Mainstay New Correlations

MNOIX Fund

USD 9.57 0.00 0.00%

The current 90-days correlation between Mainstay New York and Avantis Large Cap is -0.14 (i.e., Good diversification). The correlation of Mainstay New 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 New Correlation With Market

Significant diversification

The correlation between Mainstay New York and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay New York 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 New York. 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

0.76	MKHCX	Mainstay High Yield	Pair Corr
0.98	MKTBX	Mainstay Tax Free	Pair Corr
0.64	MKTRX	Mainstay Income Builder	Pair Corr
0.89	MMHAX	Mainstay High Yield	Pair Corr
0.97	MMHDX	Mainstay High Yield	Pair Corr
0.99	MMHIX	Mainstay High Yield	Pair Corr
0.63	MMRAX	Mainstay Moderate	Pair Corr
0.65	MMRCX	Mainstay Moderate	Pair Corr
0.65	MMRBX	Mainstay Moderate	Pair Corr
0.63	MMRIX	Mainstay Moderate	Pair Corr
0.69	MMRSX	Mainstay Moderate	Pair Corr
0.69	MNERX	Mainstay Conservative Etf	Pair Corr
0.69	MNEVX	Mainstay Conservative Etf	Pair Corr
0.75	MNEAX	Mainstay Conservative Etf	Pair Corr
0.68	MNELX	Mainstay Conservative Etf	Pair Corr
0.7	MNEKX	Mainstay Conservative Etf	Pair Corr
1.0	MNOCX	Mainstay New York	Pair Corr
1.0	MNOAX	Mainstay New York	Pair Corr
1.0	MNOLX	Mainstay Mackay New	Pair Corr

Related Correlations Analysis

	ALCEX	LMUSX	AMFFX	TFCCX	DALVX	LAAFX	LMISX
ALCEX		0.89	0.55	0.9	0.94	0.62	0.89	ALCEX
LMUSX	0.89		0.34	0.71	0.76	0.33	0.95	LMUSX
AMFFX	0.55	0.34		0.63	0.74	0.74	0.36	AMFFX
TFCCX	0.9	0.71	0.63		0.92	0.79	0.78	TFCCX
DALVX	0.94	0.76	0.74	0.92		0.78	0.76	DALVX
LAAFX	0.62	0.33	0.74	0.79	0.78		0.38	LAAFX
LMISX	0.89	0.95	0.36	0.78	0.76	0.38		LMISX
	ALCEX	LMUSX	AMFFX	TFCCX	DALVX	LAAFX	LMISX

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay New 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 New'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
ALCEX	0.59	0.01	(0.03)	0.14	0.72	(0.75)	1.26	(0.87)	7.05
LMUSX	0.64	0.06	0.02	1.15	1.07	(0.66)	1.10	(1.49)	6.37
AMFFX	0.51	(0.09)	0.00	(2.87)	0.00	0.00	0.83	(0.86)	6.99
TFCCX	0.52	(0.01)	(0.06)	(0.05)	0.73	(0.58)	0.90	(0.69)	5.58
DALVX	0.49	(0.01)	(0.07)	(0.09)	0.62	(0.54)	1.08	(0.69)	5.18
LAAFX	0.54	(0.04)	0.00	(1.51)	0.00	0.00	1.08	(0.76)	7.00
LMISX	0.65	0.04	0.01	0.15	1.11	(0.66)	1.08	(1.49)	6.65

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Mainstay New Correlations

Mainstay New Correlation With Market

Significant diversification

Moving together with Mainstay Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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