Mainstay New Correlations

MNOVX Fund

USD 9.73 0.05 0.51%

The current 90-days correlation between Mainstay New York and Gamco Global Gold is -0.16 (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

Very good diversification

The correlation between Mainstay New York and DJI is -0.24 (i.e., Very good 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 real.

Moving together with Mainstay Mutual Fund

0.98	MKINX	Mainstay Tax Free	Pair Corr
0.99	MMHEX	Mainstay Mackay High	Pair Corr
0.88	MMHVX	Mainstay High Yield	Pair Corr
0.9	MSCVX	Mainstay California Tax	Pair Corr
0.99	MSODX	Mainstay Mackay Cali	Pair Corr
0.98	MTBDX	Mainstay Mackay Tax	Pair Corr
0.97	MTFEX	Mainstay Mackay Strategic	Pair Corr
0.96	MTFDX	Mainstay Mackay Strategic	Pair Corr
0.97	MTFHX	Mainstay Mackay Strategic	Pair Corr
0.96	MTFFX	Mainstay Mackay Strategic	Pair Corr
0.67	MCKNX	Mainstay Servative	Pair Corr

Moving against Mainstay Mutual Fund

0.37	MLGRX	Mainstay Large Cap	Pair Corr
0.36	MLINX	Mainstay Large Cap	Pair Corr
0.33	MLRRX	Mainstay Large Cap	Pair Corr

Related Correlations Analysis

	XGGNX	IOGYX	FGDIX	SGDLX	GCEBX	EPGFX	FRGOX
XGGNX		0.84	0.79	0.85	0.5	0.78	0.84	XGGNX
IOGYX	0.84		0.96	0.91	0.37	0.87	0.98	IOGYX
FGDIX	0.79	0.96		0.87	0.5	0.9	0.97	FGDIX
SGDLX	0.85	0.91	0.87		0.3	0.79	0.92	SGDLX
GCEBX	0.5	0.37	0.5	0.3		0.47	0.44	GCEBX
EPGFX	0.78	0.87	0.9	0.79	0.47		0.92	EPGFX
FRGOX	0.84	0.98	0.97	0.92	0.44	0.92		FRGOX
	XGGNX	IOGYX	FGDIX	SGDLX	GCEBX	EPGFX	FRGOX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
XGGNX	0.56	0.03	(0.07)	0.25	0.60	(0.70)	1.21	(1.19)	3.86
IOGYX	1.43	0.10	0.01	0.79	1.58	(1.60)	2.72	(2.62)	8.64
FGDIX	1.34	0.05	(0.03)	(0.34)	1.68	(1.48)	2.67	(2.76)	9.78
SGDLX	1.33	0.14	0.03	0.79	1.47	(1.45)	2.78	(2.56)	9.03
GCEBX	0.74	(0.21)	0.00	(0.95)	0.00	0.00	1.36	(1.75)	8.30
EPGFX	1.62	(0.09)	0.00	(0.34)	0.00	0.00	3.28	(3.15)	14.04
FRGOX	1.45	0.07	(0.01)	0.52	1.71	(1.55)	3.13	(2.61)	9.03

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC