Mainstay Growth Correlations

MOERX Fund

USD 14.42 0.01 0.07%

The current 90-days correlation between Mainstay Growth Etf and Allianzgi Diversified Income is 0.2 (i.e., Modest diversification). The correlation of Mainstay Growth 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 Growth Correlation With Market

Very weak diversification

The correlation between Mainstay Growth Etf and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Growth Etf 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 Growth Etf. 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 together with Mainstay Mutual Fund

0.86	FFIFX	American Funds	Pair Corr
0.83	FAIFX	American Funds	Pair Corr
0.82	IFACX	Income Fund	Pair Corr
0.83	IFAFX	Income Fund	Pair Corr
0.83	AMECX	Income Fund	Pair Corr
0.82	RIDBX	Income Fund	Pair Corr
0.83	CIMEX	Income Fund	Pair Corr
0.83	RIDFX	Income Fund	Pair Corr
0.82	CIMCX	Income Fund	Pair Corr
0.83	CIMFX	Income Fund	Pair Corr
0.88	WHIYX	Ivy High Income	Pair Corr
0.88	IVHIX	Ivy High Income	Pair Corr
0.88	IHIFX	Ivy High Income	Pair Corr
0.9	WRHIX	Ivy High Income	Pair Corr
0.87	WHIAX	Ivy High Income	Pair Corr
0.71	CSJZX	Cohen Steers Realty	Pair Corr
0.72	CSRSX	Cohen Steers Realty	Pair Corr
0.64	LTMIX	Thornburg Limited Term	Pair Corr
0.91	GSWPX	Goldman Sachs Smallmid	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr
0.68	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.72	TRV	The Travelers Companies	Pair Corr
0.81	HD	Home Depot	Pair Corr

Moving against Mainstay Mutual Fund

0.35	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.32	SSAGX	Virtus Seix Government	Pair Corr

Related Correlations Analysis

	XACVX	TFCAX	LUNAX	IAXSX	PRDMX	ICVRX
XACVX		0.45	0.75	0.88	0.74	0.75	XACVX
TFCAX	0.45		0.04	0.64	0.03	0.05	TFCAX
LUNAX	0.75	0.04		0.7	0.94	0.94	LUNAX
IAXSX	0.88	0.64	0.7		0.71	0.64	IAXSX
PRDMX	0.74	0.03	0.94	0.71		0.82	PRDMX
ICVRX	0.75	0.05	0.94	0.64	0.82		ICVRX
	XACVX	TFCAX	LUNAX	IAXSX	PRDMX	ICVRX

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Growth 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 Growth'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
XACVX	0.70	0.07	0.04	0.80	0.96	(0.73)	1.43	(1.36)	5.43
TFCAX	0.02	0.00	0.00	(0.12)	0.00	0.00	0.10	0.00	0.40
LUNAX	0.37	(0.01)	(0.05)	(0.01)	0.51	(0.39)	0.71	(0.63)	2.40
IAXSX	0.89	0.14	0.10	0.26	1.10	(0.98)	1.74	(1.52)	7.61
PRDMX	1.01	0.02	0.01	0.06	1.74	(0.95)	1.79	(1.71)	10.62
ICVRX	0.31	(0.02)	0.00	(0.06)	0.00	0.00	0.66	(0.64)	2.21

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