Mainstay Income Correlations

Summary

MKTRXDelisted Fund

USD 21.24 0.00 0.00%

The current 90-days correlation between Mainstay Income Builder and T Rowe Price is -0.18 (i.e., Good diversification). The correlation of Mainstay Income 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 Income Correlation With Market

Good diversification

The correlation between Mainstay Income Builder and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Income Builder 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 metropolitan statistical area.

Moving against Mainstay Mutual Fund

0.5	HTD	John Hancock Tax	Pair Corr
0.47	RIREX	Capital Income Builder	Pair Corr
0.47	RIRFX	Capital Income Builder	Pair Corr
0.47	CIRCX	Capital Income Builder	Pair Corr
0.47	CAIFX	Capital Income Builder	Pair Corr
0.44	RIRCX	Capital Income Builder	Pair Corr
0.43	RIRAX	Capital Income Builder	Pair Corr
0.43	CIREX	Capital Income Builder	Pair Corr
0.43	RIRBX	Capital Income Builder	Pair Corr
0.43	CIRFX	Capital Income Builder	Pair Corr
0.43	CIRAX	Capital Income Builder	Pair Corr
0.39	VFIAX	Vanguard 500 Index	Pair Corr
0.39	VFINX	Vanguard 500 Index	Pair Corr
0.39	VFFSX	Vanguard 500 Index	Pair Corr
0.38	VTSAX	Vanguard Total Stock	Pair Corr
0.38	VTSMX	Vanguard Total Stock	Pair Corr
0.38	VSMPX	Vanguard Total Stock	Pair Corr
0.38	VSTSX	Vanguard Total Stock	Pair Corr
0.38	VITSX	Vanguard Total Stock	Pair Corr
0.36	VGTSX	Vanguard Total Inter	Pair Corr
0.36	VTIAX	Vanguard Total Inter	Pair Corr
0.77	WMT	Walmart	Pair Corr
0.76	IBM	International Business	Pair Corr
0.73	PGLSX	Global Multi Strategy	Pair Corr
0.65	CSCO	Cisco Systems	Pair Corr
0.65	GE	GE Aerospace	Pair Corr
0.5	MMM	3M Company	Pair Corr
0.35	MCD	McDonalds	Pair Corr
0.35	BA	Boeing	Pair Corr
0.35	HD	Home Depot	Pair Corr
0.35	BAC	Bank of America Aggressive Push	Pair Corr
0.32	UTF	Cohen And Steers	Pair Corr
0.32	JNJ	Johnson Johnson	Pair Corr
0.31	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	PAGLX	EIPIX	GETFX	ARTSX	UPDDX	SRGAX	EIPFX
PAGLX		0.34	0.92	0.84	0.86	0.9	0.34	PAGLX
EIPIX	0.34		0.55	0.02	0.22	0.52	1.0	EIPIX
GETFX	0.92	0.55		0.64	0.78	0.99	0.55	GETFX
ARTSX	0.84	0.02	0.64		0.86	0.61	0.03	ARTSX
UPDDX	0.86	0.22	0.78	0.86		0.79	0.23	UPDDX
SRGAX	0.9	0.52	0.99	0.61	0.79		0.52	SRGAX
EIPFX	0.34	1.0	0.55	0.03	0.23	0.52		EIPFX
	PAGLX	EIPIX	GETFX	ARTSX	UPDDX	SRGAX	EIPFX

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Income 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 Income'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
PAGLX	0.76	(0.05)	0.00	(0.06)	0.00	0.00	1.27	(1.62)	4.65
EIPIX	0.83	0.01	0.01	0.03	1.68	(0.74)	1.68	(1.72)	7.26
GETFX	0.59	(0.03)	0.00	(0.03)	0.00	0.00	1.04	(1.20)	3.31
ARTSX	1.18	(0.13)	0.00	0.89	0.00	0.00	2.24	(3.17)	5.69
UPDDX	2.03	(0.07)	0.00	0.17	0.00	0.00	3.22	(5.01)	15.30
SRGAX	0.65	(0.03)	0.00	(0.03)	0.00	0.00	1.25	(1.51)	3.64
EIPFX	0.82	0.01	0.01	0.03	1.68	(0.74)	1.69	(1.72)	7.28

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

T Rowe Price Eip Growth And Morningstar Growth Etf Artisan Small Cap Upright Growth Income Stringer Growth Fund Eip Growth And American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

Risk & Return

Correlation

Still Interested in Mainstay Income Builder?

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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