Mainstay Epoch Correlations

Mutual Funds . USA . 
Fund . Mainstay Epoch Small
MOINX Fund  USD 26.35  0.10  0.38%   
The current 90-days correlation between Mainstay Epoch Small and Lord Abbett Convertible is 0.75 (i.e., Poor diversification). The correlation of Mainstay Epoch 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 Epoch Correlation With Market

Very poor diversification

The correlation between Mainstay Epoch Small and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Epoch Small 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 Epoch Small. 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 board of governors.

Moving together with Mainstay Mutual Fund

  0.84MLGRX Mainstay Large CapPairCorr
  0.84MLINX Mainstay Large CapPairCorr
  0.84MLRTX Mainstay Large CapPairCorr
  0.84MLRSX Mainstay Large CapPairCorr
  0.84MLRRX Mainstay Large CapPairCorr
  0.78MMRDX Mainstay ModeratePairCorr
  0.81EPLIX Mainstay Epoch EquityPairCorr
  0.82EPLDX Mainstay Epoch EquityPairCorr
  0.93MSMIX Mainstay Map EquityPairCorr
  0.9MBERX Mainstay BalancedPairCorr
  0.9MBINX Mainstay BalancedPairCorr
  0.77KLGNX Mainstay Nerstone GrowthPairCorr
  0.82MCINX Mainstay ConvertiblePairCorr
  0.62MCKNX Mainstay ConservativePairCorr
  0.88MCSSX Mainstay Mon StockPairCorr

Moving against Mainstay Mutual Fund

  0.78ICELX Mainstay Epoch InterPairCorr
  0.59MSYDX Mainstay UnconstrainedPairCorr
  0.58MTMNX Mainstay Total ReturnPairCorr
  0.56MSYEX Mainstay Mackay UncoPairCorr
  0.62MGVNX Mainstay GovernmentPairCorr
  0.56MTRDX Mainstay Total ReturnPairCorr

Related Correlations Analysis

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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   
VAADX
+ 0.98
LCFYX
FSAWX
+ 0.95
LCFYX
FSAWX
+ 0.94
VAADX
AVK
+ 0.68
LCFYX
AVK
+ 0.67
VAADX
AVK
+ 0.64
GCV
  
High negative correlations   
GCV
- 0.61
CCD
AVK
- 0.19
CCD

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Epoch 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 Epoch'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.

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