Mainstay Vertible Fund Market Value
| MCNVX Fund | USD 20.16 0.00 0.00% |
| Symbol | Mainstay |
Mainstay Convertible '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 Convertible'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 Convertible.
| 06/06/2024 |
| 12/03/2024 |
If you would invest 0.00 in Mainstay Convertible on June 6, 2024 and sell it all today you would earn a total of 0.00 from holding Mainstay Vertible Fund or generate 0.0% return on investment in Mainstay Convertible over 180 days. Mainstay Convertible is related to or competes with Franklin Convertible, Mainstay Floating, Calamos Convertible, Mainstay High, and Cohen Steers. The fund, under normal circumstances, invests at least 80 percent of its assets in convertible securities such as bonds,... More
Mainstay Convertible 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 Convertible'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 Vertible Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4681 | |||
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 1.75 | |||
| Value At Risk | (0.56) | |||
| Potential Upside | 0.8205 |
Mainstay Convertible Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mainstay Convertible's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mainstay Convertible's standard deviation. In reality, there are many statistical measures that can use Mainstay Convertible historical prices to predict the future Mainstay Convertible's volatility.| Risk Adjusted Performance | 0.1265 | |||
| Jensen Alpha | 0.0525 | |||
| Total Risk Alpha | 0.0013 | |||
| Sortino Ratio | (0.10) | |||
| Treynor Ratio | 0.5453 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Mainstay Convertible'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 Convertible Backtested Returns
At this stage we consider Mainstay Mutual Fund to be very steady. Mainstay Convertible has Sharpe Ratio of 0.23, which conveys that the entity had a 0.23% return per unit of risk over the last 3 months. We have found twenty-four technical indicators for Mainstay Convertible, which you can use to evaluate the volatility of the fund. Please verify Mainstay Convertible's Downside Deviation of 0.4681, risk adjusted performance of 0.1265, and Mean Deviation of 0.33 to check out if the risk estimate we provide is consistent with the expected return of 0.0933%. The fund secures a Beta (Market Risk) of 0.12, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Mainstay Convertible's returns are expected to increase less than the market. However, during the bear market, the loss of holding Mainstay Convertible is expected to be smaller as well.
Auto-correlation | 0.78 |
Good predictability
Mainstay Vertible Fund has good predictability. Overlapping area represents the amount of predictability between Mainstay Convertible time series from 6th of June 2024 to 4th of September 2024 and 4th of September 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 Convertible price movement. The serial correlation of 0.78 indicates that around 78.0% of current Mainstay Convertible price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.78 | |
| Spearman Rank Test | 0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
Mainstay Convertible lagged returns against current returns
Autocorrelation, which is Mainstay Convertible 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 Convertible's mutual fund expected returns. We can calculate the autocorrelation of Mainstay Convertible returns to help us make a trade decision. For example, suppose you find that Mainstay Convertible 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 Convertible 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 Convertible mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mainstay Convertible 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 Convertible mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Mainstay Convertible Lagged Returns
When evaluating Mainstay Convertible's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mainstay Convertible mutual fund have on its future price. Mainstay Convertible 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 Convertible autocorrelation shows the relationship between Mainstay Convertible mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Mainstay Vertible Fund.
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 Convertible 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 Convertible security.
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