Mainstay Candriam Correlations

MCYIX Fund

USD 12.10 0.13 1.09%

The current 90-days correlation between Mainstay Candriam and Glg Intl Small is 0.42 (i.e., Very weak 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

Modest diversification

The correlation between Mainstay Candriam Emerging and DJI is 0.2 (i.e., Modest 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 gross domestic product.

Moving together with Mainstay Mutual Fund

0.98	VEMAX	Vanguard Emerging Markets	Pair Corr
0.98	VEIEX	Vanguard Emerging Markets	Pair Corr
0.98	VEMIX	Vanguard Emerging Markets	Pair Corr
0.98	VEMRX	Vanguard Emerging Markets	Pair Corr
0.98	FWWNX	American Funds New	Pair Corr
0.98	FNFWX	American Funds New	Pair Corr
0.98	NEWFX	New World Fund	Pair Corr
0.98	NWFFX	New World Fund	Pair Corr
0.98	NEWCX	New World Fund	Pair Corr
0.98	ODVYX	Oppenheimer Developing	Pair Corr
0.98	SMPIX	Semiconductor Ultrasector	Pair Corr
0.98	SMPSX	Semiconductor Ultrasector	Pair Corr
0.96	RSNRX	Victory Global Natural	Pair Corr
0.72	EMO	Clearbridge Energy Mlp	Pair Corr
0.96	RSNYX	Victory Global Natural	Pair Corr
0.96	RGNCX	Victory Global Natural	Pair Corr
0.61	JPM	JPMorgan Chase	Pair Corr
0.63	CAT	Caterpillar	Pair Corr
0.61	CSCO	Cisco Systems	Pair Corr

Moving against Mainstay Mutual Fund

0.66	MCD	McDonalds	Pair Corr
0.45	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	GLVIX	QSERX	NESGX	PLHHX	BOSVX	VSTCX
GLVIX		0.96	0.96	0.56	0.59	0.56	GLVIX
QSERX	0.96		0.99	0.59	0.65	0.61	QSERX
NESGX	0.96	0.99		0.53	0.6	0.55	NESGX
PLHHX	0.56	0.59	0.53		0.97	0.99	PLHHX
BOSVX	0.59	0.65	0.6	0.97		0.99	BOSVX
VSTCX	0.56	0.61	0.55	0.99	0.99		VSTCX
	GLVIX	QSERX	NESGX	PLHHX	BOSVX	VSTCX

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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
GLVIX	0.66	0.07	0.01	0.32	0.32	(0.79)	1.99	(0.93)	5.76
QSERX	0.80	0.05	0.02	0.26	0.76	(0.88)	2.01	(1.54)	5.30
NESGX	1.19	0.21	0.16	0.41	0.86	(1.49)	3.06	(1.84)	9.09
PLHHX	0.53	0.09	0.06	0.32	0.17	(0.64)	1.70	(0.89)	4.09
BOSVX	1.00	0.07	0.09	0.27	0.81	(1.19)	2.42	(1.78)	6.40
VSTCX	0.89	0.05	0.09	0.25	0.80	(1.05)	2.35	(1.96)	6.40

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