Pro Blend Correlations

Mutual Funds . USA . 
Fund . Pro Blend Extended Term
MNBAX Fund  USD 20.15  0.14  0.69%   
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 0.94 (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

  0.98CEIIX Manning Napier CallodinePairCorr
  0.98CEIZX Manning Napier CallodinePairCorr
  0.98CEISX Manning Napier CallodinePairCorr
  1.0MNBIX Pro Blend ExtendedPairCorr
  0.85MNCPX Unconstrained Bond SeriesPairCorr
  0.98MNCRX Pro Blend ServativePairCorr
  0.97MNDFX Disciplined Value SeriesPairCorr
  1.0MNBRX Pro-blend(r) ExtendedPairCorr
  1.0MNBWX Manning Napier ProPairCorr
  0.98MNCCX Pro Blend ServativePairCorr
  0.98MNCIX Pro-blend(r) ConservativePairCorr
  0.84MNDWX Manning Napier DiverPairCorr
  1.0MNECX Pro Blend ExtendedPairCorr
  1.0MNHCX Pro-blend(r) MaximumPairCorr
  0.96MNHAX High Yield BondPairCorr
  1.0MNHIX Pro Blend MaximumPairCorr
  1.0MNHRX Pro-blend(r) MaximumPairCorr
  1.0MNHWX Manning Napier ProPairCorr
  0.96MNHYX High Yield BondPairCorr
  1.0MNMIX Pro-blend(r) ModeratePairCorr
  1.0MNMRX Pro-blend(r) ModeratePairCorr
  1.0MNMWX Manning Napier ProPairCorr
  0.96MNOSX Manning Napier OverseasPairCorr
  0.89MNOWX Manning Napier OverseasPairCorr
  0.96MNOZX Manning Napier OverseasPairCorr
  0.97RAIIX Rainier InternationalPairCorr
  0.97RAIRX Rainier InternationalPairCorr
  0.97RAIWX Manning Napier RainierPairCorr
  0.8MCDIX Manning Napier CreditPairCorr
  0.62MCBWX Manning Napier CorePairCorr
  0.82MCDWX Manning Napier CreditPairCorr
  0.85MUBWX Manning Napier UnconPairCorr
  0.97MDFSX Disciplined Value SeriesPairCorr
  0.97MDVZX Manning Napier DisciPairCorr
  1.0EXBAX Pro-blend(r) ModeratePairCorr
  0.84EXCPX Unconstrained Bond SeriesPairCorr
  0.98EXDAX Pro-blend(r) ConservativePairCorr

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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