Mainstay Candriam Correlations

MCYAX Fund

USD 11.73 0.08 0.68%

The current 90-days correlation between Mainstay Candriam and Mainstay Tax Free is 0.14 (i.e., Average diversification). The correlation of Mainstay Candriam 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 Candriam Correlation With Market

Good diversification

The correlation between Mainstay Candriam Emerging and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Candriam Emerging 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 Candriam Emerging. 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

0.68	MKINX	Mainstay Tax Free	Pair Corr
0.97	MLGRX	Mainstay Large Cap	Pair Corr
0.97	MLINX	Mainstay Large Cap	Pair Corr
0.97	MLRTX	Mainstay Large Cap	Pair Corr
0.74	MLRSX	Mainstay Large Cap	Pair Corr
0.97	MLRRX	Mainstay Large Cap	Pair Corr
0.74	MMRDX	Mainstay Moderate	Pair Corr
0.73	EPLIX	Mainstay Epoch Equity	Pair Corr
0.72	EPLDX	Mainstay Epoch Equity	Pair Corr
0.98	EPSRX	Mainstay Epoch Global	Pair Corr
0.98	EPSIX	Mainstay Epoch Global	Pair Corr
0.94	MOINX	Mainstay Epoch Small	Pair Corr
0.85	VCRVX	Mainstay Cbre Global	Pair Corr
0.86	VCRQX	Mainstay Cbre Global	Pair Corr
0.96	MSMIX	Mainstay Map Equity	Pair Corr
0.63	MSODX	Mainstay Mackay Cali	Pair Corr
0.74	MBERX	Mainstay Balanced	Pair Corr
0.74	MBINX	Mainstay Balanced	Pair Corr
0.94	ICELX	Mainstay Epoch Inter	Pair Corr
0.63	MTBDX	Mainstay Mackay Tax	Pair Corr
0.75	MTFEX	Mainstay Mackay Strategic	Pair Corr
0.92	MTFFX	Mainstay Mackay Strategic	Pair Corr
0.98	MTINX	Mainstay Income Builder	Pair Corr
0.78	MTMNX	Mainstay Total Return	Pair Corr
0.98	MTODX	Mainstay Income Builder	Pair Corr
0.79	MTRDX	Mainstay Total Return	Pair Corr
0.97	KLGNX	Mainstay Nerstone Growth	Pair Corr
0.98	MCINX	Mainstay Convertible	Pair Corr
0.98	MCKNX	Mainstay Conservative	Pair Corr
0.99	MCYCX	Mainstay Candriam	Pair Corr
0.72	MCYIX	Mainstay Candriam	Pair Corr
0.99	MCYSX	Mainstay Candriam	Pair Corr
0.75	MCYVX	Mainstay Candriam	Pair Corr
0.74	MDHVX	Mainstay Short Duration	Pair Corr

Related Correlations Analysis

	MKINX	MLGRX	MLINX	MLRTX	MLRSX	MLRRX	MMHEX	MMHVX	MMRDX	MNODX
MKINX		0.67	0.67	0.67	0.45	0.67	0.88	0.83	0.47	0.85	MKINX
MLGRX	0.67		1.0	1.0	0.77	1.0	0.41	0.47	0.76	0.26	MLGRX
MLINX	0.67	1.0		1.0	0.77	1.0	0.41	0.47	0.76	0.26	MLINX
MLRTX	0.67	1.0	1.0		0.77	1.0	0.41	0.47	0.76	0.26	MLRTX
MLRSX	0.45	0.77	0.77	0.77		0.77	0.2	0.19	0.99	0.07	MLRSX
MLRRX	0.67	1.0	1.0	1.0	0.77		0.41	0.47	0.76	0.26	MLRRX
MMHEX	0.88	0.41	0.41	0.41	0.2	0.41		0.87	0.22	0.95	MMHEX
MMHVX	0.83	0.47	0.47	0.47	0.19	0.47	0.87		0.2	0.85	MMHVX
MMRDX	0.47	0.76	0.76	0.76	0.99	0.76	0.22	0.2		0.1	MMRDX
MNODX	0.85	0.26	0.26	0.26	0.07	0.26	0.95	0.85	0.1		MNODX
	MKINX	MLGRX	MLINX	MLRTX	MLRSX	MLRRX	MMHEX	MMHVX	MMRDX	MNODX

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Candriam 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 Candriam'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
MKINX	0.14	(0.01)	(0.49)	(0.03)	0.15	(0.20)	0.34	(0.33)	1.00
MLGRX	0.83	0.19	0.18	0.32	0.65	(0.99)	2.52	(1.40)	5.74
MLINX	0.83	0.20	0.18	0.32	0.60	(0.99)	2.55	(1.30)	5.60
MLRTX	0.83	0.20	0.18	0.32	0.61	(1.06)	2.59	(1.26)	5.53
MLRSX	0.77	0.43	0.41	11.90	0.00	(1.01)	2.57	(1.03)	5.60
MLRRX	0.83	0.20	0.19	0.32	0.61	(1.01)	2.61	(1.39)	5.60
MMHEX	0.19	(0.03)	0.00	(0.28)	0.00	0.00	0.45	(0.45)	1.51
MMHVX	0.20	0.01	(0.41)	(0.03)	0.22	(0.27)	0.53	(0.44)	1.97
MMRDX	0.33	0.16	0.04	(2.08)	0.00	(0.39)	1.03	(0.56)	2.50
MNODX	0.17	(0.02)	0.00	(0.27)	0.00	0.00	0.44	(0.33)	1.20

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Mainstay Candriam Correlations

Mainstay Candriam Correlation With Market

Good diversification

Moving together with Mainstay Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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