Mainstay Epoch Correlations

ICEVX Fund  USD 39.78  0.01  0.03%   
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 0.24 (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

  0.71CLARX Voya Real EstatePairCorr
  0.84MASAX Mainstay UnconstrainedPairCorr
  0.85MTMCX Mainstay Total ReturnPairCorr

Moving against Mainstay Mutual Fund

  0.8MOPCX Mainstay Epoch SmallPairCorr
  0.78MLACX Mainstay Large CapPairCorr
  0.78MLAIX Mainstay Large CapPairCorr
  0.78MLRMX Mainstay Winslow LargePairCorr
  0.75MMPCX Mainstay Map EquityPairCorr
  0.66EPLCX Mainstay Epoch EquityPairCorr
  0.64MOEAX Mainstay Growth EtfPairCorr
  0.63MOEVX Mainstay Growth EtfPairCorr
  0.62MOECX Mainstay Growth EtfPairCorr
  0.49MMRSX Mainstay ModeratePairCorr
  0.46MMRCX Mainstay ModeratePairCorr
  0.46MMRBX Mainstay ModeratePairCorr
  0.38FCUDX Mainstay Pinestone EquityPairCorr
  0.76MSPIX Mainstay Sp 500PairCorr
  0.76MSXAX Mainstay Sp 500PairCorr
  0.74MDHCX Mainstay Short DurationPairCorr
  0.67KLGBX Mainstay Nerstone GrowthPairCorr
  0.66MBAIX Mainstay BalancedPairCorr
  0.66MWFAX Mainstay Equity EtfPairCorr
  0.64MCNVX Mainstay ConvertiblePairCorr
  0.64MCOAX Mainstay VertiblePairCorr
  0.63MBACX Mainstay BalancedPairCorr
  0.63MBNBX Mainstay BalancedPairCorr
  0.62MCCVX Mainstay VertiblePairCorr
  0.62MCSVX Mainstay ConvertiblePairCorr
  0.59MCSDX Mainstay Wmc EnduringPairCorr
  0.54MDAVX Mainstay Moderate EtfPairCorr
  0.53MDAKX Mainstay Moderate 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   
MBAIXMBACX
MBACXMSPIX
MBAIXMSPIX
CURAXCURCX
MSPIXCURCX
CURZXCURCX
  
High negative correlations   
MSRPXMSRLX
MSRPXMSREX
MSRLXMSREX
MSRPXMBAIX
MSRLXMBAIX
MSREXMBAIX

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
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  0.50  0.03  0.01  0.18  0.49 
 1.17 
 3.82 
CURZX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
MBACX  0.31 (0.04)(0.30) 0.06  0.24 
 0.63 
 2.47 
MBAIX  0.32  0.03 (0.29)(10.90) 0.27 
 0.65 
 2.43 
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 
MSRPX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00