Mainstay Epoch Equity Fund Market Value
| EPLPX Fund | USD 20.64 0.07 0.34% |
| Symbol | Mainstay |
Mainstay Epoch '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 Epoch'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 Epoch.
| 03/25/2024 |
| 04/24/2024 |
If you would invest 0.00 in Mainstay Epoch on March 25, 2024 and sell it all today you would earn a total of 0.00 from holding Mainstay Epoch Equity or generate 0.0% return on investment in Mainstay Epoch over 30 days. Mainstay Epoch is related to or competes with Edgewood Growth, Hartford Schroders, HUMANA, Morningstar Unconstrained, High Yield, Thrivent High, and Via Renewables. The fund generally invests in a diversified portfolio consisting of equity securities of U.S More
Mainstay Epoch 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 Epoch'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 Epoch Equity upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6593 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 3.38 | |||
| Value At Risk | (1.06) | |||
| Potential Upside | 0.9819 |
Mainstay Epoch Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mainstay Epoch's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mainstay Epoch's standard deviation. In reality, there are many statistical measures that can use Mainstay Epoch historical prices to predict the future Mainstay Epoch's volatility.| Risk Adjusted Performance | 0.0843 | |||
| Jensen Alpha | 0.0689 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 1.38 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Mainstay Epoch'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 Epoch Equity Backtested Returns
We consider Mainstay Epoch very steady. Mainstay Epoch Equity 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. We have found twenty-eight technical indicators for Mainstay Epoch, which you can use to evaluate the volatility of the fund. Please verify Mainstay Epoch's Downside Deviation of 0.6593, mean deviation of 0.4671, and Risk Adjusted Performance of 0.0843 to check out if the risk estimate we provide is consistent with the expected return of 0.0743%. The fund secures a Beta (Market Risk) of 0.0532, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Mainstay Epoch's returns are expected to increase less than the market. However, during the bear market, the loss of holding Mainstay Epoch is expected to be smaller as well.
Auto-correlation | -0.11 |
Insignificant reverse predictability
Mainstay Epoch Equity has insignificant reverse predictability. Overlapping area represents the amount of predictability between Mainstay Epoch time series from 25th of March 2024 to 9th of April 2024 and 9th of April 2024 to 24th of April 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 Epoch Equity price movement. The serial correlation of -0.11 indicates that less than 11.0% of current Mainstay Epoch price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.11 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
Mainstay Epoch Equity lagged returns against current returns
Autocorrelation, which is Mainstay Epoch 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 Epoch's mutual fund expected returns. We can calculate the autocorrelation of Mainstay Epoch returns to help us make a trade decision. For example, suppose you find that Mainstay Epoch 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 Epoch 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 Epoch mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mainstay Epoch 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 Epoch mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Mainstay Epoch Lagged Returns
When evaluating Mainstay Epoch's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mainstay Epoch mutual fund have on its future price. Mainstay Epoch 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 Epoch autocorrelation shows the relationship between Mainstay Epoch mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Mainstay Epoch Equity.
Regressed Prices |
| Timeline |
Pair Trading with Mainstay Epoch
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Mainstay Epoch position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Mainstay Epoch will appreciate offsetting losses from the drop in the long position's value.Moving together with Mainstay Mutual Fund
| 0.93 | MKHCX | Mainstay High Yield | PairCorr |
| 0.89 | MKTRX | Mainstay Me Builder | PairCorr |
| 0.83 | MLACX | Mainstay Large Cap | PairCorr |
| 0.8 | MLABX | Mainstay Large Cap | PairCorr |
The ability to find closely correlated positions to Mainstay Epoch could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mainstay Epoch when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Mainstay Epoch - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Mainstay Epoch Equity to buy it.
The correlation of Mainstay Epoch is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Mainstay Epoch moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mainstay Epoch Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Mainstay Epoch can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Mainstay Epoch Correlation, Mainstay Epoch Volatility and Mainstay Epoch Alpha and Beta module to complement your research on Mainstay Epoch. You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Mainstay Epoch technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.