Mainstay Short Correlations

Mutual Funds USA . 
Fund . Mainstay Short Duration
MDHVX Fund  USD 9.53  0.01  0.11%   
The current 90-days correlation between Mainstay Short Duration and Mainstay Tax Free is 0.24 (i.e., Modest diversification). The correlation of Mainstay Short 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 Short Correlation With Market

Poor diversification

The correlation between Mainstay Short Duration and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Short Duration 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 Short Duration. 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 real.

Moving together with Mainstay Mutual Fund

  0.74MLGRX Mainstay Large CapPairCorr
  0.74MLINX Mainstay Large CapPairCorr
  0.74MLRTX Mainstay Large CapPairCorr
  0.98MLRSX Mainstay Large CapPairCorr
  0.74MLRRX Mainstay Large CapPairCorr
  0.98MMRDX Mainstay ModeratePairCorr
  0.97EPLIX Mainstay Epoch EquityPairCorr
  0.98EPLDX Mainstay Epoch EquityPairCorr
  0.99EPSRX Mainstay Epoch GlobalPairCorr
  0.99EPSIX Mainstay Epoch GlobalPairCorr
  0.94MOINX Mainstay Epoch SmallPairCorr
  0.85VCRVX Mainstay Cbre GlobalPairCorr
  0.86VCRQX Mainstay Cbre GlobalPairCorr
  0.95MSMIX Mainstay Map EquityPairCorr
  0.63MSODX Mainstay Mackay CaliPairCorr
  0.98MBERX Mainstay BalancedPairCorr
  0.95MSYEX Mainstay Mackay UncoPairCorr
  0.98MBINX Mainstay BalancedPairCorr
  0.7MTBDX Mainstay Mackay TaxPairCorr
  0.9MTFEX Mainstay Mackay StrategicPairCorr
  0.91MTFDX Mainstay Mackay StrategicPairCorr
  0.92MTFFX Mainstay Mackay StrategicPairCorr
  0.97MTINX Mainstay Income BuilderPairCorr
  0.99MTODX Mainstay Income BuilderPairCorr
  0.81MTRDX Mainstay Total ReturnPairCorr
  0.96KLGNX Mainstay Nerstone GrowthPairCorr
  0.97MCINX Mainstay ConvertiblePairCorr
  0.98MCKNX Mainstay ConservativePairCorr
  0.98MCYAX Mainstay CandriamPairCorr
  0.98MCYCX Mainstay CandriamPairCorr
  0.98MCYIX Mainstay CandriamPairCorr
  0.98MCYSX Mainstay CandriamPairCorr
  0.98MCYVX Mainstay CandriamPairCorr
  0.98MXFEX Mainstay Floating RatePairCorr
  0.96MGDNX Mainstay Moderate GrowthPairCorr
  0.97MGHHX Mainstay Emerging MarketsPairCorr

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 Short 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 Short'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  0.13 (0.01)(0.58) 0.01  0.10 
(0.21)
 0.34 
(0.33)
 1.00 
MLGRX  0.77  0.42  0.39  10.90  0.00 
(0.99)
 2.52 
(0.94)
 5.74 
MLINX  0.78  0.33  0.39  0.54  0.00 
(1.01)
 2.55 
(1.03)
 5.60 
MLRTX  0.78  0.43  0.39  123.02  0.00 
(1.06)
 2.59 
(1.11)
 5.53 
MLRSX  0.83  0.20  0.19  0.33  0.62 
(0.99)
 2.57 
(1.34)
 5.60 
MLRRX  0.78  0.43  0.39  10.96  0.00 
(1.01)
 2.61 
(1.03)
 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  0.35  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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