Mainstay Indexed Correlations

MIXIX Fund

USD 9.10 0.01 0.11%

The current 90-days correlation between Mainstay Indexed Bond and Mainstay Balanced Fund is 0.05 (i.e., Significant diversification). The correlation of Mainstay Indexed 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 Indexed Correlation With Market

Weak diversification

The correlation between Mainstay Indexed Bond and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Indexed Bond 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 Indexed Bond. 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

0.75	MKHCX	Mainstay High Yield	Pair Corr
0.75	MKTBX	Mainstay Tax Free	Pair Corr
0.75	MKTRX	Mainstay Income Builder	Pair Corr
0.71	MMHAX	Mainstay High Yield	Pair Corr
0.77	MMHDX	Mainstay High Yield	Pair Corr
0.71	MMHIX	Mainstay High Yield	Pair Corr
0.62	MNERX	Mainstay Conservative Etf	Pair Corr
0.62	MNEVX	Mainstay Conservative Etf	Pair Corr
0.61	MNEAX	Mainstay Conservative Etf	Pair Corr
0.64	MNEKX	Mainstay Conservative Etf	Pair Corr
0.72	MNOCX	Mainstay New York	Pair Corr
0.71	MNOAX	Mainstay New York	Pair Corr
0.71	MNOIX	Mainstay New York	Pair Corr
0.72	MNOLX	Mainstay Mackay New	Pair Corr

Related Correlations Analysis

	MBAIX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL
MBAIX		0.59	0.72	0.51	-0.57	0.69	-0.73	-0.09	0.4	0.03	MBAIX
AQUI	0.59		0.91	0.56	-0.6	0.82	-0.74	-0.13	0.31	0.0	AQUI
MSTSX	0.72	0.91		0.68	-0.69	0.93	-0.84	-0.24	0.41	0.0	MSTSX
LBHIX	0.51	0.56	0.68		-0.2	0.81	-0.42	0.19	-0.13	0.46	LBHIX
VIASP	-0.57	-0.6	-0.69	-0.2		-0.52	0.89	0.71	-0.63	0.63	VIASP
RRTLX	0.69	0.82	0.93	0.81	-0.52		-0.73	-0.06	0.28	0.22	RRTLX
OSHDF	-0.73	-0.74	-0.84	-0.42	0.89	-0.73		0.45	-0.58	0.32	OSHDF
70082LAB3	-0.09	-0.13	-0.24	0.19	0.71	-0.06	0.45		-0.49	0.74	70082LAB3
SITKF	0.4	0.31	0.41	-0.13	-0.63	0.28	-0.58	-0.49		-0.47	SITKF
RWAYL	0.03	0.0	0.0	0.46	0.63	0.22	0.32	0.74	-0.47		RWAYL
	MBAIX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL

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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

RRTLX	+ 0.93	MSTSX
MSTSX	+ 0.91	AQUI
OSHDF	+ 0.89	VIASP
RRTLX	+ 0.82	AQUI
RRTLX	+ 0.81	LBHIX
RWAYL	+ 0.74	70082LAB3

High negative correlations

OSHDF	- 0.84	MSTSX
OSHDF	- 0.74	AQUI
OSHDF	- 0.73	RRTLX
OSHDF	- 0.73	MBAIX
VIASP	- 0.69	MSTSX
SITKF	- 0.63	VIASP

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Indexed 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 Indexed'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
MBAIX	0.39	(0.10)	0.00	(0.85)	0.00	0.00	0.65	(0.62)	5.95
AQUI	2.79	(1.42)	0.00	0.72	0.00	0.00	0.00	0.00	93.33
MSTSX	0.57	(0.21)	0.00	(5.54)	0.00	0.00	0.85	(1.18)	6.73
LBHIX	0.11	(0.02)	0.00	(1.18)	0.00	0.00	0.24	(0.24)	0.94
VIASP	0.73	0.21	0.18	(1.91)	0.85	(0.85)	2.01	(1.10)	4.91
RRTLX	0.27	(0.09)	0.00	(1.44)	0.00	0.00	0.48	(0.56)	3.47
OSHDF	46.68	24.07	0.00	(1.60)	0.00	0.00	0.00	0.00	1,329
70082LAB3	0.66	0.10	0.10	(0.76)	0.80	(0.83)	1.78	(0.78)	6.86
SITKF	4.81	0.08	0.01	0.09	4.93	(8.03)	12.90	(9.09)	30.02
RWAYL	0.15	0.00	0.01	0.15	0.20	(0.19)	0.36	(0.28)	1.49

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