Mainstay Epoch Correlations

ICEVX Fund  USD 39.78  0.01  0.03%   
The current 90-days correlation between Mainstay Epoch Inter and Mainstay High Yield is 0.2 (i.e., Modest 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

Average diversification

The correlation between Mainstay Epoch International and DJI is 0.13 (i.e., Average 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

  0.92FCICX Mainstay PinestonePairCorr

Moving against Mainstay Mutual Fund

  0.84APSDX Mainstay Fiera SmidPairCorr
  0.83APSLX Mainstay Fiera SmidPairCorr
  0.79MLABX Mainstay Large CapPairCorr
  0.79MLAIX Mainstay Large CapPairCorr
  0.78MLRMX Mainstay Winslow LargePairCorr
  0.76MMPDX Mainstay Wmc ValuePairCorr
  0.76MMPCX Mainstay Map EquityPairCorr
  0.63MLACX Mainstay Large CapPairCorr
  0.58MLAAX Mainstay Large CapPairCorr
  0.53MMRIX Mainstay ModeratePairCorr
  0.51MMRSX Mainstay ModeratePairCorr
  0.49MMRAX Mainstay ModeratePairCorr
  0.49MMRBX Mainstay ModeratePairCorr
  0.45MMRCX Mainstay ModeratePairCorr
  0.45MNELX Mainstay Conservative EtfPairCorr
  0.43MNEAX Mainstay Conservative EtfPairCorr
  0.4MNEVX Mainstay Conservative EtfPairCorr
  0.39MNERX Mainstay Conservative EtfPairCorr
  0.37MNEKX Mainstay Conservative EtfPairCorr
  0.8MOPCX Mainstay Epoch SmallPairCorr
  0.8MOPAX Mainstay Epoch SmallPairCorr
  0.8MOPIX Mainstay Epoch SmallPairCorr
  0.8MOTBX Mainstay Epoch SmallPairCorr
  0.68EPLCX Mainstay Epoch EquityPairCorr
  0.67EPLPX Mainstay Epoch EquityPairCorr
  0.66EPLKX Mainstay Epoch EquityPairCorr
  0.66EPLBX Mainstay Epoch EquityPairCorr
  0.65EPLMX Mainstay Epoch EquityPairCorr
  0.64MOEAX Mainstay Growth EtfPairCorr
  0.64MOECX Mainstay Growth EtfPairCorr
  0.64MOEIX Mainstay Growth EtfPairCorr
  0.63MOERX Mainstay Growth EtfPairCorr
  0.63MOEVX Mainstay Growth EtfPairCorr

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   
MLAAXMLACX
MLAIXMLABX
MMHDXMMHAX
MLRMXMLABX
MLRMXMLAIX
MMHDXMKTBX
  
High negative correlations   
MLAIXMKTBX
MLABXMKTBX
MLRMXMKTBX
MMHDXMLAAX
MMHDXMLACX
MLACXMKTBX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MKHCX  0.12  0.00 (0.53) 0.12  0.00 
 0.19 
 0.58 
MKTBX  0.15  0.01 (0.37)(0.05) 0.21 
 0.32 
 1.28 
MKTRX  0.37  0.00 (0.27) 0.12  0.42 
 0.77 
 1.90 
MLACX  0.67  0.14  0.09  0.33  0.74 
 1.66 
 5.43 
MLABX  0.78  0.14  0.00 (8.07) 1.17 
 1.65 
 5.41 
MLAAX  0.70  0.17  0.11  0.35  0.73 
 1.74 
 5.42 
MLAIX  0.77  0.15  0.00 (5.02) 1.15 
 1.68 
 5.51 
MLRMX  0.79  0.11  0.01  0.50  1.16 
 1.74 
 5.54 
MMHAX  0.20  0.01 (0.25) 0.28  0.29 
 0.42 
 1.92 
MMHDX  0.19  0.01 (0.26) 0.23  0.28 
 0.42 
 1.93