Mainstay Equity Correlations

MWFAX Fund

USD 15.26 0.22 1.42%

The current 90-days correlation between Mainstay Equity Etf and Mainstay Vertible Fund is 0.81 (i.e., Very poor diversification). The correlation of Mainstay Equity 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 Equity Correlation With Market

Modest diversification

The correlation between Mainstay Equity Etf and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Equity Etf 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 Equity Etf. 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

0.9	CGRGX	American Funds Growth	Pair Corr
0.9	FPGGX	American Funds Growth	Pair Corr
0.9	FGPGX	American Funds Growth	Pair Corr
0.71	MUTHX	Franklin Mutual Shares	Pair Corr
0.71	TESRX	Franklin Mutual Shares	Pair Corr
0.71	FMSHX	Franklin Mutual Shares	Pair Corr
0.89	GWPCX	American Funds Growth	Pair Corr
0.9	GWPFX	American Funds Growth	Pair Corr
0.72	GWPAX	American Funds Growth	Pair Corr
0.9	CGQGX	American Funds Growth	Pair Corr
0.72	VTSAX	Vanguard Total Stock	Pair Corr
0.91	VFIAX	Vanguard 500 Index	Pair Corr
0.72	VTSMX	Vanguard Total Stock	Pair Corr
0.72	VSMPX	Vanguard Total Stock	Pair Corr
0.72	VSTSX	Vanguard Total Stock	Pair Corr
0.92	VITSX	Vanguard Total Stock	Pair Corr
0.91	VFINX	Vanguard 500 Index	Pair Corr
0.69	VFFSX	Vanguard 500 Index	Pair Corr

Moving against Mainstay Mutual Fund

0.34

TRV

The Travelers Companies

Pair Corr

Related Correlations Analysis

	MCCVX	CICVX	WEIAX	FISCX	GCV	FSAWX	HRCSX
MCCVX		0.72	0.85	0.9	0.63	-0.33	0.89	MCCVX
CICVX	0.72		0.78	0.78	0.61	-0.15	0.81	CICVX
WEIAX	0.85	0.78		0.78	0.68	-0.12	0.97	WEIAX
FISCX	0.9	0.78	0.78		0.59	-0.26	0.86	FISCX
GCV	0.63	0.61	0.68	0.59		0.24	0.69	GCV
FSAWX	-0.33	-0.15	-0.12	-0.26	0.24		-0.15	FSAWX
HRCSX	0.89	0.81	0.97	0.86	0.69	-0.15		HRCSX
	MCCVX	CICVX	WEIAX	FISCX	GCV	FSAWX	HRCSX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

HRCSX	+ 0.97	WEIAX
FISCX	+ 0.9	MCCVX
HRCSX	+ 0.89	MCCVX
HRCSX	+ 0.86	FISCX
WEIAX	+ 0.85	MCCVX
HRCSX	+ 0.81	CICVX

High negative correlations

FSAWX	- 0.33	MCCVX
FSAWX	- 0.26	FISCX
HRCSX	- 0.15	FSAWX
FSAWX	- 0.15	CICVX
FSAWX	- 0.12	WEIAX

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Equity 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 Equity'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
MCCVX	0.45	(0.11)	0.00	(0.72)	0.00	0.61	(1.28)	2.33
CICVX	0.61	(0.06)	0.00	(0.23)	0.00	1.11	(1.09)	3.09
WEIAX	0.63	(0.08)	0.00	(0.47)	0.00	1.21	(1.49)	3.48
FISCX	0.53	(0.13)	0.00	(1.62)	0.00	0.74	(1.33)	2.74
GCV	0.87	(0.01)	0.00	(0.14)	0.00	1.83	(1.55)	5.96
FSAWX	0.08	0.00	1.27	0.00	(0.13)	0.19	(0.10)	0.37
HRCSX	0.58	(0.07)	0.00	(0.40)	0.00	1.02	(1.26)	3.14

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC