Mainstay Growth Correlations

MOEVX Fund

USD 14.01 0.01 0.07%

The current 90-days correlation between Mainstay Growth Etf and Pimco Energy Tactical is 0.31 (i.e., Weak 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

Modest diversification

The correlation between Mainstay Growth Etf and DJI is 0.27 (i.e., Modest 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 real.

Moving together with Mainstay Mutual Fund

0.77	RMQAX	Monthly Rebalance	Pair Corr
0.78	RMQHX	Monthly Rebalance	Pair Corr
0.75	RMQCX	Monthly Rebalance	Pair Corr
0.66	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.66	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.73	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.64	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Moving against Mainstay Mutual Fund

0.45	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.41	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.37	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	PDX	BACCX	ENPSX	ALTEX
PDX		-0.19	0.0	-0.34	PDX
BACCX	-0.19		0.97	0.39	BACCX
ENPSX	0.0	0.97		0.28	ENPSX
ALTEX	-0.34	0.39	0.28		ALTEX
	PDX	BACCX	ENPSX	ALTEX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ENPSX	+ 0.97	BACCX
ALTEX	+ 0.39	BACCX
ALTEX	+ 0.28	ENPSX
ENPSX	+ 0.0	PDX

High negative correlations

ALTEX	- 0.34	PDX
BACCX	- 0.19	PDX
ENPSX	- 0.0	PDX

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
PDX	0.95	0.18	0.19	0.65	0.72	(1.31)	2.50	(1.47)	5.96
BACCX	0.74	(0.14)	0.00	(0.73)	0.00	0.00	1.30	(1.89)	3.86
ENPSX	1.15	(0.25)	0.00	(0.86)	0.00	0.00	1.94	(3.55)	9.91
ALTEX	1.24	(0.18)	0.00	(1.54)	0.00	0.00	1.94	(2.18)	7.20

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