Mainstay Mackay Correlations

MCAMX Fund

USD 9.74 0.01 0.10%

The current 90-days correlation between Mainstay Mackay Cali and Forum Funds is 0.45 (i.e., Very weak diversification). The correlation of Mainstay 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Mainstay Mackay Correlation With Market

Modest diversification

The correlation between Mainstay Mackay California 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 Mackay California and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mainstay Mackay California. 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 population.

Moving together with Mainstay Mutual Fund

0.78	MLABX	Mainstay Large Cap	Pair Corr
0.91	MMHAX	Mainstay High Yield	Pair Corr
0.92	MMHDX	Mainstay High Yield	Pair Corr
0.9	MMHIX	Mainstay High Yield	Pair Corr
0.71	MMRAX	Mainstay Moderate	Pair Corr
0.71	MMRCX	Mainstay Moderate	Pair Corr
0.62	MMRBX	Mainstay Moderate	Pair Corr
0.72	MMRIX	Mainstay Moderate	Pair Corr
0.71	MMRSX	Mainstay Moderate	Pair Corr
0.73	MNERX	Mainstay Conservative Etf	Pair Corr
0.78	MNEVX	Mainstay Conservative Etf	Pair Corr
0.73	MNEAX	Mainstay Conservative Etf	Pair Corr
0.72	MNELX	Mainstay Conservative Etf	Pair Corr
0.73	MNEKX	Mainstay Conservative Etf	Pair Corr
0.95	MNOCX	Mainstay New York	Pair Corr
0.94	MNOAX	Mainstay New York	Pair Corr
0.94	MNOIX	Mainstay New York	Pair Corr
0.94	MNOLX	Mainstay Mackay New	Pair Corr
0.64	EPLPX	Mainstay Epoch Equity	Pair Corr
0.61	EPLMX	Mainstay Epoch Equity	Pair Corr
0.61	EPLKX	Mainstay Epoch Equity	Pair Corr
0.86	EPLBX	Mainstay Epoch Equity	Pair Corr
0.61	EPSPX	Mainstay Epoch Global	Pair Corr
0.61	EPSKX	Mainstay Epoch Global	Pair Corr
0.61	MOEAX	Mainstay Growth Etf	Pair Corr

Related Correlations Analysis

	FLXIX	FCSKX	PCNBX	XAVKX	CNSCX	HICSX	PBXIX
FLXIX		0.22	0.0	0.49	0.25	0.48	0.4	FLXIX
FCSKX	0.22		0.0	0.89	0.94	0.87	0.91	FCSKX
PCNBX	0.0	0.0		0.0	0.0	0.0	0.0	PCNBX
XAVKX	0.49	0.89	0.0		0.91	0.92	0.88	XAVKX
CNSCX	0.25	0.94	0.0	0.91		0.94	0.93	CNSCX
HICSX	0.48	0.87	0.0	0.92	0.94		0.9	HICSX
PBXIX	0.4	0.91	0.0	0.88	0.93	0.9		PBXIX
	FLXIX	FCSKX	PCNBX	XAVKX	CNSCX	HICSX	PBXIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

CNSCX	+ 0.94	FCSKX
HICSX	+ 0.94	CNSCX
PBXIX	+ 0.93	CNSCX
HICSX	+ 0.92	XAVKX
PBXIX	+ 0.91	FCSKX
CNSCX	+ 0.91	XAVKX

High negative correlations

PBXIX	- 0.0	PCNBX
HICSX	- 0.0	PCNBX
CNSCX	- 0.0	PCNBX
XAVKX	- 0.0	PCNBX
PCNBX	- 0.0	FCSKX
PCNBX	- 0.0	FLXIX

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Mackay 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 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
FLXIX	0.11	0.01	0.11	0.04	0.09	(0.15)	0.19	(0.19)	0.87
FCSKX	0.47	(0.05)	0.00	(0.15)	0.00	0.00	0.76	(0.90)	2.91
PCNBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XAVKX	0.48	(0.01)	0.00	(0.05)	0.00	0.00	0.89	(0.81)	2.97
CNSCX	0.52	(0.05)	0.00	(0.15)	0.00	0.00	0.84	(0.88)	3.11
HICSX	0.56	(0.03)	0.00	(0.10)	0.00	0.00	1.02	(1.12)	3.22
PBXIX	0.38	(0.03)	0.00	(0.13)	0.00	0.00	0.63	(0.88)	2.55

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC