Mainstay High Correlations

MHYRX Fund

USD 5.24 0.01 0.19%

The current 90-days correlation between Mainstay High Yield and Rbc Funds Trust is 0.08 (i.e., Significant diversification). The correlation of Mainstay High 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 High Correlation With Market

Good diversification

The correlation between Mainstay High Yield and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay High Yield 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 High Yield. 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 metropolitan statistical area.

Moving together with Mainstay Mutual Fund

0.96	MLGRX	Mainstay Large Cap	Pair Corr
0.97	MLINX	Mainstay Large Cap	Pair Corr
0.97	MLRTX	Mainstay Large Cap	Pair Corr
0.97	MMRDX	Mainstay Moderate	Pair Corr
0.97	EPLIX	Mainstay Epoch Equity	Pair Corr
0.98	EPLDX	Mainstay Epoch Equity	Pair Corr
0.98	EPSRX	Mainstay Epoch Global	Pair Corr
0.98	EPSIX	Mainstay Epoch Global	Pair Corr
0.95	MOINX	Mainstay Epoch Small	Pair Corr
0.96	MSMIX	Mainstay Map Equity	Pair Corr
0.93	ICELX	Mainstay Epoch Inter	Pair Corr
0.63	MTBDX	Mainstay Mackay Tax	Pair Corr
0.89	MTFEX	Mainstay Mackay Strategic	Pair Corr
0.91	MTFHX	Mainstay Mackay Strategic	Pair Corr
0.98	MTINX	Mainstay Income Builder	Pair Corr
0.79	MTMNX	Mainstay Total Return	Pair Corr
0.97	MCINX	Mainstay Convertible	Pair Corr
0.98	MCKNX	Mainstay Conservative	Pair Corr
0.93	MECVX	Mainstay Epoch Capital	Pair Corr
0.97	MGDNX	Mainstay Moderate Growth	Pair Corr
0.96	MGXNX	Mainstay Growth Allo	Pair Corr
0.98	MYSPX	Mainstay Sp 500	Pair Corr
1.0	MHHIX	Mainstay High Yield	Pair Corr
0.99	MHYSX	Mainstay High Yield	Pair Corr
0.98	VWEAX	Vanguard High Yield	Pair Corr
0.99	VWEHX	Vanguard High Yield	Pair Corr
0.99	BHYCX	Blackrock Hi Yld	Pair Corr
0.99	BHYIX	Blackrock High Yield	Pair Corr
0.99	BHYSX	Blackrock Hi Yld	Pair Corr
0.98	BHYAX	Blackrock High Yield	Pair Corr
0.97	FAHHX	American Funds American	Pair Corr
0.97	FTAHX	American Funds American	Pair Corr
0.98	AHTFX	American High Income	Pair Corr
0.98	AHTCX	American High Income	Pair Corr

Moving against Mainstay Mutual Fund

0.94	USPSX	Profunds Ultrashort Potential Growth	Pair Corr
0.94	USPIX	Profunds Ultrashort Potential Growth	Pair Corr
0.92	UIPIX	Ultrashort Mid Cap	Pair Corr
0.79	TCSUX	Cleartrack 2020 Class	Pair Corr
0.78	TCTGX	Transamerica Cleartrack	Pair Corr
0.78	TCTJX	Transamerica Cleartrack	Pair Corr
0.77	TDKTX	Cleartrack 2015 Class	Pair Corr

Related Correlations Analysis

	TUGXX	INGXX	OWCAX	PCMNX	CSIBX	ANAGX	ABNTX
TUGXX		0.8	0.59	0.7	0.46	0.47	0.36	TUGXX
INGXX	0.8		0.65	0.74	0.4	0.44	0.29	INGXX
OWCAX	0.59	0.65		0.95	0.88	0.82	0.81	OWCAX
PCMNX	0.7	0.74	0.95		0.83	0.79	0.67	PCMNX
CSIBX	0.46	0.4	0.88	0.83		0.95	0.8	CSIBX
ANAGX	0.47	0.44	0.82	0.79	0.95		0.69	ANAGX
ABNTX	0.36	0.29	0.81	0.67	0.8	0.69		ABNTX
	TUGXX	INGXX	OWCAX	PCMNX	CSIBX	ANAGX	ABNTX

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay High 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 High'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
TUGXX	0.03	0.01	0.00	4.08	0.00	0.00	0.00	0.00	1.01
INGXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01
OWCAX	0.08	0.02	(1.12)	7.05	0.00	(0.12)	0.21	(0.11)	0.53
PCMNX	0.11	0.01	(1.04)	(0.95)	0.00	(0.14)	0.25	(0.17)	0.59
CSIBX	0.24	0.02	(0.60)	1.45	0.19	(0.29)	0.49	(0.42)	1.25
ANAGX	0.16	0.02	(0.84)	(2.98)	0.07	(0.20)	0.29	(0.29)	0.73
ABNTX	0.14	0.02	(0.72)	(1.81)	0.05	(0.17)	0.29	(0.29)	1.08

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