf	Pair Corr
0.62	MOECX	Mainstay Growth Etf	Pair Corr
0.62	MOERX	Mainstay Growth Etf	Pair Corr
0.62	MOEVX	Mainstay Growth Etf	Pair Corr
0.58	MOPBX	Mainstay Mon Stock	Pair Corr

Related Correlations Analysis

	MACAX	FVOKX	ICVRX	LMEIX	JAIUX	LIGFX
MACAX		0.41	0.85	0.3	0.89	0.45	MACAX
FVOKX	0.41		0.43	-0.07	0.61	-0.03	FVOKX
ICVRX	0.85	0.43		0.67	0.76	0.78	ICVRX
LMEIX	0.3	-0.07	0.67		0.05	0.97	LMEIX
JAIUX	0.89	0.61	0.76	0.05		0.22	JAIUX
LIGFX	0.45	-0.03	0.78	0.97	0.22		LIGFX
	MACAX	FVOKX	ICVRX	LMEIX	JAIUX	LIGFX

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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

LIGFX	+ 0.97	LMEIX
JAIUX	+ 0.89	MACAX
ICVRX	+ 0.85	MACAX
LIGFX	+ 0.78	ICVRX
JAIUX	+ 0.76	ICVRX
LMEIX	+ 0.67	ICVRX

High negative correlations

LMEIX	- 0.07	FVOKX
LIGFX	- 0.03	FVOKX

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Epoch 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 Epoch'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
MACAX	0.26	(0.03)	(0.24)	0.05	0.39	(0.27)	0.51	(0.51)	2.41
FVOKX	0.66	0.02	(0.13)	(0.78)	0.85	(0.65)	1.16	(1.26)	4.37
ICVRX	0.26	(0.01)	(0.27)	0.11	0.25	(0.29)	0.64	(0.55)	1.28
LMEIX	0.31	0.01	(0.15)	0.16	0.16	(0.37)	0.81	(0.53)	2.02
JAIUX	0.23	(0.01)	(0.40)	0.04	0.25	(0.26)	0.49	(0.40)	1.39
LIGFX	0.24	0.00	(0.29)	0.14	0.12	(0.29)	0.55	(0.49)	1.23

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