Mainstay Mackay Strategic Fund Market Value
| MTFHX Fund | USD 9.39 0.01 0.11% |
| Symbol | Mainstay |
Mainstay Mackay '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 Mackay'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 Mackay.
| 03/28/2024 |
| 05/27/2024 |
If you would invest 0.00 in Mainstay Mackay on March 28, 2024 and sell it all today you would earn a total of 0.00 from holding Mainstay Mackay Strategic or generate 0.0% return on investment in Mainstay Mackay over 60 days. Mainstay Mackay is related to or competes with Short-intermediate, Siit Ultra, Aqr Long-short, Jhancock Short, Touchstone Ultra, Metropolitan West, and Quantitative. The fund, under normal circumstances, invests at least 80 percent of its assets in municipal bonds, the income from whic... More
Mainstay Mackay 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 Mackay'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 Mackay Strategic upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.40) | |||
| Maximum Drawdown | 0.8456 | |||
| Value At Risk | (0.21) | |||
| Potential Upside | 0.2128 |
Mainstay Mackay Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mainstay Mackay's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mainstay Mackay's standard deviation. In reality, there are many statistical measures that can use Mainstay Mackay historical prices to predict the future Mainstay Mackay's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.03) | |||
| Treynor Ratio | (0.30) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Mainstay Mackay'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 Mackay Strategic Backtested Returns
Mainstay Mackay Strategic has Sharpe Ratio of -0.0585, which conveys that the entity had a -0.0585% return per unit of risk over the last 3 months. Mainstay Mackay exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Mainstay Mackay's Standard Deviation of 0.1403, risk adjusted performance of (0.07), and Mean Deviation of 0.0974 to check out the risk estimate we provide. The fund secures a Beta (Market Risk) of 0.0601, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Mainstay Mackay's returns are expected to increase less than the market. However, during the bear market, the loss of holding Mainstay Mackay is expected to be smaller as well.
Auto-correlation | -0.12 |
Insignificant reverse predictability
Mainstay Mackay Strategic has insignificant reverse predictability. Overlapping area represents the amount of predictability between Mainstay Mackay time series from 28th of March 2024 to 27th of April 2024 and 27th of April 2024 to 27th of May 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 Mackay Strategic price movement. The serial correlation of -0.12 indicates that less than 12.0% of current Mainstay Mackay price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.12 | |
| Spearman Rank Test | -0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Mainstay Mackay Strategic lagged returns against current returns
Autocorrelation, which is Mainstay Mackay 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 Mackay's mutual fund expected returns. We can calculate the autocorrelation of Mainstay Mackay returns to help us make a trade decision. For example, suppose you find that Mainstay Mackay 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 Mackay 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 Mackay mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mainstay Mackay 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 Mackay mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Mainstay Mackay Lagged Returns
When evaluating Mainstay Mackay's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mainstay Mackay mutual fund have on its future price. Mainstay Mackay 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 Mackay autocorrelation shows the relationship between Mainstay Mackay mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Mainstay Mackay Strategic.
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.Check out Mainstay Mackay Correlation, Mainstay Mackay Volatility and Mainstay Mackay Alpha and Beta module to complement your research on Mainstay Mackay. Note that the Mainstay Mackay Strategic information on this page should be used as a complementary analysis to other Mainstay Mackay's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
Mainstay Mackay 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.