Mainstay Epoch Correlations

Mutual Funds . USA . 
Fund . Mainstay Epoch Capital
MECVX Fund  USD 15.70  0.01  0.06%   
The current 90-days correlation between Mainstay Epoch Capital and Artisan Emerging Markets is -0.01 (i.e., Good 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 poor diversification

The correlation between Mainstay Epoch Capital and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Epoch Capital 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 Epoch Capital. 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

  0.76MLGRX Mainstay Large CapPairCorr
  0.76MLINX Mainstay Large CapPairCorr
  0.69MLRTX Mainstay Large CapPairCorr
  0.76MLRSX Mainstay Large CapPairCorr
  0.76MLRRX Mainstay Large CapPairCorr
  0.9MMRDX Mainstay ModeratePairCorr
  0.83EPLIX Mainstay Epoch EquityPairCorr
  0.82EPLDX Mainstay Epoch EquityPairCorr
  0.86EPSRX Mainstay Epoch GlobalPairCorr
  0.85EPSIX Mainstay Epoch GlobalPairCorr
  0.75MSMIX Mainstay Map EquityPairCorr
  0.79MBERX Mainstay BalancedPairCorr
  0.79MBINX Mainstay BalancedPairCorr
  0.71MTINX Mainstay Income BuilderPairCorr
  0.81MTODX Mainstay Income BuilderPairCorr
  0.84KLGNX Mainstay Nerstone GrowthPairCorr
  0.85MCINX Mainstay ConvertiblePairCorr
  0.85MCKNX Mainstay ConservativePairCorr
  0.75MCSSX Mainstay Mon StockPairCorr
  0.72MCYAX Mainstay CandriamPairCorr

Moving against Mainstay Mutual Fund

  0.34MTMNX Mainstay Total ReturnPairCorr
  0.41MGVNX Mainstay GovernmentPairCorr

Related Correlations Analysis

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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   
REMVX
+ 0.96
TEGCX
VEIEX
+ 0.95
DODEX
REMVX
+ 0.94
VEIEX
VEIEX
+ 0.92
TEGCX
REMVX
+ 0.91
DODEX
DODEX
+ 0.87
TEGCX
  
High negative correlations   
ABNTX
- 0.17
APDOX

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.

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