Mainstay Growth Allocation Fund Market Value
| MGXCX Fund | USD 17.24 0.04 0.23% |
| Symbol | Mainstay |
Mainstay Growth '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 Growth'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 Growth.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Mainstay Growth on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Mainstay Growth Allocation or generate 0.0% return on investment in Mainstay Growth over 30 days. Mainstay Growth is related to or competes with Columbia Small, Pace Small/medium, Ultramid-cap Profund, Vanguard Small-cap, Lord Abbett, Ultrasmall-cap Profund, and Mutual Of. The fund is a fund of funds that seeks to achieve its investment objective by investing in mutual funds and ETFs managed... More
Mainstay Growth 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 Growth'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 Growth Allocation upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7593 | |||
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 3.35 | |||
| Value At Risk | (1.12) | |||
| Potential Upside | 1.01 |
Mainstay Growth Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mainstay Growth's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mainstay Growth's standard deviation. In reality, there are many statistical measures that can use Mainstay Growth historical prices to predict the future Mainstay Growth's volatility.| Risk Adjusted Performance | 0.0796 | |||
| Jensen Alpha | 0.0404 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.07) | |||
| Treynor Ratio | 0.3025 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Mainstay Growth'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 Growth Allo Backtested Returns
At this stage we consider Mainstay Mutual Fund to be very steady. Mainstay Growth Allo has Sharpe Ratio of 0.0968, which conveys that the entity had a 0.0968% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Mainstay Growth, which you can use to evaluate the volatility of the fund. Please verify Mainstay Growth's Downside Deviation of 0.7593, risk adjusted performance of 0.0796, and Mean Deviation of 0.5428 to check out if the risk estimate we provide is consistent with the expected return of 0.0703%. The fund secures a Beta (Market Risk) of 0.22, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Mainstay Growth's returns are expected to increase less than the market. However, during the bear market, the loss of holding Mainstay Growth is expected to be smaller as well.
Auto-correlation | 0.95 |
Excellent predictability
Mainstay Growth Allocation has excellent predictability. Overlapping area represents the amount of predictability between Mainstay Growth time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th of November 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 Growth Allo price movement. The serial correlation of 0.95 indicates that approximately 95.0% of current Mainstay Growth price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.95 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Mainstay Growth Allo lagged returns against current returns
Autocorrelation, which is Mainstay Growth 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 Growth's mutual fund expected returns. We can calculate the autocorrelation of Mainstay Growth returns to help us make a trade decision. For example, suppose you find that Mainstay Growth 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 Growth 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 Growth mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mainstay Growth 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 Growth mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Mainstay Growth Lagged Returns
When evaluating Mainstay Growth's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mainstay Growth mutual fund have on its future price. Mainstay Growth 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 Growth autocorrelation shows the relationship between Mainstay Growth mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Mainstay Growth Allocation.
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 Growth 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 Growth security.
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