Mainstay Common Correlations

MCSSX Fund

USD 39.03 0.15 0.39%

The current 90-days correlation between Mainstay Mon Stock and Legg Mason Western is -0.19 (i.e., Good diversification). The correlation of Mainstay Common 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 Common Correlation With Market

Good diversification

The correlation between Mainstay Mon Stock and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Mon Stock 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 Mon Stock. 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 state.

Moving together with Mainstay Mutual Fund

0.8	JPM	JPMorgan Chase	Pair Corr
0.72	WMT	Walmart	Pair Corr
0.77	GE	GE Aerospace	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.72	MMM	3M Company	Pair Corr
0.64	IBM	International Business	Pair Corr

Related Correlations Analysis

	SHDAX	BXDCX	SGLIX	CENTX	PIEQX	FGFAX	HRSTX
SHDAX		0.94	-0.01	0.91	0.91	0.91	0.79	SHDAX
BXDCX	0.94		-0.18	0.87	0.89	0.89	0.74	BXDCX
SGLIX	-0.01	-0.18		0.1	0.04	0.1	0.35	SGLIX
CENTX	0.91	0.87	0.1		0.99	0.99	0.83	CENTX
PIEQX	0.91	0.89	0.04	0.99		0.99	0.81	PIEQX
FGFAX	0.91	0.89	0.1	0.99	0.99		0.84	FGFAX
HRSTX	0.79	0.74	0.35	0.83	0.81	0.84		HRSTX
	SHDAX	BXDCX	SGLIX	CENTX	PIEQX	FGFAX	HRSTX

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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

PIEQX	+ 0.99	CENTX
FGFAX	+ 0.99	CENTX
FGFAX	+ 0.99	PIEQX
BXDCX	+ 0.94	SHDAX
CENTX	+ 0.91	SHDAX
PIEQX	+ 0.91	SHDAX

High negative correlations

SGLIX	- 0.18	BXDCX
SGLIX	- 0.01	SHDAX

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Common 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 Common'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
SHDAX	0.05	(0.01)	0.32	(0.97)	0.05	(0.20)	0.20	(0.20)	0.40
BXDCX	0.08	0.01	0.68	(0.25)	0.00	(0.15)	0.22	(0.11)	0.54
SGLIX	0.81	(0.26)	0.00	(4.88)	0.00	0.00	0.97	(0.97)	18.08
CENTX	0.48	0.07	0.23	(1.30)	0.49	(0.54)	1.09	(0.87)	3.07
PIEQX	0.66	0.10	0.20	(0.60)	0.78	(0.75)	1.55	(1.17)	4.73
FGFAX	0.80	0.12	0.19	(1.16)	0.95	(0.85)	1.79	(1.64)	5.93
HRSTX	0.06	(0.01)	0.21	1.19	0.12	(0.10)	0.12	(0.12)	0.71

Trending Assets

CENTX

Centerstone Investors

13.04 0.04 0.31

SGLIX

Summit Global Investments

32.63 0.14 0.43

BXDCX

Barings Active Short

9.29 -0.01 -0.11

HRSTX

Rational Real Strategies

16.84 0.01 0.06

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