Mainstay Emerging Correlations

Mutual Funds . USA . 
Fund . Mainstay Emerging Markets
MGHHX Fund  USD 7.92  0.02  0.25%   
The current 90-days correlation between Mainstay Emerging Markets and Mainstay Tax Free is 0.16 (i.e., Average diversification). The correlation of Mainstay Emerging 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 Emerging Correlation With Market

Very weak diversification

The correlation between Mainstay Emerging Markets and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Emerging Markets 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 Emerging Markets. 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 rate.

Moving together with Mainstay Mutual Fund

  0.63MKINX Mainstay Tax FreePairCorr
  0.66MLGRX Mainstay Large CapPairCorr
  0.66MLINX Mainstay Large CapPairCorr
  0.66MLRTX Mainstay Large CapPairCorr
  0.94MLRSX Mainstay Large CapPairCorr
  0.71MLRRX Mainstay Large CapPairCorr
  0.95MMRDX Mainstay ModeratePairCorr
  0.96EPLIX Mainstay Epoch EquityPairCorr
  0.96EPLDX Mainstay Epoch EquityPairCorr
  0.96EPSRX Mainstay Epoch GlobalPairCorr
  0.96EPSIX Mainstay Epoch GlobalPairCorr
  0.93MOINX Mainstay Epoch SmallPairCorr
  0.82VCRVX Mainstay Cbre GlobalPairCorr
  0.83VCRQX Mainstay Cbre GlobalPairCorr
  0.66MSMIX Mainstay Map EquityPairCorr
  0.62MSODX Mainstay Mackay CaliPairCorr
  0.96MBERX Mainstay BalancedPairCorr
  0.98MSYEX Mainstay Mackay UncoPairCorr
  0.7MSYDX Mainstay UnconstrainedPairCorr
  0.96MBINX Mainstay BalancedPairCorr
  0.92ICELX Mainstay Epoch InterPairCorr
  0.71MTBDX Mainstay Mackay TaxPairCorr
  0.89MTFEX Mainstay Mackay StrategicPairCorr
  0.9MTFDX Mainstay Mackay StrategicPairCorr
  0.77MTFHX Mainstay Mackay StrategicPairCorr
  0.78MTFFX Mainstay Mackay StrategicPairCorr
  0.68MTINX Mainstay Income BuilderPairCorr
  0.86MTMNX Mainstay Total ReturnPairCorr
  0.97MTODX Mainstay Income BuilderPairCorr
  0.88MTRDX Mainstay Total ReturnPairCorr
  0.94KLGNX Mainstay Nerstone GrowthPairCorr
  0.63MCINX Mainstay ConvertiblePairCorr
  0.96MCKNX Mainstay ConservativePairCorr
  0.97MCYAX 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 Emerging 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 Emerging'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)(0.56) 0.05  0.07 
(0.21)
 0.34 
(0.33)
 1.00 
MLGRX  0.74  0.37  0.34  2.20  0.00 
(0.94)
 2.31 
(0.94)
 5.74 
MLINX  0.75  0.37  0.33  2.28  0.00 
(0.96)
 2.21 
(1.03)
 5.60 
MLRTX  0.74  0.38  0.34  3.30  0.00 
(1.01)
 2.14 
(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  0.19 (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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