Mainstay New York Fund Quote
| MNOVX Fund | USD 9.57 0.01 0.10% |
Performance1 of 100
| Odds Of DistressLess than 22
|
Mainstay New is trading at 9.57 as of the 17th of April 2024; that is -0.1 percent decrease since the beginning of the trading day. The fund's open price was 9.58. Mainstay New has about a 22 % chance of experiencing some form of financial distress in the next two years of operation and did not have a very good performance during the last 90 trading days. Equity ratings for Mainstay New York are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 28th of April 2022 and ending today, the 17th of April 2024. Click here to learn more.
The fund, under normal circumstances, invests at least 80 percent of its assets in municipal bonds, whose interest is, in the opinion of bond counsel for the issuers at the time of issuance, exempt from federal and New York income taxes. It generally invests in municipal bonds that have a maturity of five years or longer at the time of purchase.. More on Mainstay New York
Moving together with Mainstay Mutual Fund
| 0.93 | MKINX | Mainstay Tax Free | PairCorr |
| 0.96 | MMHEX | Mainstay Mackay High | PairCorr |
Mainstay Mutual Fund Highlights
Most reasonable investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend. Mainstay New's investment highlights are automatically generated signals that are significant enough to either complement your investing judgment regarding Mainstay New or challenge it. These highlights can help you better understand the position you are entering and avoid costly mistakes.
| Fund Concentration | MainStay Funds, Large Funds, Muni New York Long Funds, Muni New York Long, MainStay, Large, Muni New York Long (View all Sectors) |
| Update Date | 31st of March 2024 |
Mainstay New York [MNOVX] is traded in USA and was established 17th of April 2024. Mainstay New is listed under MainStay category by Fama And French industry classification. The fund is listed under Muni New York Long category and is part of MainStay family. This fund now has accumulated 392.24 M in assets with no minimum investment requirementsMainstay New York is currently producing year-to-date (YTD) return of 0.27% with the current yeild of 0.0%, while the total return for the last 3 years was -1.12%.
Check Mainstay New Probability Of Bankruptcy
Instrument Allocation
Mainstay New Target Price Odds Analysis
Based on a normal probability distribution, the odds of Mainstay New jumping above the current price in 90 days from now is about 89.06%. The Mainstay New York probability density function shows the probability of Mainstay New mutual fund to fall within a particular range of prices over 90 days. Assuming the 90 days horizon Mainstay New has a beta of 0.0557. This indicates as returns on the market go up, Mainstay New average returns are expected to increase less than the benchmark. However, during the bear market, the loss on holding Mainstay New York will be expected to be much smaller as well. Additionally, mainstay New York has a negative alpha, implying that the risk taken by holding this instrument is not justified. The company is significantly underperforming the NYSE Composite.
Based on a normal probability distribution, the odds of Mainstay New to move above the current price in 90 days from now is about 89.06 (This Mainstay New York probability density function shows the probability of Mainstay Mutual Fund to fall within a particular range of prices over 90 days) .
Mainstay New York Risk Profiles
Investors will always prefer to have the highest possible return on investment while minimizing volatility. Mainstay New market risk premium is the additional return an investor will receive from holding Mainstay New long position in a well-diversified portfolio. The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in Mainstay New. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures. Although Mainstay New's alpha and beta are two of the key measurements used to evaluate Mainstay New's performance over the market, the standard measures of volatility play an important role as well.
| Mean Deviation | 0.1528 | |||
| Standard Deviation | 0.2242 | |||
| Variance | 0.0503 | |||
| Risk Adjusted Performance | (0.04) |
Mainstay New Against Markets
Picking the right benchmark for Mainstay New mutual fund is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in Mainstay New mutual fund price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for Mainstay New is critical whether you are bullish or bearish towards Mainstay New York at a given time. Please also check how Mainstay New's historical prices are related to one of the top price index indicators.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Mainstay New without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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| All Next | Launch Module |
How to buy Mainstay Mutual Fund?
Before investing in Mainstay New, you must ensure you fully understand your financial goals and how diversified (or not) your overall investments are now. Then, after you clearly understand your investment objectives, consider investing in Mainstay New. To buy Mainstay New fund, you can follow these steps:- Choose a brokerage firm: You need to select a brokerage firm to buy shares of Mainstay New. Some popular options include Charles Schwab, Fidelity, TD Ameritrade, and Robinhood.
- Open an account: Once you have chosen a brokerage firm, you will need to open an account. You will be required to provide personal information, such as your name, address, and Social Security number.
- Fund your account: You will need to deposit funds into your brokerage account to purchase Mainstay New fund. You can do this by transferring funds from your bank account or other investment accounts.
- Place your order: Once you have located Mainstay New York fund in your brokerage account, you can place your order to buy it. You will need to specify the number of shares you want to buy and the price you are willing to pay.
- Monitor your investment: After you have purchased Mainstay New York fund, you should monitor your investment to track its performance and make informed decisions about buying, selling, or holding the fund
It's important to note that investing in stocks, such as Mainstay New York, carries risks, and you should carefully consider your investment goals and risk tolerance before making any investment decisions. Also, remember various factors, including economic indicators, change in net worth, political events, company-specific news, and investor sentiment, can influence the stock market. These factors can cause fluctuations in fund prices and lead to market volatility affecting your buy or sell decision. However, volatility can also present opportunities for investors to make gains by buying stocks when prices are low and selling when they are high. It's important for investors to have a long-term perspective and a well-diversified portfolio to manage the impact of stock market volatility on their investments.
Already Invested in Mainstay New York?
The danger of trading Mainstay New York is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Mainstay New is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Mainstay New. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Mainstay New York is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mainstay New York. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in real. You can also try the ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.