Mainstay Income Correlations

MTODX Fund

USD 21.02 0.09 0.43%

The current 90-days correlation between Mainstay Income Builder and Davis Financial Fund is 0.65 (i.e., Poor diversification). The correlation of Mainstay Income 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 Income Correlation With Market

Poor diversification

The correlation between Mainstay Income Builder and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Income Builder 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 Income Builder. 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 unemployment.

Moving together with Mainstay Mutual Fund

0.69	MKINX	Mainstay Tax Free	Pair Corr
0.73	MMHEX	Mainstay Mackay High	Pair Corr
0.64	MMHVX	Mainstay High Yield	Pair Corr
0.65	MNODX	Mainstay Mackay New	Pair Corr
0.61	MNOVX	Mainstay New York	Pair Corr
0.76	EPLIX	Mainstay Epoch Equity	Pair Corr
0.77	EPLDX	Mainstay Epoch Equity	Pair Corr
0.99	EPSRX	Mainstay Epoch Global	Pair Corr
0.91	EPSIX	Mainstay Epoch Global	Pair Corr
0.73	VCRVX	Mainstay Cbre Global	Pair Corr
0.78	VCRQX	Mainstay Cbre Global	Pair Corr
0.64	MBERX	Mainstay Balanced	Pair Corr
0.78	MSYEX	Mainstay Mackay Unco	Pair Corr
0.79	MSYDX	Mainstay Unconstrained	Pair Corr
0.63	MBINX	Mainstay Balanced	Pair Corr
0.77	ICELX	Mainstay Epoch Inter	Pair Corr
0.77	MTFEX	Mainstay Mackay Strategic	Pair Corr
0.78	MTFDX	Mainstay Mackay Strategic	Pair Corr
0.66	MTFHX	Mainstay Mackay Strategic	Pair Corr
0.74	MTFFX	Mainstay Mackay Strategic	Pair Corr
0.91	MTINX	Mainstay Income Builder	Pair Corr
0.77	MTMNX	Mainstay Total Return	Pair Corr
0.77	MTRDX	Mainstay Total Return	Pair Corr
0.86	MCSSX	Mainstay Mon Stock	Pair Corr
0.73	MCYAX	Mainstay Candriam	Pair Corr

Related Correlations Analysis

	DVFYX	FNPIX	FAFSX	PGFMX	XFINX	RMBKX	GCFSX	FIKBX
DVFYX		0.95	0.78	0.81	0.59	0.6	0.78	0.79	DVFYX
FNPIX	0.95		0.9	0.76	0.64	0.78	0.64	0.91	FNPIX
FAFSX	0.78	0.9		0.6	0.63	0.92	0.37	1.0	FAFSX
PGFMX	0.81	0.76	0.6		0.55	0.46	0.9	0.61	PGFMX
XFINX	0.59	0.64	0.63	0.55		0.59	0.45	0.64	XFINX
RMBKX	0.6	0.78	0.92	0.46	0.59		0.18	0.92	RMBKX
GCFSX	0.78	0.64	0.37	0.9	0.45	0.18		0.39	GCFSX
FIKBX	0.79	0.91	1.0	0.61	0.64	0.92	0.39		FIKBX
	DVFYX	FNPIX	FAFSX	PGFMX	XFINX	RMBKX	GCFSX	FIKBX

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Income 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 Income'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
DVFYX	0.85	0.07	0.05	0.03	1.27	(0.82)	1.65	(2.39)	6.47
FNPIX	1.27	0.06	0.02	0.01	1.87	(1.25)	2.66	(3.48)	9.08
FAFSX	0.91	(0.04)	0.00	(0.07)	0.00	0.00	1.71	(2.71)	6.26
PGFMX	0.39	(0.03)	0.00	0.16	0.00	0.00	0.85	(0.86)	2.21
XFINX	0.14	(0.02)	0.00	0.36	0.00	0.00	0.28	(0.64)	1.27
RMBKX	1.15	(0.13)	0.00	(0.16)	0.00	0.00	2.19	(3.08)	6.79
GCFSX	0.75	0.04	0.07	(0.41)	1.04	(0.76)	1.80	(2.41)	4.68
FIKBX	0.91	(0.03)	0.00	(0.07)	0.00	0.00	1.73	(2.69)	6.29

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Mainstay Income Correlations

Mainstay Income Correlation With Market

Poor diversification

Moving together with Mainstay Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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