Mainstay Wmc Correlations

MCSDX Fund

USD 40.48 0.57 1.43%

The current 90-days correlation between Mainstay Wmc Enduring and Mainstay Large Cap is 0.66 (i.e., Poor diversification). The correlation of Mainstay Wmc 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 Wmc Correlation With Market

Good diversification

The correlation between Mainstay Wmc Enduring and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Wmc Enduring 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 Wmc Enduring. 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 unemployment.

Moving together with Mainstay Mutual Fund

0.63	MMRAX	Mainstay Moderate	Pair Corr
0.63	MMRSX	Mainstay Moderate	Pair Corr
0.65	APSLX	Mainstay Fiera Smid	Pair Corr
0.69	APSDX	Mainstay Fiera Smid	Pair Corr
0.61	EPLKX	Mainstay Epoch Equity	Pair Corr
0.68	FCGYX	Mainstay Pinestone Global	Pair Corr
0.76	FCIKX	Mainstay Pinestone	Pair Corr
0.67	FCICX	Mainstay Pinestone	Pair Corr
0.61	MOEIX	Mainstay Growth Etf	Pair Corr
0.72	FCUPX	Mainstay Pinestone Equity	Pair Corr
0.67	FCUDX	Mainstay Pinestone Equity	Pair Corr

Related Correlations Analysis

	MLACX	MLAAX	MLAIX	MLRMX	MMHAX	MMHDX	MMHIX	MMPDX	MMPCX	MMRAX
MLACX		1.0	0.99	0.99	0.31	0.17	0.31	0.55	0.96	0.99	MLACX
MLAAX	1.0		0.99	0.99	0.31	0.17	0.31	0.55	0.96	0.99	MLAAX
MLAIX	0.99	0.99		1.0	0.3	0.16	0.3	0.54	0.98	0.98	MLAIX
MLRMX	0.99	0.99	1.0		0.3	0.16	0.3	0.53	0.98	0.98	MLRMX
MMHAX	0.31	0.31	0.3	0.3		0.99	1.0	-0.06	0.33	0.34	MMHAX
MMHDX	0.17	0.17	0.16	0.16	0.99		0.99	-0.17	0.19	0.19	MMHDX
MMHIX	0.31	0.31	0.3	0.3	1.0	0.99		-0.07	0.33	0.34	MMHIX
MMPDX	0.55	0.55	0.54	0.53	-0.06	-0.17	-0.07		0.57	0.53	MMPDX
MMPCX	0.96	0.96	0.98	0.98	0.33	0.19	0.33	0.57		0.97	MMPCX
MMRAX	0.99	0.99	0.98	0.98	0.34	0.19	0.34	0.53	0.97		MMRAX
	MLACX	MLAAX	MLAIX	MLRMX	MMHAX	MMHDX	MMHIX	MMPDX	MMPCX	MMRAX

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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

MLAAX	+ 1.0	MLACX
MLRMX	+ 1.0	MLAIX
MMHIX	+ 1.0	MMHAX
MLAIX	+ 0.99	MLACX
MLRMX	+ 0.99	MLACX
MMRAX	+ 0.99	MLACX

High negative correlations

MMPDX	- 0.17	MMHDX
MMPDX	- 0.07	MMHIX
MMPDX	- 0.06	MMHAX

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Wmc 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 Wmc'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
MLACX	0.81	0.34	0.13	(6.78)	0.59	(1.01)	2.62	(1.48)	5.67
MLAAX	0.83	0.34	0.14	(3.98)	0.62	(1.03)	2.65	(1.33)	5.62
MLAIX	0.81	0.19	0.20	0.36	0.42	(0.99)	2.62	(1.27)	5.64
MLRMX	0.81	0.19	0.19	0.36	0.42	(1.01)	2.58	(1.16)	5.68
MMHAX	0.19	(0.01)	0.00	0.38	0.00	0.00	0.45	(0.44)	1.42
MMHDX	0.20	(0.01)	0.00	0.74	0.00	0.00	0.44	(0.44)	1.33
MMHIX	0.20	(0.01)	0.00	0.64	0.00	0.00	0.45	(0.44)	1.42
MMPDX	0.54	(0.01)	(0.11)	0.16	0.54	(0.58)	1.11	(0.95)	4.45
MMPCX	0.61	(0.01)	(0.05)	0.15	0.61	(0.69)	1.61	(0.97)	4.45
MMRAX	0.35	0.14	(0.07)	(1.90)	0.25	(0.40)	1.11	(0.78)	2.51

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