Mainstay Floating Rate Fund Market Value
| MXFIX Fund | USD 8.90 0.00 0.00% |
| Symbol | Mainstay |
Mainstay Floating '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 Floating'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 Floating.
| 10/10/2023 |
| 12/03/2024 |
If you would invest 0.00 in Mainstay Floating on October 10, 2023 and sell it all today you would earn a total of 0.00 from holding Mainstay Floating Rate or generate 0.0% return on investment in Mainstay Floating over 420 days. Mainstay Floating is related to or competes with California Bond, Maryland Tax-free, Artisan High, and Ab Impact. The fund invests at least 80 percent of its assets in a portfolio of floating rate loans and other floating rate debt se... More
Mainstay Floating 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 Floating'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 Floating Rate upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.65) | |||
| Maximum Drawdown | 0.8047 | |||
| Value At Risk | (0.11) | |||
| Potential Upside | 0.1144 |
Mainstay Floating Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mainstay Floating's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mainstay Floating's standard deviation. In reality, there are many statistical measures that can use Mainstay Floating historical prices to predict the future Mainstay Floating's volatility.| Risk Adjusted Performance | 0.1575 | |||
| Jensen Alpha | 0.0257 | |||
| Total Risk Alpha | 0.0059 | |||
| Treynor Ratio | 5.36 |
Mainstay Floating Rate Backtested Returns
At this stage we consider Mainstay Mutual Fund to be very steady. Mainstay Floating Rate has Sharpe Ratio of 0.26, which conveys that the entity had a 0.26% return per unit of risk over the last 3 months. We have found eighteen technical indicators for Mainstay Floating, which you can use to evaluate the volatility of the fund. Please verify Mainstay Floating's Standard Deviation of 0.1361, mean deviation of 0.0731, and Risk Adjusted Performance of 0.1575 to check out if the risk estimate we provide is consistent with the expected return of 0.0289%. The fund secures a Beta (Market Risk) of 0.0049, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Mainstay Floating's returns are expected to increase less than the market. However, during the bear market, the loss of holding Mainstay Floating is expected to be smaller as well.
Auto-correlation | 0.96 |
Excellent predictability
Mainstay Floating Rate has excellent predictability. Overlapping area represents the amount of predictability between Mainstay Floating time series from 10th of October 2023 to 7th of May 2024 and 7th of May 2024 to 3rd of December 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 Floating Rate price movement. The serial correlation of 0.96 indicates that 96.0% of current Mainstay Floating price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.96 | |
| Spearman Rank Test | 0.98 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Mainstay Floating Rate lagged returns against current returns
Autocorrelation, which is Mainstay Floating 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 Floating's mutual fund expected returns. We can calculate the autocorrelation of Mainstay Floating returns to help us make a trade decision. For example, suppose you find that Mainstay Floating 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 Floating 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 Floating mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mainstay Floating 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 Floating mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Mainstay Floating Lagged Returns
When evaluating Mainstay Floating's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mainstay Floating mutual fund have on its future price. Mainstay Floating 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 Floating autocorrelation shows the relationship between Mainstay Floating mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Mainstay Floating Rate.
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 Floating 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 Floating security.
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |