Mainstay Candriam Emerging Fund Market Value
| MCYAX Fund | USD 10.36 0.04 0.39% |
| Symbol | Mainstay |
Mainstay Candriam '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 Candriam'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 Candriam.
| 08/26/2024 |
| 11/24/2024 |
If you would invest 0.00 in Mainstay Candriam on August 26, 2024 and sell it all today you would earn a total of 0.00 from holding Mainstay Candriam Emerging or generate 0.0% return on investment in Mainstay Candriam over 90 days. Mainstay Candriam is related to or competes with Mainstay Tax, Mainstay Large, Mainstay Large, Mainstay Large, Mainstay Large, Mainstay Large, and Mainstay Mackay. Under normal circumstances, the fund invests at least 80 percent of its assets in equity securities or equity-related se... More
Mainstay Candriam 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 Candriam'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 Candriam Emerging upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8941 | |||
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 4.53 | |||
| Value At Risk | (1.41) | |||
| Potential Upside | 1.19 |
Mainstay Candriam Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mainstay Candriam's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mainstay Candriam's standard deviation. In reality, there are many statistical measures that can use Mainstay Candriam historical prices to predict the future Mainstay Candriam's volatility.| Risk Adjusted Performance | 0.0161 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.13) | |||
| Sortino Ratio | (0.13) | |||
| Treynor Ratio | 0.0268 |
Mainstay Candriam Backtested Returns
At this stage we consider Mainstay Mutual Fund to be very steady. Mainstay Candriam has Sharpe Ratio of 0.0281, which conveys that the entity had a 0.0281% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Mainstay Candriam, which you can use to evaluate the volatility of the fund. Please verify Mainstay Candriam's Mean Deviation of 0.6778, risk adjusted performance of 0.0161, and Downside Deviation of 0.8941 to check out if the risk estimate we provide is consistent with the expected return of 0.0248%. The fund secures a Beta (Market Risk) of 0.26, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Mainstay Candriam's returns are expected to increase less than the market. However, during the bear market, the loss of holding Mainstay Candriam is expected to be smaller as well.
Auto-correlation | -0.89 |
Excellent reverse predictability
Mainstay Candriam Emerging has excellent reverse predictability. Overlapping area represents the amount of predictability between Mainstay Candriam time series from 26th of August 2024 to 10th of October 2024 and 10th of October 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 Candriam price movement. The serial correlation of -0.89 indicates that approximately 89.0% of current Mainstay Candriam price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.89 | |
| Spearman Rank Test | -0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
Mainstay Candriam lagged returns against current returns
Autocorrelation, which is Mainstay Candriam 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 Candriam's mutual fund expected returns. We can calculate the autocorrelation of Mainstay Candriam returns to help us make a trade decision. For example, suppose you find that Mainstay Candriam 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 Candriam 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 Candriam mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mainstay Candriam 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 Candriam mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Mainstay Candriam Lagged Returns
When evaluating Mainstay Candriam's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mainstay Candriam mutual fund have on its future price. Mainstay Candriam 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 Candriam autocorrelation shows the relationship between Mainstay Candriam mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Mainstay Candriam Emerging.
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 Candriam 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 Candriam security.
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