NYLI MacKay Correlations

CPLB Etf

21.14 0.06 0.28%

The current 90-days correlation between NYLI MacKay Core and MFS Active Core is 0.85 (i.e., Very poor diversification). The correlation of NYLI MacKay 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.

NYLI MacKay Correlation With Market

Good diversification

The correlation between NYLI MacKay Core and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NYLI MacKay Core and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in NYLI MacKay Core. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with NYLI Etf

0.98	IUSB	iShares Core Total	Pair Corr
0.9	FIXD	First Trust TCW	Pair Corr
0.98	TOTL	SPDR DoubleLine Total	Pair Corr
0.98	HTRB	Hartford Total Return	Pair Corr
0.97	GTO	Invesco Total Return	Pair Corr
0.98	EUSB	iShares Trust	Pair Corr
0.98	JCPB	JPMorgan Core Plus	Pair Corr
0.91	VBND	Vident Core Bond	Pair Corr
0.98	CGCP	Capital Group Core	Pair Corr
0.9	FXY	Invesco CurrencyShares	Pair Corr
0.91	PMBS	PIMCO Mortgage Backed	Pair Corr
0.86	IDOG	ALPS International Sector	Pair Corr
0.88	INTF	iShares Edge MSCI	Pair Corr
0.8	GLD	SPDR Gold Shares	Pair Corr
0.77	TRV	The Travelers Companies	Pair Corr
0.78	PG	Procter Gamble	Pair Corr
0.88	VZ	Verizon Communications	Pair Corr
0.86	T	ATT Inc	Pair Corr
0.88	JNJ	Johnson Johnson	Pair Corr

Moving against NYLI Etf

0.73	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.48	CAT	Caterpillar	Pair Corr
0.47	AA	Alcoa Corp	Pair Corr
0.38	BA	Boeing	Pair Corr
0.38	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.34	0.73	-0.5	0.53	0.24	0.12	0.89	-0.82	0.08	META
MSFT	-0.34		-0.65	0.27	-0.74	0.26	0.33	-0.12	0.56	-0.08	MSFT
UBER	0.73	-0.65		-0.35	0.81	-0.06	-0.2	0.64	-0.85	0.38	UBER
F	-0.5	0.27	-0.35		-0.26	0.19	0.02	-0.31	0.56	-0.06	F
T	0.53	-0.74	0.81	-0.26		-0.38	-0.41	0.35	-0.7	0.34	T
A	0.24	0.26	-0.06	0.19	-0.38		0.69	0.54	-0.05	-0.26	A
CRM	0.12	0.33	-0.2	0.02	-0.41	0.69		0.33	-0.03	-0.57	CRM
JPM	0.89	-0.12	0.64	-0.31	0.35	0.54	0.33		-0.68	0.23	JPM
MRK	-0.82	0.56	-0.85	0.56	-0.7	-0.05	-0.03	-0.68		-0.18	MRK
XOM	0.08	-0.08	0.38	-0.06	0.34	-0.26	-0.57	0.23	-0.18		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.89	META
T	+ 0.81	UBER
UBER	+ 0.73	META
CRM	+ 0.69	A
JPM	+ 0.64	UBER
MRK	+ 0.56	MSFT

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.82	META
T	- 0.74	MSFT
MRK	- 0.7	T
MRK	- 0.68	JPM
UBER	- 0.65	MSFT

NYLI MacKay Competition Risk-Adjusted Indicators

There is a big difference between NYLI Etf performing well and NYLI MacKay ETF 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 NYLI MacKay'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
META	1.60	0.07	0.00	(0.08)	0.00	0.00	2.57	(4.35)	8.65
MSFT	1.07	(0.15)	0.00	(0.39)	0.00	0.00	2.56	(2.14)	10.31
UBER	1.89	0.18	0.10	0.28	2.38	(1.97)	4.72	(3.30)	12.75
F	1.41	(0.02)	0.00	0.47	0.00	0.00	2.71	(2.88)	10.14
T	1.04	0.23	0.17	0.30	1.64	(1.07)	1.90	(2.12)	11.66
A	1.12	(0.22)	0.00	(1.04)	0.00	0.00	2.80	(2.59)	9.03
CRM	1.42	(0.29)	0.00	(0.39)	0.00	0.00	2.72	(4.04)	8.88
JPM	1.07	0.03	0.00	(0.12)	0.00	0.00	1.97	(3.35)	6.85
MRK	1.21	(0.13)	0.00	1.63	0.00	0.00	2.08	(2.24)	11.57
XOM	1.01	(0.02)	0.00	(0.21)	0.00	0.00	2.07	(2.36)	5.89

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