Mainstay Candriam Correlations

Mutual Funds . USA . 
Fund . Mainstay Candriam Emerging
MCYCX Fund  USD 11.47  0.08  0.70%   
The current 90-days correlation between Mainstay Candriam and Mainstay Tax Free is -0.01 (i.e., Good 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

Weak diversification

The correlation between Mainstay Candriam Emerging and DJI is 0.33 (i.e., Weak 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 main economic indicators.

Moving together with Mainstay Mutual Fund

  0.67MKINX Mainstay Tax FreePairCorr
  0.97MLGRX Mainstay Large CapPairCorr
  0.97MLINX Mainstay Large CapPairCorr
  0.97MLRTX Mainstay Large CapPairCorr
  0.97MLRSX Mainstay Large CapPairCorr
  0.97MLRRX Mainstay Large CapPairCorr
  0.97MMRDX Mainstay ModeratePairCorr
  0.97EPLIX Mainstay Epoch EquityPairCorr
  0.97EPLDX Mainstay Epoch EquityPairCorr
  0.98EPSRX Mainstay Epoch GlobalPairCorr
  0.98EPSIX Mainstay Epoch GlobalPairCorr
  0.94MOINX Mainstay Epoch SmallPairCorr
  0.85VCRVX Mainstay Cbre GlobalPairCorr
  0.85VCRQX Mainstay Cbre GlobalPairCorr
  0.96MSMIX Mainstay Map EquityPairCorr
  0.62MSODX Mainstay Mackay CaliPairCorr
  0.97MBERX Mainstay BalancedPairCorr
  0.94MSYEX Mainstay Mackay UncoPairCorr
  0.97MBINX Mainstay BalancedPairCorr
  0.94ICELX Mainstay Epoch InterPairCorr
  0.7MTBDX Mainstay Mackay TaxPairCorr
  0.9MTFEX Mainstay Mackay StrategicPairCorr
  0.9MTFDX Mainstay Mackay StrategicPairCorr
  0.91MTFFX Mainstay Mackay StrategicPairCorr
  0.98MTINX Mainstay Income BuilderPairCorr
  0.76MTMNX Mainstay Total ReturnPairCorr
  0.98MTODX Mainstay Income BuilderPairCorr
  0.79MTRDX Mainstay Total ReturnPairCorr
  0.97KLGNX Mainstay Nerstone GrowthPairCorr
  0.98MCINX Mainstay ConvertiblePairCorr
  0.98MCKNX Mainstay ConservativePairCorr
  1.0MCYAX Mainstay CandriamPairCorr
  1.0MCYIX Mainstay CandriamPairCorr
  1.0MCYSX Mainstay CandriamPairCorr

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 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum 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  0.83  0.20  0.19  0.33  0.62 
(0.99)
 2.57 
(1.34)
 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  0.19 (0.03) 0.00 (0.29) 0.00 
 0.00 
 0.45 
(0.44)
 1.51 
MMRDX  0.35  0.07  0.00  0.27  0.25 
(0.38)
 1.03 
(0.84)
 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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