Mainstay Tax Correlations

Summary

MKTBXDelisted Fund

USD 9.29 0.00 0.00%

The current 90-days correlation between Mainstay Tax Free and Eip Growth And is -0.14 (i.e., Good diversification). The correlation of Mainstay Tax 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 Tax Correlation With Market

Very good diversification

The correlation between Mainstay Tax Free and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Tax Free 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 bureau of labor statistics.

Moving against Mainstay Mutual Fund

0.4	INPIX	Internet Ultrasector	Pair Corr
0.39	INPSX	Internet Ultrasector	Pair Corr
0.37	VWAHX	Vanguard High Yield	Pair Corr
0.37	VWALX	Vanguard High Yield	Pair Corr
0.33	VWLTX	Vanguard Long Term	Pair Corr
0.33	FSMUX	Strategic Advisers	Pair Corr
0.33	VWLUX	Vanguard Long Term	Pair Corr
0.32	FAFTX	Franklin Federal Tax	Pair Corr
0.31	FFTQX	Franklin Federal Tax	Pair Corr
0.78	HWACX	Hotchkis Wiley Value	Pair Corr
0.73	DBIWX	Dws Global Macro	Pair Corr
0.68	PGLSX	Global Multi Strategy	Pair Corr
0.57	HTD	John Hancock Tax	Pair Corr
0.54	EBSIX	Campbell Systematic Macro	Pair Corr
0.52	SGDLX	Sprott Gold Equity	Pair Corr
0.48	ARBOX	Absolute Convertible	Pair Corr
0.46	DLDFX	Destinations Low Duration	Pair Corr
0.45	VICSX	Vanguard Intermediate-ter	Pair Corr
0.44	ABNOX	Ab Bond Inflation	Pair Corr
0.44	GIOIX	Guggenheim Macro Opp	Pair Corr
0.44	BISMX	Brandes International	Pair Corr
0.43	UTF	Cohen And Steers	Pair Corr
0.42	HRBDX	Harbor Bond Fund	Pair Corr
0.35	USGDX	Morgan Stanley Government	Pair Corr
0.32	TIMUX	Transamerica Intermediate	Pair Corr

Related Correlations Analysis

	EIPFX	SRGAX	FGTZX	TAAEX	VDIGX	PAGLX	PIGDX
EIPFX		0.55	0.54	0.27	0.35	0.4	0.61	EIPFX
SRGAX	0.55		0.99	0.85	0.73	0.91	0.47	SRGAX
FGTZX	0.54	0.99		0.86	0.75	0.93	0.42	FGTZX
TAAEX	0.27	0.85	0.86		0.46	0.95	0.05	TAAEX
VDIGX	0.35	0.73	0.75	0.46		0.56	0.45	VDIGX
PAGLX	0.4	0.91	0.93	0.95	0.56		0.14	PAGLX
PIGDX	0.61	0.47	0.42	0.05	0.45	0.14		PIGDX
	EIPFX	SRGAX	FGTZX	TAAEX	VDIGX	PAGLX	PIGDX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Tax 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 Tax'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
EIPFX	0.83	0.01	0.00	(0.04)	0.00	0.00	1.69	(1.72)	7.28
SRGAX	0.64	0.00	0.00	(0.07)	0.00	0.00	1.25	(1.51)	3.64
FGTZX	0.61	(0.01)	0.00	(0.08)	0.00	0.00	1.01	(1.25)	3.38
TAAEX	1.68	(0.10)	0.00	(0.14)	0.00	0.00	3.09	(3.20)	9.89
VDIGX	0.60	(0.01)	0.00	(0.09)	0.00	0.00	0.95	(1.44)	3.57
PAGLX	0.75	(0.03)	0.00	(0.10)	0.00	0.00	1.11	(1.62)	4.65
PIGDX	0.82	0.09	0.09	0.07	1.12	(0.85)	1.84	(1.68)	7.09

Mainstay Tax 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 Tax mutual fund to make a market-neutral strategy. Peer analysis of Mainstay Tax could also be used in its relative valuation, which is a method of valuing Mainstay Tax by comparing valuation metrics with similar companies.

Eip Growth And Stringer Growth Fund Ftfa Franklin Templeton Growth Transamerica Capital Growth Vanguard Dividend Growth T Rowe Price Pnc International Growth American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

Risk & Return

Correlation

Still Interested in Mainstay Tax Free?

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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