Core Bond Correlations

Mutual Funds . USA . 
Fund . Core Bond Series
EXCRX Fund  USD 9.18  0.02  0.22%   
The current 90-days correlation between Core Bond Series and Unconstrained Bond Series is 0.81 (i.e., Very poor diversification). The correlation of Core Bond is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Core Bond Correlation With Market

Modest diversification

The correlation between Core Bond Series and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Core Bond Series and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Core Bond Series. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Core Mutual Fund

  0.62MNBIX Pro Blend ExtendedPairCorr
  0.83MNCPX Unconstrained Bond SeriesPairCorr
  0.7MNCWX Manning Napier ProPairCorr
  0.62MNDFX Disciplined Value SeriesPairCorr
  0.62MNBRX Pro-blend(r) ExtendedPairCorr
  0.62MNBWX Manning Napier ProPairCorr
  0.76MNCCX Pro Blend ServativePairCorr
  0.76MNCIX Pro-blend(r) ConservativePairCorr
  0.65MNDWX Manning Napier DiverPairCorr
  0.62MNECX Pro Blend ExtendedPairCorr
  0.71MNHAX High Yield BondPairCorr
  0.71MNHYX High Yield BondPairCorr
  0.66MNMCX Pro-blend(r) ModeratePairCorr
  0.62MNMIX Pro-blend(r) ModeratePairCorr
  0.66MNMRX Pro-blend(r) ModeratePairCorr
  0.66MNMWX Manning Napier ProPairCorr
  0.64RAIIX Rainier InternationalPairCorr
  0.65RAIRX Rainier InternationalPairCorr
  0.66RAIWX Manning Napier RainierPairCorr
  0.86MCDIX Manning Napier CreditPairCorr
  0.99MCBWX Manning Napier CorePairCorr
  0.89MCBZX Manning Napier CorePairCorr
  0.93MCDSX Manning Napier CreditPairCorr
  0.92MCDWX Manning Napier CreditPairCorr
  0.83MUBWX Manning Napier UnconPairCorr
  0.61MDFSX Disciplined Value SeriesPairCorr
  0.61MDVWX Manning Napier DisciPairCorr
  0.61MDVZX Manning Napier DisciPairCorr
  0.61EXBAX Pro-blend(r) ModeratePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Core Mutual Fund performing well and Core Bond Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Core Bond's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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