Manning Napier Correlations

Mutual Funds . USA . 
Fund . Manning Napier Overseas
MNOZX Fund  USD 36.25  0.20  0.55%   
The current 90-days correlation between Manning Napier Overseas and Manning Napier Callodine is -0.01 (i.e., Good diversification). The correlation of Manning Napier 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.

Manning Napier Correlation With Market

Poor diversification

The correlation between Manning Napier Overseas and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manning Napier Overseas 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 Manning Napier Overseas. 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 Manning Mutual Fund

  0.94CEIIX Manning Napier CallodinePairCorr
  0.94CEIZX Manning Napier CallodinePairCorr
  0.94CEISX Manning Napier CallodinePairCorr
  0.96MNBAX Pro Blend ExtendedPairCorr
  0.96MNBIX Pro Blend ExtendedPairCorr
  0.76MNCPX Unconstrained Bond SeriesPairCorr
  0.91MNCRX Pro Blend ServativePairCorr
  0.89MNCWX Manning Napier ProPairCorr
  0.89MNDFX Disciplined Value SeriesPairCorr
  0.96MNBRX Pro-blend(r) ExtendedPairCorr
  0.96MNBWX Manning Napier ProPairCorr
  0.91MNCCX Pro Blend ServativePairCorr
  0.9MNCIX Pro-blend(r) ConservativePairCorr
  0.88MNDWX Manning Napier DiverPairCorr
  0.96MNECX Pro Blend ExtendedPairCorr
  0.95MNHCX Pro-blend(r) MaximumPairCorr
  0.87MNHAX High Yield BondPairCorr
  0.97MNHIX Pro Blend MaximumPairCorr
  0.97MNHRX Pro-blend(r) MaximumPairCorr
  0.95MNHWX Manning Napier ProPairCorr
  0.88MNHYX High Yield BondPairCorr
  0.95MNMCX Pro-blend(r) ModeratePairCorr
  0.93MNMIX Pro-blend(r) ModeratePairCorr
  0.95MNMRX Pro-blend(r) ModeratePairCorr
  0.95MNMWX Manning Napier ProPairCorr
  1.0MNOSX Manning Napier OverseasPairCorr
  0.93MNOWX Manning Napier OverseasPairCorr
  0.88RAIIX Rainier InternationalPairCorr
  0.89RAIRX Rainier InternationalPairCorr
  0.89RAIWX Manning Napier RainierPairCorr
  0.71MCDIX Manning Napier CreditPairCorr
  0.73MCDSX Manning Napier CreditPairCorr
  0.71MCDWX Manning Napier CreditPairCorr
  0.75MUBWX Manning Napier UnconPairCorr
  0.89MDFSX Disciplined Value SeriesPairCorr
  0.89MDVWX Manning Napier DisciPairCorr
  0.89MDVZX Manning Napier DisciPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Manning Mutual Fund performing well and Manning Napier 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 Manning Napier'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  0.87  0.23  0.08 (1.44) 0.75 
(1.06)
 2.25 
(1.50)
 6.09 
CEIZX  0.88  0.23  0.08 (1.41) 0.75 
(1.07)
 2.42 
(1.50)
 5.94 
CEISX  0.86  0.23  0.08 (1.41) 0.76 
(1.05)
 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  0.11  0.02 (0.62) 7.28  0.00 
(0.17)
 0.21 
(0.20)
 0.72 
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  0.64  0.03  0.01  0.18  0.59 
(0.77)
 1.67 
(1.05)
 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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