Mainstay Epoch Correlations

EPSKX Fund

USD 22.41 0.08 0.36%

The current 90-days correlation between Mainstay Epoch Global and Mainstay High Yield is 0.03 (i.e., Significant 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 weak diversification

The correlation between Mainstay Epoch Global and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Epoch Global and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Mainstay Epoch Global. 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 industry.

Moving together with Mainstay Mutual Fund

0.72	MKTRX	Mainstay Income Builder	Pair Corr
0.94	MLACX	Mainstay Large Cap	Pair Corr
0.94	MLABX	Mainstay Large Cap	Pair Corr
0.92	MLAAX	Mainstay Large Cap	Pair Corr
0.9	MLAIX	Mainstay Large Cap	Pair Corr
0.92	MLRMX	Mainstay Winslow Large	Pair Corr
0.85	MMPDX	Mainstay Wmc Value	Pair Corr
0.89	MMPCX	Mainstay Map Equity	Pair Corr
0.96	EPLPX	Mainstay Epoch Equity	Pair Corr
0.98	EPLMX	Mainstay Epoch Equity	Pair Corr
0.96	EPLKX	Mainstay Epoch Equity	Pair Corr
0.98	EPLCX	Mainstay Epoch Equity	Pair Corr
0.98	EPLBX	Mainstay Epoch Equity	Pair Corr
0.98	FCGYX	Mainstay Pinestone Global	Pair Corr
0.97	EPSYX	Mainstay Epoch Global	Pair Corr
1.0	EPSPX	Mainstay Epoch Global	Pair Corr

Moving against Mainstay Mutual Fund

0.33

MKHCX

Mainstay High Yield

Pair Corr

Related Correlations Analysis

	MKHCX	MKTBX	MKTRX	MLACX	MLABX	MLAAX	MLAIX	MLRMX	MMHAX	MMHDX
MKHCX		0.64	0.22	-0.31	-0.31	-0.22	-0.18	-0.23	0.69	0.57	MKHCX
MKTBX	0.64		0.69	0.2	0.21	0.27	0.3	0.26	0.99	0.99	MKTBX
MKTRX	0.22	0.69		0.64	0.64	0.67	0.68	0.67	0.63	0.75	MKTRX
MLACX	-0.31	0.2	0.64		1.0	0.99	0.98	0.99	0.11	0.31	MLACX
MLABX	-0.31	0.21	0.64	1.0		0.99	0.98	0.99	0.11	0.31	MLABX
MLAAX	-0.22	0.27	0.67	0.99	0.99		1.0	1.0	0.18	0.36	MLAAX
MLAIX	-0.18	0.3	0.68	0.98	0.98	1.0		1.0	0.21	0.38	MLAIX
MLRMX	-0.23	0.26	0.67	0.99	0.99	1.0	1.0		0.17	0.35	MLRMX
MMHAX	0.69	0.99	0.63	0.11	0.11	0.18	0.21	0.17		0.97	MMHAX
MMHDX	0.57	0.99	0.75	0.31	0.31	0.36	0.38	0.35	0.97		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
MLAIX	+ 1.0	MLAAX
MLRMX	+ 1.0	MLAAX
MLRMX	+ 1.0	MLAIX
MMHAX	+ 0.99	MKTBX
MMHDX	+ 0.99	MKTBX

High negative correlations

MLABX	- 0.31	MKHCX
MLACX	- 0.31	MKHCX
MLRMX	- 0.23	MKHCX
MLAAX	- 0.22	MKHCX
MLAIX	- 0.18	MKHCX

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	0.00	0.03	0.59	0.09	(0.21)	0.19	(0.38)	0.58
MKTBX	0.20	(0.03)	0.00	(0.53)	0.00	0.00	0.33	(0.53)	1.51
MKTRX	0.40	(0.05)	0.00	(0.20)	0.00	0.00	0.77	(0.94)	3.16
MLACX	1.47	(0.43)	0.00	(0.92)	0.00	0.00	1.58	(2.32)	35.65
MLABX	1.49	(0.43)	0.00	(0.87)	0.00	0.00	1.62	(2.31)	35.75
MLAAX	1.16	(0.21)	0.00	(0.53)	0.00	0.00	1.57	(2.29)	21.05
MLAIX	1.11	(0.16)	0.00	(0.45)	0.00	0.00	1.52	(2.27)	18.18
MLRMX	1.18	(0.23)	0.00	(0.58)	0.00	0.00	1.51	(2.25)	22.17
MMHAX	0.26	(0.03)	0.00	(0.41)	0.00	0.00	0.51	(0.59)	2.03
MMHDX	0.25	(0.04)	0.00	(0.48)	0.00	0.00	0.51	(0.59)	2.03

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