Mainstay Short Correlations

MDHAX Fund

USD 9.58 0.01 0.10%

The correlation of Mainstay Short 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 Short Correlation With Market

Average diversification

The correlation between Mainstay Short Duration and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Short Duration 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 Short Duration. 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 nation.

Moving together with Mainstay Mutual Fund

0.64

MOTBX

Mainstay Epoch Small

Pair Corr

Moving against Mainstay Mutual Fund

0.46	MLACX	Mainstay Large Cap	Pair Corr
0.46	MLABX	Mainstay Large Cap	Pair Corr
0.41	MLRMX	Mainstay Winslow Large	Pair Corr
0.4	MLAAX	Mainstay Large Cap	Pair Corr
0.37	MLAIX	Mainstay Large Cap	Pair Corr
0.62	EPSKX	Mainstay Epoch Global	Pair Corr
0.51	EPLPX	Mainstay Epoch Equity	Pair Corr
0.47	FCICX	Mainstay Pinestone	Pair Corr
0.46	EPSYX	Mainstay Epoch Global	Pair Corr
0.46	EPSPX	Mainstay Epoch Global	Pair Corr
0.4	EPLKX	Mainstay Epoch Equity	Pair Corr
0.4	EPLBX	Mainstay Epoch Equity	Pair Corr
0.39	EPLMX	Mainstay Epoch Equity	Pair Corr
0.39	EPLCX	Mainstay Epoch Equity	Pair Corr
0.38	FCGYX	Mainstay Pinestone Global	Pair Corr
0.37	VCRCX	Mainstay Cbre Global	Pair Corr
0.36	VCRAX	Voya Cbre Global	Pair Corr
0.35	VCRIX	Voya Cbre Global	Pair Corr

Related Correlations Analysis

	ELMXX	DPIGX	IVMXX	SIGVX	DVPXX
ELMXX		0.0	0.0	0.0	0.0	ELMXX
DPIGX	0.0		0.0	0.85	0.18	DPIGX
IVMXX	0.0	0.0		0.0	0.0	IVMXX
SIGVX	0.0	0.85	0.0		0.3	SIGVX
DVPXX	0.0	0.18	0.0	0.3		DVPXX
	ELMXX	DPIGX	IVMXX	SIGVX	DVPXX

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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

SIGVX	+ 0.85	DPIGX
DVPXX	+ 0.3	SIGVX
DVPXX	+ 0.18	DPIGX
DPIGX	+ 0.0	ELMXX
IVMXX	+ 0.0	ELMXX
SIGVX	+ 0.0	ELMXX

High negative correlations

DVPXX	- 0.0	IVMXX
SIGVX	- 0.0	IVMXX
IVMXX	- 0.0	DPIGX
DVPXX	- 0.0	ELMXX
SIGVX	- 0.0	ELMXX
IVMXX	- 0.0	ELMXX

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Short 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 Short'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ELMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DPIGX	0.05	0.00	(0.15)	0.04	(0.15)	0.21	(0.11)	0.42
IVMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SIGVX	0.06	0.01	(0.07)	(0.65)	(0.22)	0.10	(0.10)	0.61
DVPXX	0.03	0.01	0.00	0.40	0.00	0.00	0.00	1.01

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