Pro Blend Correlations

Mutual Funds . USA . 
Fund . Pro Blend Extended Term
MNECX Fund  USD 20.20  0.02  0.1%   
The current 90-days correlation between Pro Blend Extended and Shelton Funds is 0.79 (i.e., Poor diversification). 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

Good diversification

The correlation between Pro Blend Extended Term and DJI is -0.12 (i.e., Good 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 main economic indicators.

Moving together with Pro Mutual Fund

  0.96CEIIX Manning Napier CallodinePairCorr
  0.97CEIZX Manning Napier CallodinePairCorr
  0.97CEISX Manning Napier CallodinePairCorr
  0.68MNBAX Pro Blend ExtendedPairCorr
  0.74MNBIX Pro Blend ExtendedPairCorr
  0.87MNCPX Unconstrained Bond SeriesPairCorr
  0.65MNCRX Pro Blend ServativePairCorr
  0.96MNDFX Disciplined Value SeriesPairCorr
  0.68MNBRX Pro-blend(r) ExtendedPairCorr
  0.74MNBWX Manning Napier ProPairCorr
  0.67MNCCX Pro Blend ServativePairCorr
  0.98MNCIX Pro-blend(r) ConservativePairCorr
  0.95MNDWX Manning Napier DiverPairCorr
  0.97MNHCX Pro-blend(r) MaximumPairCorr
  0.96MNHAX High Yield BondPairCorr
  0.99MNHIX Pro Blend MaximumPairCorr
  0.99MNHRX Pro-blend(r) MaximumPairCorr
  0.67MNHWX Manning Napier ProPairCorr
  0.65MNHYX High Yield BondPairCorr
  0.67MNMIX Pro-blend(r) ModeratePairCorr
  1.0MNMRX Pro-blend(r) ModeratePairCorr
  0.98MNMWX Manning Napier ProPairCorr
  0.96MNOSX Manning Napier OverseasPairCorr
  0.76MNOZX Manning Napier OverseasPairCorr
  0.96RAIIX Rainier InternationalPairCorr
  0.69RAIRX Rainier InternationalPairCorr
  0.95RAIWX Manning Napier RainierPairCorr
  0.84MCDIX Manning Napier CreditPairCorr
  0.96MDFSX Disciplined Value SeriesPairCorr
  0.96MDVZX Manning Napier DisciPairCorr
  0.67EXBAX Pro-blend(r) ModeratePairCorr
  0.65EXCIX Core Bond SeriesPairCorr
  0.71EXDAX Pro-blend(r) ConservativePairCorr
  0.65EXCRX Core Bond SeriesPairCorr
  0.73EXEYX Equity Series ClassPairCorr

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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