Mainstay Epoch Correlations

Mutual Funds . USA . 
Fund . Mainstay Epoch Small
MOPCX Fund  USD 20.91  0.37  1.80%   
The current 90-days correlation between Mainstay Epoch Small and Morgan Stanley Global is 0.6 (i.e., Poor 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 Small and DJI is 0.85 (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 Small 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 Small. 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 main economic indicators.

Moving together with Mainstay Mutual Fund

  0.81MLACX Mainstay Large CapPairCorr
  0.81MLABX Mainstay Large CapPairCorr
  0.81MLAAX Mainstay Large CapPairCorr
  0.81MLAIX Mainstay Large CapPairCorr
  0.81MLRMX Mainstay Winslow LargePairCorr
  0.87MMPDX Mainstay Wmc ValuePairCorr
  0.88MMPCX Mainstay Map EquityPairCorr
  0.68MMRAX Mainstay ModeratePairCorr
  0.66MMRCX Mainstay ModeratePairCorr
  0.66MMRBX Mainstay ModeratePairCorr
  0.68MMRIX Mainstay ModeratePairCorr
  0.68MMRSX Mainstay ModeratePairCorr
  0.96APSLX Mainstay Fiera SmidPairCorr
  0.96APSDX Mainstay Fiera SmidPairCorr
  0.69EPLPX Mainstay Epoch EquityPairCorr
  0.69EPLMX Mainstay Epoch EquityPairCorr
  0.69EPLKX Mainstay Epoch EquityPairCorr
  0.69EPLCX Mainstay Epoch EquityPairCorr
  0.69EPLBX Mainstay Epoch EquityPairCorr
  0.75MOEAX Mainstay Growth EtfPairCorr

Moving against Mainstay Mutual Fund

  0.38MKTBX Mainstay Tax FreePairCorr
  0.36MMHDX Mainstay High YieldPairCorr
  0.65FCICX Mainstay PinestonePairCorr
  0.59MSDIX Mainstay UnconstrainedPairCorr
  0.54CLARX Voya Real EstatePairCorr

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   
RPGIX
+ 0.85
WRLDX
WRLDX
+ 0.69
MGKAX
BXFIX
+ 0.56
WRLDX
RPGIX
+ 0.54
MGKAX
RPGIX
+ 0.51
BXFIX
EQTYX
+ 0.33
MGGNX
  
High negative correlations   
EQTYX
- 0.42
BXFIX
MGGNX
- 0.13
MGKAX

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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