Mainstay International Correlations
| MYICX Fund | USD 8.09 0.05 0.61% |
The current 90-days correlation between Mainstay International and Hennessy Technology Fund is 0.64 (i.e., Poor diversification). The correlation of Mainstay International 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 International Correlation With Market
Very weak diversification
The correlation between Mainstay International Opportu and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay International Opportu and DJI in the same portfolio, assuming nothing else is changed.
Mainstay |
Moving together with Mainstay Mutual Fund
| 0.86 | EPSYX | Mainstay Epoch Global | PairCorr |
| 0.86 | EPSPX | Mainstay Epoch Global | PairCorr |
| 0.85 | EPSKX | Mainstay Epoch Global | PairCorr |
| 0.64 | FCIKX | Mainstay Pinestone | PairCorr |
| 0.62 | FCICX | Mainstay Pinestone | PairCorr |
Moving against Mainstay Mutual Fund
| 0.59 | APSLX | Mainstay Fiera Smid | PairCorr |
| 0.58 | APSDX | Mainstay Fiera Smid | PairCorr |
| 0.47 | MLAAX | Mainstay Large Cap | PairCorr |
| 0.47 | MLRMX | Mainstay Winslow Large | PairCorr |
| 0.46 | MLAIX | Mainstay Large Cap | PairCorr |
| 0.45 | MLACX | Mainstay Large Cap | PairCorr |
| 0.32 | MMRCX | Mainstay Moderate | PairCorr |
| 0.47 | MOPCX | Mainstay Epoch Small Potential Growth | PairCorr |
| 0.46 | MOPAX | Mainstay Epoch Small | PairCorr |
| 0.46 | MOPIX | Mainstay Epoch Small Potential Growth | PairCorr |
Related Correlations Analysis
| 0.9 | 0.9 | 0.98 | 0.08 | HTECX | ||
| 0.9 | 0.97 | 0.88 | -0.1 | ROGSX | ||
| 0.9 | 0.97 | 0.88 | -0.1 | JAGTX | ||
| 0.98 | 0.88 | 0.88 | 0.07 | WFTDX | ||
| 0.08 | -0.1 | -0.1 | 0.07 | SBHIX | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Mainstay Mutual Fund performing well and Mainstay International 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 International'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HTECX | 1.16 | (0.09) | 0.00 | (0.13) | 0.00 | 1.67 | 5.92 | |||
| ROGSX | 1.21 | (0.17) | 0.00 | 1.99 | 0.00 | 1.69 | 6.47 | |||
| JAGTX | 1.20 | (0.12) | 0.00 | 0.76 | 0.00 | 2.00 | 6.40 | |||
| WFTDX | 0.94 | (0.05) | 0.00 | (0.10) | 0.00 | 1.87 | 4.98 | |||
| SBHIX | 0.62 | 0.06 | 0.12 | 0.06 | 0.69 | 1.20 | 3.37 |