Mainstay Epoch Correlations

MOPCX Fund

USD 17.94 0.14 0.77%

The current 90-days correlation between Mainstay Epoch Small and Putnam Global Health is -0.28 (i.e., Very good 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

Good diversification

The correlation between Mainstay Epoch Small and DJI is -0.09 (i.e., Good 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 main economic indicators.

Moving together with Mainstay Mutual Fund

0.97	VSMAX	Vanguard Small Cap	Pair Corr
0.77	VSCIX	Vanguard Small Cap	Pair Corr
0.97	VSCPX	Vanguard Small Cap	Pair Corr
0.97	NAESX	Vanguard Small Cap	Pair Corr
0.97	FSSNX	Fidelity Small Cap	Pair Corr
0.97	DFSTX	Us Small Cap	Pair Corr
0.72	PASVX	T Rowe Price	Pair Corr
0.98	PRVIX	T Rowe Price	Pair Corr
0.98	TRZVX	T Rowe Price	Pair Corr
0.72	PRSVX	T Rowe Price	Pair Corr
0.66	SMPSX	Semiconductor Ultrasector	Pair Corr
0.85	AXP	American Express	Pair Corr
0.76	JPM	JPMorgan Chase	Pair Corr
0.81	BAC	Bank of America	Pair Corr

Moving against Mainstay Mutual Fund

0.6	VZ	Verizon Communications	Pair Corr
0.59	TRV	The Travelers Companies	Pair Corr
0.43	MCD	McDonalds	Pair Corr
0.43	JNJ	Johnson Johnson	Pair Corr
0.34	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	PGHAX	SWHFX	SHSAX	GTHCX	HIAHX	LYFAX
PGHAX		0.9	0.8	0.71	0.59	0.86	PGHAX
SWHFX	0.9		0.76	0.72	0.55	0.83	SWHFX
SHSAX	0.8	0.76		0.85	0.88	0.97	SHSAX
GTHCX	0.71	0.72	0.85		0.87	0.81	GTHCX
HIAHX	0.59	0.55	0.88	0.87		0.85	HIAHX
LYFAX	0.86	0.83	0.97	0.81	0.85		LYFAX
	PGHAX	SWHFX	SHSAX	GTHCX	HIAHX	LYFAX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PGHAX	0.65	0.02	0.00	(0.03)	0.00	0.00	1.33	(1.10)	4.12
SWHFX	0.72	0.00	0.00	(0.07)	0.00	0.00	1.29	(1.22)	7.88
SHSAX	0.63	0.06	0.12	0.04	0.71	(0.70)	1.33	(0.95)	3.73
GTHCX	0.82	(0.08)	0.00	(0.18)	0.00	0.00	1.26	(1.69)	9.65
HIAHX	0.68	0.03	0.00	(0.03)	0.00	0.00	1.39	(1.22)	4.43
LYFAX	0.61	0.05	0.11	0.03	0.71	(0.63)	1.22	(1.18)	3.27

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