Mainstay Mackay Correlations
| MTFHX Fund | USD 9.54 0.01 0.10% |
The current 90-days correlation between Mainstay Mackay Strategic and Vanguard Intermediate Term Tax Exempt is 0.94 (i.e., Almost no diversification). The correlation of Mainstay Mackay 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 Mackay Correlation With Market
Very good diversification
The correlation between Mainstay Mackay Strategic and DJI is -0.32 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Mackay Strategic and DJI in the same portfolio, assuming nothing else is changed.
Mainstay |
Moving together with Mainstay Mutual Fund
| 0.99 | MKINX | Mainstay Tax Free | PairCorr |
| 0.98 | MMHEX | Mainstay Mackay High | PairCorr |
| 0.98 | MMHVX | Mainstay High Yield | PairCorr |
| 0.88 | MNODX | Mainstay Mackay New | PairCorr |
| 0.98 | MNOVX | Mainstay New York | PairCorr |
| 0.97 | MSCVX | Mainstay California Tax | PairCorr |
| 0.97 | MSODX | Mainstay Mackay Cali | PairCorr |
| 0.71 | MSYEX | Mainstay Mackay Unco | PairCorr |
| 0.71 | MSYDX | Mainstay Unconstrained | PairCorr |
| 0.91 | MTBDX | Mainstay Mackay Tax | PairCorr |
| 0.91 | MTFEX | Mainstay Mackay Strategic | PairCorr |
| 0.99 | MTFDX | Mainstay Mackay Strategic | PairCorr |
| 0.99 | MTFFX | Mainstay Mackay Strategic | PairCorr |
| 0.69 | MTMNX | Mainstay Total Return | PairCorr |
| 0.7 | MTRDX | Mainstay Total Return | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Mainstay Mutual Fund performing well and Mainstay Mackay 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 Mackay'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VWITX | 0.12 | 0.01 | (0.43) | 0.05 | 0.16 | 0.22 | 1.03 | |||
| VWIUX | 0.12 | 0.01 | (0.42) | 0.03 | 0.16 | 0.29 | 1.10 | |||
| AFTEX | 0.13 | 0.01 | (0.33) | (0.03) | 0.20 | 0.32 | 1.29 | |||
| AFTFX | 0.13 | 0.01 | (0.33) | (0.03) | 0.20 | 0.32 | 1.29 | |||
| TEBCX | 0.13 | 0.01 | (0.33) | 0.00 | 0.20 | 0.32 | 1.29 | |||
| TEAFX | 0.13 | 0.01 | (0.32) | (0.04) | 0.19 | 0.32 | 1.29 | |||
| FLTMX | 0.11 | (0.01) | (0.41) | (0.07) | 0.15 | 0.30 | 1.09 | |||
| MDNLX | 0.14 | 0.01 | (0.40) | (0.01) | 0.16 | 0.30 | 1.09 |