Mainstay High Correlations

Summary

MKHCXDelisted Fund

USD 5.22 0.00 0.00%

The current 90-days correlation between Mainstay High Yield and T Rowe Price is -0.08 (i.e., Good diversification). The correlation of Mainstay High 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 High Correlation With Market

Good diversification

The correlation between Mainstay High Yield and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay High Yield and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. 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 main economic indicators.

Moving together with Mainstay Mutual Fund

0.61	T	ATT Inc Earnings Call Today	Pair Corr
0.69	VZ	Verizon Communications	Pair Corr
0.69	KO	Coca Cola	Pair Corr

Moving against Mainstay Mutual Fund

0.73	VSTSX	Vanguard Total Stock	Pair Corr
0.73	VSMPX	Vanguard Total Stock	Pair Corr
0.73	VITSX	Vanguard Total Stock	Pair Corr
0.73	VINIX	Vanguard Institutional	Pair Corr
0.73	VTSAX	Vanguard Total Stock	Pair Corr
0.7	VFFSX	Vanguard 500 Index	Pair Corr
0.7	VFIAX	Vanguard 500 Index	Pair Corr
0.8	MSFT	Microsoft	Pair Corr
0.79	HD	Home Depot	Pair Corr
0.64	DIS	Walt Disney	Pair Corr
0.6	AA	Alcoa Corp	Pair Corr
0.56	BA	Boeing	Pair Corr
0.55	HPQ	HP Inc	Pair Corr
0.47	WMT	Walmart Aggressive Push	Pair Corr

Related Correlations Analysis

	PRDMX	BPSCX	SHPSX	ASVIX	AOPAX	CSCVX	UCPIX	LVAQX
PRDMX		0.96	-0.9	0.9	-0.1	0.23	-0.92	0.87	PRDMX
BPSCX	0.96		-0.93	0.94	-0.16	0.26	-0.95	0.92	BPSCX
SHPSX	-0.9	-0.93		-0.92	0.35	-0.21	0.99	-0.94	SHPSX
ASVIX	0.9	0.94	-0.92		-0.2	0.38	-0.93	0.96	ASVIX
AOPAX	-0.1	-0.16	0.35	-0.2		0.4	0.34	-0.26	AOPAX
CSCVX	0.23	0.26	-0.21	0.38	0.4		-0.17	0.41	CSCVX
UCPIX	-0.92	-0.95	0.99	-0.93	0.34	-0.17		-0.94	UCPIX
LVAQX	0.87	0.92	-0.94	0.96	-0.26	0.41	-0.94		LVAQX
	PRDMX	BPSCX	SHPSX	ASVIX	AOPAX	CSCVX	UCPIX	LVAQX

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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

UCPIX	+ 0.99	SHPSX
BPSCX	+ 0.96	PRDMX
LVAQX	+ 0.96	ASVIX
ASVIX	+ 0.94	BPSCX
LVAQX	+ 0.92	BPSCX
ASVIX	+ 0.9	PRDMX

High negative correlations

UCPIX	- 0.95	BPSCX
LVAQX	- 0.94	UCPIX
LVAQX	- 0.94	SHPSX
UCPIX	- 0.93	ASVIX
SHPSX	- 0.93	BPSCX
ASVIX	- 0.92	SHPSX

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay High 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 High'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
PRDMX	1.34	(0.18)	0.00	(0.22)	0.00	0.00	1.84	(3.77)	7.15
BPSCX	0.83	(0.08)	0.00	(0.16)	0.00	0.00	1.51	(2.10)	4.06
SHPSX	1.00	0.14	0.25	(0.21)	0.93	(1.21)	2.75	(1.56)	7.00
ASVIX	0.95	(0.17)	0.00	(0.21)	0.00	0.00	1.23	(2.37)	6.50
AOPAX	0.48	0.05	0.12	0.04	0.67	(0.51)	1.15	(1.14)	3.90
CSCVX	0.43	(0.07)	0.00	(0.27)	0.00	0.00	0.97	(1.23)	4.53
UCPIX	1.93	0.26	0.22	(0.20)	1.89	(2.27)	5.49	(3.25)	13.88
LVAQX	0.83	(0.14)	0.00	(0.24)	0.00	0.00	1.18	(1.87)	3.80

Mainstay High Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Mainstay High mutual fund to make a market-neutral strategy. Peer analysis of Mainstay High could also be used in its relative valuation, which is a method of valuing Mainstay High by comparing valuation metrics with similar companies.

T Rowe Price Boston Partners Small Short Small Cap Profund Small Cap Value Allianzgi International Small Cap Cornercap Small Cap Value Ultrashort Small Cap Profund Lsv Small Cap American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

Still Interested in Mainstay High Yield?

Investing in delisted funds can be risky, as the mutual fund is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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