Mainstay Fiera Correlations

APSLX Fund

17.80 0.36 2.06%

The current 90-days correlation between Mainstay Fiera Smid and T Rowe Price is -0.06 (i.e., Good diversification). The correlation of Mainstay Fiera 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 Fiera Correlation With Market

Good diversification

The correlation between Mainstay Fiera Smid and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Fiera Smid and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Mainstay Fiera Smid. 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 economic analysis.

Moving together with Mainstay Mutual Fund

0.74	PAMCX	T Rowe Price	Pair Corr
0.66	RRMGX	T Rowe Price	Pair Corr
0.67	TRQZX	T Rowe Price	Pair Corr
0.67	RPMGX	T Rowe Price	Pair Corr
0.76	PRJIX	T Rowe Price	Pair Corr
0.81	PRNHX	T Rowe Price	Pair Corr
0.76	TRUZX	T Rowe Price	Pair Corr
0.72	PCBIX	Midcap Fund Institutional	Pair Corr
0.65	PEMGX	Midcap Fund Class	Pair Corr
0.72	PMBCX	Midcap Fund Class	Pair Corr
0.77	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.77	RYVLX	Nasdaq 100 2x	Pair Corr
0.75	RYVYX	Nasdaq 100 2x	Pair Corr
0.77	UOPIX	Ultra Nasdaq 100	Pair Corr
0.77	RYCCX	Nasdaq 100 2x	Pair Corr
0.77	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.78	INPIX	Internet Ultrasector	Pair Corr
0.78	INPSX	Internet Ultrasector	Pair Corr
0.7	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.76	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.67	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.69	DIS	Walt Disney Aggressive Push	Pair Corr
0.62	WMT	Walmart Aggressive Push	Pair Corr

Moving against Mainstay Mutual Fund

0.4	TGLDX	Tocqueville Gold	Pair Corr
0.79	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.76	KO	Coca Cola Aggressive Push	Pair Corr
0.69	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.67	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.52	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	TRGLX	VGCAX	DSDYX	MGGNX	HRLFX	APDPX	RPGIX
TRGLX		0.02	-0.24	0.09	0.63	0.37	0.9	TRGLX
VGCAX	0.02		0.86	0.88	0.46	-0.45	0.16	VGCAX
DSDYX	-0.24	0.86		0.65	0.3	-0.75	-0.17	DSDYX
MGGNX	0.09	0.88	0.65		0.37	-0.13	0.24	MGGNX
HRLFX	0.63	0.46	0.3	0.37		-0.18	0.58	HRLFX
APDPX	0.37	-0.45	-0.75	-0.13	-0.18		0.49	APDPX
RPGIX	0.9	0.16	-0.17	0.24	0.58	0.49		RPGIX
	TRGLX	VGCAX	DSDYX	MGGNX	HRLFX	APDPX	RPGIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

RPGIX	+ 0.9	TRGLX
MGGNX	+ 0.88	VGCAX
DSDYX	+ 0.86	VGCAX
MGGNX	+ 0.65	DSDYX
HRLFX	+ 0.63	TRGLX
RPGIX	+ 0.58	HRLFX

High negative correlations

APDPX	- 0.75	DSDYX
APDPX	- 0.45	VGCAX
DSDYX	- 0.24	TRGLX
APDPX	- 0.18	HRLFX
RPGIX	- 0.17	DSDYX
APDPX	- 0.13	MGGNX

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Fiera 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 Fiera'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
TRGLX	0.65	(0.09)	0.00	(0.02)	0.00	0.00	1.27	(1.44)	4.15
VGCAX	0.18	(0.01)	0.00	(0.31)	0.00	0.00	0.37	(0.36)	0.98
DSDYX	0.16	(0.02)	0.00	1.33	0.00	0.00	0.34	(0.24)	0.92
MGGNX	0.19	0.00	(0.39)	0.33	0.21	(0.25)	0.34	(0.34)	1.13
HRLFX	0.44	(0.05)	0.00	(0.08)	0.00	0.00	0.90	(0.99)	2.90
APDPX	0.09	0.04	(0.55)	(7.80)	0.00	(0.14)	0.20	(0.10)	0.40
RPGIX	0.74	(0.07)	(0.06)	0.03	1.03	(0.73)	1.46	(1.57)	4.67

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC