Mainstay Epoch Correlations

MOTBX Fund

USD 19.52 0.18 0.93%

The current 90-days correlation between Mainstay Epoch Small and Mainstay High Yield is 0.56 (i.e., Very weak 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 0.86 (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 bureau of labor statistics.

Moving together with Mainstay Mutual Fund

0.9	MLAIX	Mainstay Large Cap	Pair Corr
0.8	MMRAX	Mainstay Moderate	Pair Corr
0.76	MMRCX	Mainstay Moderate	Pair Corr
0.76	MMRBX	Mainstay Moderate	Pair Corr
0.8	MMRIX	Mainstay Moderate	Pair Corr
0.79	MMRSX	Mainstay Moderate	Pair Corr
0.66	MNERX	Mainstay Conservative Etf	Pair Corr
0.63	MNEVX	Mainstay Conservative Etf	Pair Corr
0.94	APSLX	Mainstay Fiera Smid	Pair Corr
0.68	MNEAX	Mainstay Conservative Etf	Pair Corr
0.93	APSDX	Mainstay Fiera Smid	Pair Corr
0.69	MNELX	Mainstay Conservative Etf	Pair Corr
0.64	MNEKX	Mainstay Conservative Etf	Pair Corr
0.89	MOEAX	Mainstay Growth Etf	Pair Corr

Moving against Mainstay Mutual Fund

0.62	FCICX	Mainstay Pinestone	Pair Corr
0.4	MSDIX	Mainstay Unconstrained	Pair Corr
0.38	EPSKX	Mainstay Epoch Global	Pair Corr
0.37	EPSPX	Mainstay Epoch Global	Pair Corr
0.36	EPSYX	Mainstay Epoch Global	Pair Corr
0.34	CLARX	Voya Real Estate	Pair Corr
0.33	FCGYX	Mainstay Pinestone Global	Pair Corr

Related Correlations Analysis

	MKHCX	MKTBX	MKTRX	MLACX	MLABX	MLAAX	MLAIX	MLRMX	MMHAX	MMHDX
MKHCX		0.66	0.6	0.07	0.07	0.18	0.4	0.17	0.67	0.65	MKHCX
MKTBX	0.66		0.66	-0.02	-0.02	-0.03	-0.01	-0.03	0.99	0.99	MKTBX
MKTRX	0.6	0.66		0.38	0.38	0.37	-0.18	0.37	0.68	0.7	MKTRX
MLACX	0.07	-0.02	0.38		1.0	0.97	-0.45	0.98	0.05	0.07	MLACX
MLABX	0.07	-0.02	0.38	1.0		0.97	-0.45	0.98	0.05	0.07	MLABX
MLAAX	0.18	-0.03	0.37	0.97	0.97		-0.23	1.0	0.04	0.05	MLAAX
MLAIX	0.4	-0.01	-0.18	-0.45	-0.45	-0.23		-0.26	-0.03	-0.08	MLAIX
MLRMX	0.17	-0.03	0.37	0.98	0.98	1.0	-0.26		0.05	0.05	MLRMX
MMHAX	0.67	0.99	0.68	0.05	0.05	0.04	-0.03	0.05		1.0	MMHAX
MMHDX	0.65	0.99	0.7	0.07	0.07	0.05	-0.08	0.05	1.0		MMHDX
	MKHCX	MKTBX	MKTRX	MLACX	MLABX	MLAAX	MLAIX	MLRMX	MMHAX	MMHDX

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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

MLABX	+ 1.0	MLACX
MLRMX	+ 1.0	MLAAX
MMHDX	+ 1.0	MMHAX
MMHAX	+ 0.99	MKTBX
MMHDX	+ 0.99	MKTBX
MLRMX	+ 0.98	MLACX

High negative correlations

MLAIX	- 0.45	MLABX
MLAIX	- 0.45	MLACX
MLRMX	- 0.26	MLAIX
MLAIX	- 0.23	MLAAX
MLAIX	- 0.18	MKTRX
MMHDX	- 0.08	MLAIX

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
MKHCX	0.13	(0.03)	0.00	(0.21)	0.00	0.00	0.19	(0.38)	0.96
MKTBX	0.19	(0.04)	0.00	1.82	0.00	0.00	0.32	(0.53)	1.50
MKTRX	0.37	(0.08)	0.00	(0.12)	0.00	0.00	0.77	(0.90)	3.39
MLACX	1.39	(0.43)	0.00	(0.30)	0.00	0.00	1.53	(2.32)	35.65
MLABX	1.41	(0.42)	0.00	(0.29)	0.00	0.00	1.52	(2.31)	35.75
MLAAX	1.08	(0.20)	0.00	(0.15)	0.00	0.00	1.51	(2.29)	21.05
MLAIX	0.74	0.08	0.05	0.11	1.12	(0.73)	1.48	(1.42)	6.38
MLRMX	1.11	(0.21)	0.00	(0.16)	0.00	0.00	1.51	(2.25)	22.17
MMHAX	0.23	(0.04)	0.00	0.67	0.00	0.00	0.42	(0.58)	2.02
MMHDX	0.23	(0.04)	0.00	0.70	0.00	0.00	0.42	(0.58)	2.02

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