Mainstay Pinestone International Fund Market Value
| FCICX Fund | 16.28 0.12 0.74% |
| Symbol | Mainstay |
Mainstay Pinestone 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Mainstay Pinestone's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Mainstay Pinestone.
| 05/04/2023 |
| 11/24/2024 |
If you would invest 0.00 in Mainstay Pinestone on May 4, 2023 and sell it all today you would earn a total of 0.00 from holding Mainstay Pinestone International or generate 0.0% return on investment in Mainstay Pinestone over 570 days. Mainstay Pinestone is related to or competes with Mainstay High, Mainstay Tax, Mainstay Income, Mainstay Large, Mainstay Large, Mainstay Large, and Mainstay Large. The funds subadvisor, seeks to achieve the funds investment objective by investing in a portfolio of international equit... More
Mainstay Pinestone Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Mainstay Pinestone's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Mainstay Pinestone International upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.25) | |||
| Maximum Drawdown | 4.2 | |||
| Value At Risk | (1.57) | |||
| Potential Upside | 1.24 |
Mainstay Pinestone Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mainstay Pinestone's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mainstay Pinestone's standard deviation. In reality, there are many statistical measures that can use Mainstay Pinestone historical prices to predict the future Mainstay Pinestone's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.23) | |||
| Treynor Ratio | (0.21) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Mainstay Pinestone's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Mainstay Pinestone Backtested Returns
Mainstay Pinestone has Sharpe Ratio of -0.12, which conveys that the entity had a -0.12% return per unit of risk over the last 3 months. Mainstay Pinestone exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Mainstay Pinestone's Risk Adjusted Performance of (0.08), mean deviation of 0.6613, and Standard Deviation of 0.851 to check out the risk estimate we provide. The fund secures a Beta (Market Risk) of 0.45, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Mainstay Pinestone's returns are expected to increase less than the market. However, during the bear market, the loss of holding Mainstay Pinestone is expected to be smaller as well.
Auto-correlation | 0.58 |
Modest predictability
Mainstay Pinestone International has modest predictability. Overlapping area represents the amount of predictability between Mainstay Pinestone time series from 4th of May 2023 to 13th of February 2024 and 13th of February 2024 to 24th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Mainstay Pinestone price movement. The serial correlation of 0.58 indicates that roughly 58.0% of current Mainstay Pinestone price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.58 | |
| Spearman Rank Test | 0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 0.14 |
Mainstay Pinestone lagged returns against current returns
Autocorrelation, which is Mainstay Pinestone mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Mainstay Pinestone's mutual fund expected returns. We can calculate the autocorrelation of Mainstay Pinestone returns to help us make a trade decision. For example, suppose you find that Mainstay Pinestone has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Mainstay Pinestone regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Mainstay Pinestone mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mainstay Pinestone mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Mainstay Pinestone mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Mainstay Pinestone Lagged Returns
When evaluating Mainstay Pinestone's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mainstay Pinestone mutual fund have on its future price. Mainstay Pinestone autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Mainstay Pinestone autocorrelation shows the relationship between Mainstay Pinestone mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Mainstay Pinestone International.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Mainstay Mutual Fund
Mainstay Pinestone financial ratios help investors to determine whether Mainstay Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Mainstay with respect to the benefits of owning Mainstay Pinestone security.
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