Mainstay New York Fund Market Value
| MNOCX Fund | USD 9.69 0.02 0.21% |
| Symbol | Mainstay |
Mainstay New '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 New'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 New.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in Mainstay New on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding Mainstay New York or generate 0.0% return on investment in Mainstay New over 720 days. Mainstay New is related to or competes with Mainstay High, Mainstay Tax, Mainstay Income, Mainstay Large, Mainstay Large, Mainstay Large, and Mainstay Large. The fund, under normal circumstances, invests at least 80 percent of its assets in municipal bonds, whose interest is, i... More
Mainstay New 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 New'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 New York upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4197 | |||
| Information Ratio | (0.46) | |||
| Maximum Drawdown | 1.76 | |||
| Value At Risk | (0.41) | |||
| Potential Upside | 0.3125 |
Mainstay New Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mainstay New's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mainstay New's standard deviation. In reality, there are many statistical measures that can use Mainstay New historical prices to predict the future Mainstay New's volatility.| Risk Adjusted Performance | 5.0E-4 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | (0.30) | |||
| Treynor Ratio | (0.05) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Mainstay New'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 New York Backtested Returns
At this stage we consider Mainstay Mutual Fund to be very steady. Mainstay New York has Sharpe Ratio of 0.0304, which conveys that the entity had a 0.0304% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Mainstay New, which you can use to evaluate the volatility of the fund. Please verify Mainstay New's Downside Deviation of 0.4197, risk adjusted performance of 5.0E-4, and Mean Deviation of 0.1586 to check out if the risk estimate we provide is consistent with the expected return of 0.0083%. The fund secures a Beta (Market Risk) of 0.0625, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Mainstay New's returns are expected to increase less than the market. However, during the bear market, the loss of holding Mainstay New is expected to be smaller as well.
Auto-correlation | -0.45 |
Modest reverse predictability
Mainstay New York has modest reverse predictability. Overlapping area represents the amount of predictability between Mainstay New time series from 5th of December 2022 to 30th of November 2023 and 30th of November 2023 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 New York price movement. The serial correlation of -0.45 indicates that just about 45.0% of current Mainstay New price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.45 | |
| Spearman Rank Test | -0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Mainstay New York lagged returns against current returns
Autocorrelation, which is Mainstay New 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 New's mutual fund expected returns. We can calculate the autocorrelation of Mainstay New returns to help us make a trade decision. For example, suppose you find that Mainstay New 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 New 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 New mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mainstay New 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 New mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Mainstay New Lagged Returns
When evaluating Mainstay New's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mainstay New mutual fund have on its future price. Mainstay New 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 New autocorrelation shows the relationship between Mainstay New mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Mainstay New York.
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 New 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 New security.
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