Mainstay Candriam Correlations

MCYVX Fund

USD 10.31 0.03 0.29%

The current 90-days correlation between Mainstay Candriam and T Rowe Price is 0.04 (i.e., Significant diversification). The correlation of Mainstay Candriam 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 Candriam Correlation With Market

Modest diversification

The correlation between Mainstay Candriam Emerging and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Candriam Emerging 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 Candriam Emerging. 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 real.

Moving together with Mainstay Mutual Fund

0.75	EPSRX	Mainstay Epoch Global	Pair Corr
0.75	EPSIX	Mainstay Epoch Global	Pair Corr
1.0	MCYAX	Mainstay Candriam	Pair Corr

Related Correlations Analysis

	PRINX	BBINX	OWMBX	MSTPX	MDMTX	PCMNX	PRFHX	PATFX
PRINX		0.95	0.86	0.98	0.82	0.91	0.98	0.97	PRINX
BBINX	0.95		0.94	0.92	0.89	0.97	0.94	0.95	BBINX
OWMBX	0.86	0.94		0.83	0.94	0.98	0.82	0.85	OWMBX
MSTPX	0.98	0.92	0.83		0.8	0.89	0.95	0.94	MSTPX
MDMTX	0.82	0.89	0.94	0.8		0.92	0.75	0.77	MDMTX
PCMNX	0.91	0.97	0.98	0.89	0.92		0.89	0.92	PCMNX
PRFHX	0.98	0.94	0.82	0.95	0.75	0.89		1.0	PRFHX
PATFX	0.97	0.95	0.85	0.94	0.77	0.92	1.0		PATFX
	PRINX	BBINX	OWMBX	MSTPX	MDMTX	PCMNX	PRFHX	PATFX

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Candriam 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 Candriam'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
PRINX	0.16	0.02	(0.26)	(0.12)	0.21	(0.24)	0.44	(0.44)	1.59
BBINX	0.12	0.01	(0.41)	0.01	0.15	(0.19)	0.29	(0.29)	1.07
OWMBX	0.10	0.00	(0.49)	0.18	0.15	(0.16)	0.26	(0.26)	0.87
MSTPX	0.11	0.01	(0.29)	(0.09)	0.14	(0.18)	0.30	(0.30)	1.10
MDMTX	0.17	0.01	(0.28)	0.01	0.24	(0.23)	0.38	(0.56)	1.33
PCMNX	0.11	0.00	(0.37)	0.09	0.18	(0.16)	0.25	(0.25)	1.07
PRFHX	0.15	0.02	(0.24)	(0.10)	0.21	(0.23)	0.44	(0.44)	1.61
PATFX	0.16	0.02	(0.24)	(0.08)	0.22	(0.24)	0.44	(0.35)	1.69

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Mainstay Candriam Correlations

Mainstay Candriam Correlation With Market

Modest diversification

Moving together with Mainstay Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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