Mainstay Mon Correlations

Summary

MOPBXDelisted Fund

USD 34.97 0.00 0.00%

The current 90-days correlation between Mainstay Mon Stock and Fundvantage Trust is -0.37 (i.e., Very good diversification). The correlation of Mainstay Mon 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 Mon Correlation With Market

Average diversification

The correlation between Mainstay Mon Stock and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Mon Stock and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. 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 bureau of labor statistics.

Moving against Mainstay Mutual Fund

0.47	CISGX	Touchstone Sands Capital	Pair Corr
0.47	PMPIX	Precious Metals Ultr	Pair Corr
0.39	VITSX	Vanguard Total Stock	Pair Corr
0.39	VSMPX	Vanguard Total Stock	Pair Corr
0.38	VTSAX	Vanguard Total Stock	Pair Corr
0.38	VTSMX	Vanguard Total Stock	Pair Corr
0.38	VSTSX	Vanguard Total Stock	Pair Corr
0.38	VFINX	Vanguard 500 Index	Pair Corr
0.38	VFFSX	Vanguard 500 Index	Pair Corr
0.37	VFIAX	Vanguard 500 Index	Pair Corr
0.31	VINIX	Vanguard Institutional	Pair Corr
0.31	VIIIX	Vanguard Institutional	Pair Corr
0.75	JPM	JPMorgan Chase	Pair Corr
0.72	MMM	3M Company	Pair Corr
0.71	GE	GE Aerospace	Pair Corr
0.62	WMT	Walmart Aggressive Push	Pair Corr
0.49	HD	Home Depot	Pair Corr
0.48	IBM	International Business	Pair Corr
0.47	CSCO	Cisco Systems	Pair Corr
0.44	AXP	American Express Sell-off Trend	Pair Corr
0.41	CVX	Chevron Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	PBBIX	CWFIX	NWJVX	ARTFX	GSHAX	GHVIX
PBBIX		0.89	0.79	0.97	0.93	0.96	PBBIX
CWFIX	0.89		0.94	0.93	0.88	0.96	CWFIX
NWJVX	0.79	0.94		0.84	0.8	0.85	NWJVX
ARTFX	0.97	0.93	0.84		0.93	0.96	ARTFX
GSHAX	0.93	0.88	0.8	0.93		0.94	GSHAX
GHVIX	0.96	0.96	0.85	0.96	0.94		GHVIX
	PBBIX	CWFIX	NWJVX	ARTFX	GSHAX	GHVIX

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Mon 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 Mon'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
PBBIX	0.17	(0.02)	0.00	0.30	0.00	0.00	0.50	(0.29)	1.19
CWFIX	0.08	0.01	0.62	(0.89)	0.00	(0.12)	0.11	(0.11)	0.53
NWJVX	0.08	0.01	0.68	0.92	0.00	(0.14)	0.20	(0.10)	0.61
ARTFX	0.13	(0.01)	0.35	0.12	0.12	(0.20)	0.44	(0.22)	0.89
GSHAX	0.15	0.00	0.23	(0.07)	0.17	(0.26)	0.53	(0.36)	1.08
GHVIX	0.16	(0.01)	0.30	0.07	0.18	(0.17)	0.24	(0.35)	1.01

Mainstay Mon Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Mainstay Mon mutual fund to make a market-neutral strategy. Peer analysis of Mainstay Mon could also be used in its relative valuation, which is a method of valuing Mainstay Mon by comparing valuation metrics with similar companies.

Fundvantage Trust Chartwell Short Duration Nationwide Highmark Short Artisan High Income Goldman Sachs High Gmo High Yield American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot

Risk & Return

Correlation

Still Interested in Mainstay Mon Stock?

Investing in delisted funds can be risky, as the mutual fund is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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