Mainstay California Tax Fund Market Value
| MSCVX Fund | USD 9.62 0.05 0.52% |
| Symbol | Mainstay |
Mainstay California '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 California'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 California.
| 12/13/2024 |
| 03/13/2025 |
If you would invest 0.00 in Mainstay California on December 13, 2024 and sell it all today you would earn a total of 0.00 from holding Mainstay California Tax or generate 0.0% return on investment in Mainstay California over 90 days. Mainstay California is related to or competes with Intermediate Bond, Old Westbury, Ab Bond, Morningstar Defensive, and Rbc Ultra-short. The fund invests at least 80 percent of its assets in municipal bonds, whose interest is, in the opinion of bond counsel... More
Mainstay California 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 California'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 California Tax upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.3969 | |||
| Maximum Drawdown | 1.03 | |||
| Value At Risk | (0.52) | |||
| Potential Upside | 0.3122 |
Mainstay California Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mainstay California's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mainstay California's standard deviation. In reality, there are many statistical measures that can use Mainstay California historical prices to predict the future Mainstay California's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | 0.0086 | |||
| Treynor Ratio | (0.84) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Mainstay California'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 California Tax Backtested Returns
Mainstay California Tax has Sharpe Ratio of -0.077, which conveys that the entity had a -0.077 % return per unit of risk over the last 3 months. Mainstay California exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Mainstay California's Mean Deviation of 0.1753, standard deviation of 0.2463, and Risk Adjusted Performance of (0.09) to check out the risk estimate we provide. The fund secures a Beta (Market Risk) of 0.0343, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Mainstay California's returns are expected to increase less than the market. However, during the bear market, the loss of holding Mainstay California is expected to be smaller as well.
Auto-correlation | -0.74 |
Almost perfect reverse predictability
Mainstay California Tax has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Mainstay California time series from 13th of December 2024 to 27th of January 2025 and 27th of January 2025 to 13th of March 2025. 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 California Tax price movement. The serial correlation of -0.74 indicates that around 74.0% of current Mainstay California price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.74 | |
| Spearman Rank Test | -0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Mainstay California Tax lagged returns against current returns
Autocorrelation, which is Mainstay California 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 California's mutual fund expected returns. We can calculate the autocorrelation of Mainstay California returns to help us make a trade decision. For example, suppose you find that Mainstay California 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 California 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 California mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mainstay California 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 California mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Mainstay California Lagged Returns
When evaluating Mainstay California's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mainstay California mutual fund have on its future price. Mainstay California 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 California autocorrelation shows the relationship between Mainstay California mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Mainstay California Tax.
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 California 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 California security.
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