Pro Blend Correlations

Mutual Funds . USA . 
Fund . Pro Blend Extended Term
MNBAX Fund  USD 20.03  0.12  0.60%   
The current 90-days correlation between Pro Blend Extended and Pro Blend Moderate Term is 0.99 (i.e., No risk reduction). The correlation of Pro Blend 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.

Pro Blend Correlation With Market

Almost no diversification

The correlation between Pro Blend Extended Term and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Extended Term and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Pro Blend Extended Term. 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 nation.

Moving together with Pro Mutual Fund

  0.67CEIZX Manning Napier CallodinePairCorr
  0.67CEISX Manning Napier CallodinePairCorr
  1.0MNBIX Pro Blend ExtendedPairCorr
  0.98MNCRX Pro Blend ServativePairCorr
  0.96MNBRX Pro-blend(r) ExtendedPairCorr
  1.0MNBWX Manning Napier ProPairCorr
  0.96MNCCX Pro Blend ServativePairCorr
  0.66MNCIX Pro-blend(r) ConservativePairCorr
  0.64MNDWX Manning Napier DiverPairCorr
  0.69MNECX Pro Blend ExtendedPairCorr
  0.99MNHCX Pro-blend(r) MaximumPairCorr
  0.96MNHAX High Yield BondPairCorr
  0.67MNHIX Pro Blend MaximumPairCorr
  0.63MNHRX Pro-blend(r) MaximumPairCorr
  0.99MNHWX Manning Napier ProPairCorr
  0.97MNHYX High Yield BondPairCorr
  1.0MNMIX Pro-blend(r) ModeratePairCorr
  0.68MNMRX Pro-blend(r) ModeratePairCorr
  0.97MNMWX Manning Napier ProPairCorr
  0.91MNOSX Manning Napier OverseasPairCorr
  0.84MNOWX Manning Napier OverseasPairCorr
  0.91MNOZX Manning Napier OverseasPairCorr
  0.96RAIRX Rainier InternationalPairCorr
  0.7MCBWX Manning Napier CorePairCorr
  0.87MCDWX Manning Napier CreditPairCorr
  0.87MUBWX Manning Napier UnconPairCorr
  1.0EXBAX Pro-blend(r) ModeratePairCorr
  0.86EXCPX Unconstrained Bond SeriesPairCorr
  0.98EXDAX Pro-blend(r) ConservativePairCorr
  0.99EXEYX Equity Series ClassPairCorr
  0.99EXHAX Pro Blend MaximumPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Pro Mutual Fund performing well and Pro Blend 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 Pro Blend'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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