Mainstay Total Correlations

MTMIX Fund

USD 9.02 0.01 0.11%

The current 90-days correlation between Mainstay Total Return and Scharf Global Opportunity is 0.12 (i.e., Average diversification). The correlation of Mainstay Total 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 Total Correlation With Market

Significant diversification

The correlation between Mainstay Total Return and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Total Return 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 Total Return. 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 gross domestic product.

Moving together with Mainstay Mutual Fund

0.79	MKTBX	Mainstay Tax Free	Pair Corr
0.79	MKTRX	Mainstay Income Builder	Pair Corr
0.77	MMHAX	Mainstay High Yield	Pair Corr
0.8	MMHDX	Mainstay High Yield	Pair Corr
0.69	MMHIX	Mainstay High Yield	Pair Corr
0.7	MNOCX	Mainstay New York	Pair Corr
0.68	MNOAX	Mainstay New York	Pair Corr
0.68	MNOIX	Mainstay New York	Pair Corr
0.7	MNOLX	Mainstay Mackay New	Pair Corr
0.62	FCGYX	Mainstay Pinestone Global	Pair Corr
0.83	FCICX	Mainstay Pinestone	Pair Corr

Moving against Mainstay Mutual Fund

0.5	MLAIX	Mainstay Large Cap	Pair Corr
0.32	MOPCX	Mainstay Epoch Small	Pair Corr
0.32	MOPAX	Mainstay Epoch Small	Pair Corr
0.32	MOTBX	Mainstay Epoch Small	Pair Corr
0.31	MOPIX	Mainstay Epoch Small	Pair Corr

Related Correlations Analysis

	WRLDX	FIJFX	ADOIX	VOLMX	CPUCX	XMHFX	VOLJX	MFTFX
WRLDX		0.84	0.01	0.5	0.49	0.51	0.24	-0.08	WRLDX
FIJFX	0.84		-0.32	0.16	0.63	0.59	-0.05	-0.26	FIJFX
ADOIX	0.01	-0.32		0.79	-0.5	-0.42	0.78	0.33	ADOIX
VOLMX	0.5	0.16	0.79		-0.3	-0.25	0.71	0.05	VOLMX
CPUCX	0.49	0.63	-0.5	-0.3		0.88	-0.1	0.2	CPUCX
XMHFX	0.51	0.59	-0.42	-0.25	0.88		-0.05	0.18	XMHFX
VOLJX	0.24	-0.05	0.78	0.71	-0.1	-0.05		0.59	VOLJX
MFTFX	-0.08	-0.26	0.33	0.05	0.2	0.18	0.59		MFTFX
	WRLDX	FIJFX	ADOIX	VOLMX	CPUCX	XMHFX	VOLJX	MFTFX

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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

XMHFX	+ 0.88	CPUCX
FIJFX	+ 0.84	WRLDX
VOLMX	+ 0.79	ADOIX
VOLJX	+ 0.78	ADOIX
VOLJX	+ 0.71	VOLMX
CPUCX	+ 0.63	FIJFX

High negative correlations

CPUCX	- 0.5	ADOIX
XMHFX	- 0.42	ADOIX
ADOIX	- 0.32	FIJFX
CPUCX	- 0.3	VOLMX
MFTFX	- 0.26	FIJFX
XMHFX	- 0.25	VOLMX

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Total 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 Total'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
WRLDX	0.52	(0.08)	0.00	(0.26)	0.00	0.00	0.91	(1.04)	5.22
FIJFX	0.71	(0.13)	0.00	(0.30)	0.00	0.00	1.47	(1.33)	5.49
ADOIX	0.41	0.05	0.01	0.89	0.54	(0.42)	0.93	(0.79)	2.96
VOLMX	0.58	0.03	(0.01)	0.20	0.72	(0.66)	0.99	(1.02)	6.01
CPUCX	0.27	(0.08)	0.00	(2.50)	0.00	0.00	0.44	(0.65)	1.86
XMHFX	0.20	(0.06)	0.00	(3.91)	0.00	0.00	0.42	(0.55)	1.67
VOLJX	0.76	0.03	0.00	0.23	1.21	(0.73)	1.44	(2.02)	6.06
MFTFX	1.00	(0.02)	0.00	2.98	0.00	0.00	1.70	(1.98)	5.42

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