Mainstay Tax Free Fund Market Value
| MKINX Fund | USD 9.35 0.02 0.21% |
| Symbol | Mainstay |
Mainstay Tax '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 Tax'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 Tax.
| 03/24/2024 |
| 04/23/2024 |
If you would invest 0.00 in Mainstay Tax on March 24, 2024 and sell it all today you would earn a total of 0.00 from holding Mainstay Tax Free or generate 0.0% return on investment in Mainstay Tax over 30 days. Mainstay Tax is related to or competes with Mainstay Large, Mainstay Large, Mainstay Large, Mainstay Large, Mainstay Large, Mainstay Mackay, and Mainstay High. The fund, under normal circumstances, invests at least 80 percent of its assets in municipal bonds that are rated invest... More
Mainstay Tax 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 Tax'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 Tax Free upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.48) | |||
| Maximum Drawdown | 1.27 | |||
| Value At Risk | (0.32) | |||
| Potential Upside | 0.2139 |
Mainstay Tax Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mainstay Tax's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mainstay Tax's standard deviation. In reality, there are many statistical measures that can use Mainstay Tax historical prices to predict the future Mainstay Tax's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.05) | |||
| Treynor Ratio | 1.14 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Mainstay Tax'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 Tax Free Backtested Returns
We consider Mainstay Tax very steady. Mainstay Tax Free has Sharpe Ratio of 0.0095, which conveys that the entity had a 0.0095% return per unit of risk over the last 3 months. We have found twenty-one technical indicators for Mainstay Tax, which you can use to evaluate the volatility of the fund. Please verify Mainstay Tax's Standard Deviation of 0.2062, mean deviation of 0.1415, and Risk Adjusted Performance of (0.05) to check out if the risk estimate we provide is consistent with the expected return of 0.0019%. The fund secures a Beta (Market Risk) of -0.0171, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Mainstay Tax are expected to decrease at a much lower rate. During the bear market, Mainstay Tax is likely to outperform the market.
Auto-correlation | 0.63 |
Good predictability
Mainstay Tax Free has good predictability. Overlapping area represents the amount of predictability between Mainstay Tax time series from 24th of March 2024 to 8th of April 2024 and 8th of April 2024 to 23rd 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 Tax Free price movement. The serial correlation of 0.63 indicates that roughly 63.0% of current Mainstay Tax price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.63 | |
| Spearman Rank Test | 0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Mainstay Tax Free lagged returns against current returns
Autocorrelation, which is Mainstay Tax 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 Tax's mutual fund expected returns. We can calculate the autocorrelation of Mainstay Tax returns to help us make a trade decision. For example, suppose you find that Mainstay Tax 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 Tax 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 Tax mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mainstay Tax 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 Tax mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Mainstay Tax Lagged Returns
When evaluating Mainstay Tax's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mainstay Tax mutual fund have on its future price. Mainstay Tax 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 Tax autocorrelation shows the relationship between Mainstay Tax mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Mainstay Tax Free.
Regressed Prices |
| Timeline |
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Mainstay Tax 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.