Mainstay Epoch Correlations

EPLIX Fund

USD 21.71 0.12 0.56%

The current 90-days correlation between Mainstay Epoch Equity and Guggenheim High Yield is 0.16 (i.e., Average 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 Equity 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 Equity and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Mainstay Epoch Equity. 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 gross domestic product.

Moving together with Mainstay Mutual Fund

0.78	MLGRX	Mainstay Large Cap	Pair Corr
0.8	MLINX	Mainstay Large Cap	Pair Corr
0.93	MLRTX	Mainstay Large Cap	Pair Corr
0.91	MLRSX	Mainstay Large Cap	Pair Corr
0.82	MLRRX	Mainstay Large Cap	Pair Corr
0.86	EPLDX	Mainstay Epoch Equity	Pair Corr
0.63	EPSRX	Mainstay Epoch Global	Pair Corr
0.62	EPSIX	Mainstay Epoch Global	Pair Corr
0.82	MSMIX	Mainstay Map Equity	Pair Corr
0.75	MBERX	Mainstay Balanced	Pair Corr
0.83	MBINX	Mainstay Balanced	Pair Corr
0.64	KLGNX	Mainstay Nerstone Growth	Pair Corr

Moving against Mainstay Mutual Fund

0.44	MSYEX	Mainstay Mackay Unco	Pair Corr
0.45	MSYDX	Mainstay Unconstrained	Pair Corr
0.44	MTMNX	Mainstay Total Return	Pair Corr
0.43	MTRDX	Mainstay Total Return	Pair Corr
0.4	ICELX	Mainstay Epoch Inter	Pair Corr

Related Correlations Analysis

	SHYIX	FAGIX	PHYZX	ARTFX	PRHYX	NHIEX	IMYCX	FPIOX
SHYIX		0.79	0.8	0.84	0.85	0.89	0.91	0.94	SHYIX
FAGIX	0.79		0.72	0.94	0.68	0.84	0.78	0.92	FAGIX
PHYZX	0.8	0.72		0.82	0.9	0.92	0.9	0.84	PHYZX
ARTFX	0.84	0.94	0.82		0.73	0.88	0.9	0.95	ARTFX
PRHYX	0.85	0.68	0.9	0.73		0.91	0.83	0.84	PRHYX
NHIEX	0.89	0.84	0.92	0.88	0.91		0.88	0.94	NHIEX
IMYCX	0.91	0.78	0.9	0.9	0.83	0.88		0.91	IMYCX
FPIOX	0.94	0.92	0.84	0.95	0.84	0.94	0.91		FPIOX
	SHYIX	FAGIX	PHYZX	ARTFX	PRHYX	NHIEX	IMYCX	FPIOX

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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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SHYIX	0.12	0.02	(0.57)	4.26	(0.20)	0.25	(0.25)	0.74
FAGIX	0.18	0.07	(0.14)	1.64	(0.26)	0.41	(0.29)	1.18
PHYZX	0.11	0.01	(0.48)	0.49	(0.26)	0.41	(0.21)	0.63
ARTFX	0.10	0.03	(0.60)	1.87	(0.17)	0.22	(0.11)	0.77
PRHYX	0.12	0.00	(0.51)	0.12	(0.23)	0.34	(0.17)	1.01
NHIEX	0.12	0.01	(0.60)	0.31	(0.19)	0.26	(0.13)	0.92
IMYCX	0.11	0.02	(0.49)	(1.62)	(0.18)	0.29	(0.29)	0.86
FPIOX	0.12	0.03	(0.45)	3.05	(0.19)	0.34	(0.23)	0.80

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