Pro-blend(r) Moderate Correlations

Mutual Funds . USA . 
Fund . Pro Blend Moderate Term
MNMCX Fund  USD 14.75  0.01  0.07%   
The current 90-days correlation between Pro-blend(r) Moderate and Manning Napier Callodine is -0.17 (i.e., Good diversification). The correlation of Pro-blend(r) Moderate 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(r) Moderate Correlation With Market

Very poor diversification

The correlation between Pro Blend Moderate Term and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Moderate 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 Moderate 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-blend(r) Mutual Fund

  0.69CEIIX Manning Napier CallodinePairCorr
  0.69CEIZX Manning Napier CallodinePairCorr
  0.69CEISX Manning Napier CallodinePairCorr
  1.0MNBAX Pro Blend ExtendedPairCorr
  1.0MNBIX Pro Blend ExtendedPairCorr
  0.63MNCPX Unconstrained Bond SeriesPairCorr
  0.99MNCRX Pro Blend ServativePairCorr
  0.97MNCWX Manning Napier ProPairCorr
  0.7MNDFX Disciplined Value SeriesPairCorr
  1.0MNBRX Pro-blend(r) ExtendedPairCorr
  0.75MNBWX Manning Napier ProPairCorr
  0.74MNCCX Pro Blend ServativePairCorr
  0.73MNCIX Pro-blend(r) ConservativePairCorr
  0.81MNDWX Manning Napier DiverPairCorr
  0.76MNECX Pro Blend ExtendedPairCorr
  0.74MNHCX Pro-blend(r) MaximumPairCorr
  0.67MNHAX High Yield BondPairCorr
  0.75MNHIX Pro Blend MaximumPairCorr
  0.75MNHRX Pro-blend(r) MaximumPairCorr
  0.74MNHWX Manning Napier ProPairCorr
  0.97MNHYX High Yield BondPairCorr
  0.75MNMIX Pro-blend(r) ModeratePairCorr
  1.0MNMRX Pro-blend(r) ModeratePairCorr
  0.75MNMWX Manning Napier ProPairCorr
  0.76MNOSX Manning Napier OverseasPairCorr
  0.64MNOWX Manning Napier OverseasPairCorr
  0.76MNOZX Manning Napier OverseasPairCorr
  0.69RAIIX Rainier InternationalPairCorr
  0.69RAIRX Rainier InternationalPairCorr
  0.69RAIWX Manning Napier RainierPairCorr
  0.64MCDIX Manning Napier CreditPairCorr
  0.69MCBWX Manning Napier CorePairCorr
  0.67MCBZX Manning Napier CorePairCorr
  0.87MCDWX Manning Napier CreditPairCorr
  0.63MUBWX Manning Napier UnconPairCorr
  0.96MDFSX Disciplined Value SeriesPairCorr
  0.96MDVWX Manning Napier DisciPairCorr
  0.96MDVZX Manning Napier DisciPairCorr
  1.0EXBAX 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 Pro-blend(r) Mutual Fund performing well and Pro-blend(r) Moderate 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(r) Moderate'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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CEIIX  0.86  0.25  0.09 (1.19) 0.74 
(1.04)
 2.25 
(1.50)
 6.09 
CEIZX  0.86  0.25  0.09 (1.16) 0.72 
(1.05)
 2.42 
(1.50)
 5.94 
CEISX  0.84  0.25  0.09 (1.22) 0.71 
(1.03)
 2.43 
(1.51)
 5.96 
MNBAX  0.40  0.03 (0.05) 0.19  0.31 
(0.46)
 1.18 
(0.69)
 2.61 
MNBIX  0.39  0.03 (0.05) 0.20  0.30 
(0.45)
 1.18 
(0.69)
 2.57 
MNCPX  0.10  0.01 (0.70) 3.17  0.00 
(0.16)
 0.20 
(0.20)
 0.61 
MNCRX  0.20  0.02 (0.27) 0.22  0.00 
(0.26)
 0.45 
(0.45)
 1.53 
MNCWX  0.21  0.06 (0.24)(2.23) 0.00 
(0.28)
 0.55 
(0.38)
 1.45 
MNDFX  0.61  0.20  0.07 (1.24) 0.45 
(0.78)
 1.67 
(0.76)
 4.75 
MNBRX  0.39  0.03 (0.06) 0.19  0.31 
(0.44)
 1.18 
(0.69)
 2.57 

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