Mainstay Epoch Correlations

Mutual Funds . USA . 
Fund . Mainstay Epoch Equity
EPLCX Fund  USD 22.72  0.05  0.22%   
The current 90-days correlation between Mainstay Epoch Equity and Mainstay Large Cap is 0.14 (i.e., Average 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

Almost no diversification

The correlation between Mainstay Epoch Equity and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Epoch Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Mainstay Epoch Equity. 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

  0.69MLACX Mainstay Large CapPairCorr
  0.69MLAIX Mainstay Large CapPairCorr
  0.69MMRAX Mainstay ModeratePairCorr
  0.99MMRCX Mainstay ModeratePairCorr
  0.99MNEVX Mainstay Conservative EtfPairCorr
  0.66APSLX Mainstay Fiera SmidPairCorr
  0.95APSDX Mainstay Fiera SmidPairCorr
  0.99MNEKX Mainstay Conservative EtfPairCorr
  0.97FCGYX Mainstay Pinestone GlobalPairCorr
  0.99EPSYX Mainstay Epoch GlobalPairCorr
  0.99EPSKX Mainstay Epoch GlobalPairCorr
  0.97FCUDX Mainstay Pinestone EquityPairCorr
  0.64MSCAX Mainstay California TaxPairCorr
  0.76MSPIX Mainstay Sp 500PairCorr
  0.69MBACX Mainstay BalancedPairCorr
  0.68MBAIX Mainstay BalancedPairCorr
  0.94ICEVX Mainstay Epoch InterPairCorr
  0.94ICEUX Mainstay Epoch InterPairCorr
  0.68MBNAX Mainstay BalancedPairCorr
  0.62MTBAX Mainstay Tax FreePairCorr
  0.72MTBIX Mainstay Tax FreePairCorr
  0.99MTISX Mainstay Income BuilderPairCorr
  0.99MTRAX Mainstay Income BuilderPairCorr
  0.99MCKSX Mainstay ConservativePairCorr
  0.66MCNVX Mainstay VertiblePairCorr
  0.75MCOAX Mainstay ConvertiblePairCorr
  0.99MCTRX Mainstay Income BuilderPairCorr
  0.99MDARX Mainstay Moderate EtfPairCorr
  0.99MDAVX Mainstay Moderate EtfPairCorr
  0.98MDHCX Mainstay Short DurationPairCorr
  0.98MXFAX Mainstay Floating RatePairCorr
  0.99MGDAX Mainstay Moderate GrowthPairCorr

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 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MLACX  0.72  0.37  0.31  3.35  0.00 
(0.96)
 2.09 
(0.97)
 5.67 
MLAAX  0.74  0.38  0.33  3.46  0.00 
(0.98)
 2.19 
(1.08)
 5.62 
MLAIX  0.75  0.37  0.35  2.33  0.00 
(0.97)
 2.27 
(1.05)
 5.64 
MLRMX  0.74  0.37  0.33  3.44  0.00 
(0.96)
 2.24 
(1.05)
 5.68 
MMHAX  0.17 (0.02)(0.51)(0.07) 0.18 
(0.28)
 0.45 
(0.44)
 1.42 
MMHDX  0.20 (0.03) 0.00 (0.38) 0.00 
 0.00 
 0.36 
(0.44)
 1.33 
MMHIX  0.18 (0.02)(0.53)(0.05) 0.19 
(0.24)
 0.45 
(0.36)
 1.42 
MMPDX  0.61  0.01 (0.02) 0.14  0.61 
(0.66)
 1.62 
(0.98)
 4.45 
MMPCX  0.55  0.14  0.00 (1.18) 0.50 
(0.64)
 1.35 
(0.96)
 4.45 
MMRAX  0.32  0.14  0.01 (8.83) 0.00 
(0.38)
 0.98 
(0.63)
 2.51 

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