Mainstay Funds Correlations
| MIPXX Fund | USD 1.00 0.00 0.00% |
The current 90-days correlation between Mainstay Funds and Invesco Technology Fund is 0.02 (i.e., Significant diversification). The correlation of Mainstay Funds 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 Funds Correlation With Market
Average diversification
The correlation between The Mainstay Funds and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Mainstay Funds and DJI in the same portfolio, assuming nothing else is changed.
Mainstay |
Moving against Mainstay Money Market Fund
| 0.43 | MRK | Merck Company Sell-off Trend | PairCorr |
| 0.38 | PFHCX | Pacific Funds Small | PairCorr |
| 0.35 | VTIAX | Vanguard Total Inter | PairCorr |
| 0.32 | VGTSX | Vanguard Total Inter | PairCorr |
Related Correlations Analysis
| 0.84 | 0.47 | 0.54 | 0.39 | 0.69 | 0.22 | ITYYX | ||
| 0.84 | 0.72 | 0.82 | 0.67 | 0.84 | 0.17 | DTEYX | ||
| 0.47 | 0.72 | 0.91 | 0.97 | 0.83 | 0.2 | CMTFX | ||
| 0.54 | 0.82 | 0.91 | 0.9 | 0.92 | 0.04 | VITAX | ||
| 0.39 | 0.67 | 0.97 | 0.9 | 0.81 | 0.13 | DRGTX | ||
| 0.69 | 0.84 | 0.83 | 0.92 | 0.81 | 0.11 | TEFQX | ||
| 0.22 | 0.17 | 0.2 | 0.04 | 0.13 | 0.11 | TOWTX | ||
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Risk-Adjusted Indicators
There is a big difference between Mainstay Money Market Fund performing well and Mainstay Funds Money Market 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 Funds' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ITYYX | 1.18 | 0.06 | 0.02 | 0.12 | 2.38 | 2.36 | 12.95 | |||
| DTEYX | 0.91 | 0.08 | 0.05 | 0.50 | 1.19 | 1.60 | 5.62 | |||
| CMTFX | 0.93 | 0.08 | 0.05 | 0.56 | 1.29 | 1.96 | 5.99 | |||
| VITAX | 0.89 | 0.15 | 0.10 | 0.67 | 1.18 | 1.84 | 6.58 | |||
| DRGTX | 0.96 | 0.10 | 0.05 | 18.84 | 1.37 | 1.87 | 7.49 | |||
| TEFQX | 1.30 | 0.14 | 0.07 | 0.31 | 1.68 | 2.92 | 8.29 | |||
| TOWTX | 0.64 | (0.04) | 0.00 | (0.44) | 0.00 | 1.12 | 6.26 |