Mainstay Short Duration Fund Market Value
| MDHCX Fund | USD 9.59 0.01 0.10% |
| Symbol | Mainstay |
Mainstay Short '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 Short'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 Short.
| 08/29/2024 |
| 11/27/2024 |
If you would invest 0.00 in Mainstay Short on August 29, 2024 and sell it all today you would earn a total of 0.00 from holding Mainstay Short Duration or generate 0.0% return on investment in Mainstay Short over 90 days. Mainstay Short is related to or competes with Rational/pier, Lord Abbett, Putnam Convertible, Gabelli Convertible, Advent Claymore, and Calamos Dynamic. The fund, under normal circumstances, invests at least 80 percent of its assets in high-yield debt securities that are r... More
Mainstay Short 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 Short'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 Short Duration upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.1339 | |||
| Information Ratio | (1.24) | |||
| Maximum Drawdown | 0.4197 | |||
| Value At Risk | (0.10) | |||
| Potential Upside | 0.1056 |
Mainstay Short Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mainstay Short's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mainstay Short's standard deviation. In reality, there are many statistical measures that can use Mainstay Short historical prices to predict the future Mainstay Short's volatility.| Risk Adjusted Performance | 0.0781 | |||
| Jensen Alpha | 0.0086 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.84) | |||
| Treynor Ratio | (1.79) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Mainstay Short'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 Short Duration Backtested Returns
At this stage we consider Mainstay Mutual Fund to be very steady. Mainstay Short Duration has Sharpe Ratio of 0.2, which conveys that the entity had a 0.2% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Mainstay Short, which you can use to evaluate the volatility of the fund. Please verify Mainstay Short's Mean Deviation of 0.0695, coefficient of variation of 501.39, and Risk Adjusted Performance of 0.0781 to check out if the risk estimate we provide is consistent with the expected return of 0.0181%. The fund secures a Beta (Market Risk) of -0.0045, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Mainstay Short are expected to decrease at a much lower rate. During the bear market, Mainstay Short is likely to outperform the market.
Auto-correlation | 0.68 |
Good predictability
Mainstay Short Duration has good predictability. Overlapping area represents the amount of predictability between Mainstay Short time series from 29th of August 2024 to 13th of October 2024 and 13th of October 2024 to 27th 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 Short Duration price movement. The serial correlation of 0.68 indicates that around 68.0% of current Mainstay Short price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.68 | |
| Spearman Rank Test | 0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Mainstay Short Duration lagged returns against current returns
Autocorrelation, which is Mainstay Short 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 Short's mutual fund expected returns. We can calculate the autocorrelation of Mainstay Short returns to help us make a trade decision. For example, suppose you find that Mainstay Short 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 Short 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 Short mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mainstay Short 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 Short mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Mainstay Short Lagged Returns
When evaluating Mainstay Short's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mainstay Short mutual fund have on its future price. Mainstay Short 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 Short autocorrelation shows the relationship between Mainstay Short mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Mainstay Short Duration.
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 Short 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 Short security.
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