Mainstay High Correlations

MMHAX Fund

USD 12.01 0.01 0.08%

The current 90-days correlation between Mainstay High Yield and Icon Natural Resources is 0.14 (i.e., Average diversification). The correlation of Mainstay High 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 High Correlation With Market

Average diversification

The correlation between Mainstay High Yield and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay High Yield 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 High Yield. 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

0.86	MKTBX	Mainstay Tax Free	Pair Corr
1.0	MMHDX	Mainstay High Yield	Pair Corr
1.0	MMHIX	Mainstay High Yield	Pair Corr
0.99	MNOAX	Mainstay New York	Pair Corr
0.99	MNOIX	Mainstay New York	Pair Corr
0.98	MNOLX	Mainstay Mackay New	Pair Corr

Related Correlations Analysis

	ICBAX	DLDCX	FRNRX	PNRCX	XNDPX	GRHAX
ICBAX		0.73	0.71	0.66	0.84	0.76	ICBAX
DLDCX	0.73		0.98	0.84	0.77	0.77	DLDCX
FRNRX	0.71	0.98		0.83	0.77	0.76	FRNRX
PNRCX	0.66	0.84	0.83		0.52	0.77	PNRCX
XNDPX	0.84	0.77	0.77	0.52		0.7	XNDPX
GRHAX	0.76	0.77	0.76	0.77	0.7		GRHAX
	ICBAX	DLDCX	FRNRX	PNRCX	XNDPX	GRHAX

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay High 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 High'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
ICBAX	0.81	0.01	0.05	0.13	0.67	(0.93)	1.94	(1.24)	6.37
DLDCX	0.93	0.08	(0.03)	(7.24)	1.27	(0.95)	2.08	(2.05)	6.37
FRNRX	0.78	0.00	(0.04)	0.00	1.04	(0.81)	1.59	(1.79)	5.19
PNRCX	0.92	(0.05)	(0.04)	0.07	1.37	(0.86)	2.10	(2.27)	7.19
XNDPX	0.89	0.23	0.08	13.10	1.01	(0.93)	1.83	(1.89)	4.96
GRHAX	1.10	0.08	0.05	0.20	1.29	(1.14)	2.55	(1.86)	8.81

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Mainstay High Correlations

Mainstay High Correlation With Market

Average diversification

Moving together with Mainstay Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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