Manning Napier Correlations

MCDWX Fund

USD 8.95 0.04 0.44%

The current 90-days correlation between Manning Napier Credit and Manning Napier Credit is 0.97 (i.e., Almost no 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

Very good diversification

The correlation between Manning Napier Credit and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manning Napier Credit 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 Credit. 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 housing.

Moving together with Manning Mutual Fund

0.76	MNCPX	Unconstrained Bond Series	Pair Corr
0.99	MCDIX	Manning Napier Credit	Pair Corr
0.77	MCBWX	Manning Napier Core	Pair Corr
0.75	MCBZX	Manning Napier Core	Pair Corr
0.82	MCDSX	Manning Napier Credit	Pair Corr
0.7	MUBWX	Manning Napier Uncon	Pair Corr

Related Correlations Analysis

	MCDIX	MCBWX	MCBZX	MCDSX	MCDWX	CEIIX	CEIZX	CEISX	MUBWX
MCDIX		0.79	0.77	0.84	0.99	0.2	0.2	0.07	0.69	MCDIX
MCBWX	0.79		0.96	0.96	0.77	-0.11	-0.11	-0.19	0.76	MCBWX
MCBZX	0.77	0.96		0.96	0.75	-0.11	-0.11	-0.18	0.83	MCBZX
MCDSX	0.84	0.96	0.96		0.82	0.04	0.04	-0.04	0.81	MCDSX
MCDWX	0.99	0.77	0.75	0.82		0.18	0.18	0.05	0.7	MCDWX
CEIIX	0.2	-0.11	-0.11	0.04	0.18		1.0	0.92	-0.27	CEIIX
CEIZX	0.2	-0.11	-0.11	0.04	0.18	1.0		0.92	-0.27	CEIZX
CEISX	0.07	-0.19	-0.18	-0.04	0.05	0.92	0.92		-0.32	CEISX
MUBWX	0.69	0.76	0.83	0.81	0.7	-0.27	-0.27	-0.32		MUBWX
	MCDIX	MCBWX	MCBZX	MCDSX	MCDWX	CEIIX	CEIZX	CEISX	MUBWX

Click cells to compare fundamentals

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

CEIZX	+ 1.0	CEIIX
MCDWX	+ 0.99	MCDIX
MCBZX	+ 0.96	MCBWX
MCDSX	+ 0.96	MCBWX
MCDSX	+ 0.96	MCBZX
CEISX	+ 0.92	CEIIX

High negative correlations

MUBWX	- 0.32	CEISX
MUBWX	- 0.27	CEIZX
MUBWX	- 0.27	CEIIX
CEISX	- 0.19	MCBWX
CEISX	- 0.18	MCBZX
CEIZX	- 0.11	MCBZX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MCDIX	0.19	(0.01)	0.31	0.08	0.23	(0.23)	0.44	(0.45)	1.21
MCBWX	0.28	(0.01)	0.22	0.12	0.34	(0.32)	0.55	(0.44)	1.83
MCBZX	0.29	0.00	0.22	(0.03)	0.35	(0.31)	0.55	(0.54)	1.84
MCDSX	0.19	0.00	0.31	(0.02)	0.22	(0.23)	0.34	(0.44)	1.21
MCDWX	0.20	(0.01)	0.29	0.07	0.25	(0.23)	0.44	(0.44)	1.32
CEIIX	1.21	(0.05)	0.00	0.47	0.00	0.00	2.59	(2.11)	13.14
CEIZX	1.21	(0.05)	0.00	0.46	0.00	0.00	2.59	(2.10)	13.13
CEISX	1.24	(0.01)	0.00	(0.10)	0.00	0.00	2.52	(2.90)	13.02
MUBWX	0.12	0.00	0.40	(0.17)	0.10	(0.16)	0.20	(0.20)	0.81

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