Pro-blend(r) Extended Correlations

Mutual Funds . USA . 
Fund . Pro Blend Extended Term
MNBRX Fund  USD 19.37  0.12  0.62%   
The current 90-days correlation between Pro-blend(r) Extended and Short Intermediate Bond Fund is -0.08 (i.e., Good diversification). The correlation of Pro-blend(r) Extended 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) Extended 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 metropolitan statistical area.

Moving together with Pro-blend(r) Mutual Fund

  0.96CEIIX Manning Napier CallodinePairCorr
  0.96CEIZX Manning Napier CallodinePairCorr
  0.96CEISX Manning Napier CallodinePairCorr
  1.0MNBAX Pro-blend(r) ExtendedPairCorr
  1.0MNBIX Pro-blend(r) ExtendedPairCorr
  0.88MNCRX Pro-blend(r) ConservativePairCorr
  0.85MNCWX Manning Napier ProPairCorr
  0.89MNDFX Disciplined Value SeriesPairCorr
  1.0MNBWX Manning Napier ProPairCorr
  0.8MNCCX Pro-blend(r) ConservativePairCorr
  0.76MNCIX Pro-blend(r) ConservativePairCorr
  0.94MNECX Pro-blend(r) ExtendedPairCorr
  0.95MNHCX Pro-blend(r) MaximumPairCorr
  0.86MNHAX High Yield BondPairCorr
  0.95MNHIX Pro-blend(r) MaximumPairCorr
  0.95MNHRX Pro-blend(r) MaximumPairCorr
  0.95MNHWX Manning Napier ProPairCorr
  0.87MNHYX High Yield BondPairCorr
  1.0MNMIX Pro-blend(r) ModeratePairCorr
  0.93MNMRX Pro-blend(r) ModeratePairCorr
  0.93MNMWX Manning Napier ProPairCorr
  0.78MNOSX Manning Napier OverseasPairCorr
  0.77MNOWX Manning Napier OverseasPairCorr
  0.78MNOZX Manning Napier OverseasPairCorr
  0.89MDFSX Disciplined Value SeriesPairCorr
  0.89MDVWX Manning Napier DisciPairCorr
  0.89MDVZX Manning Napier DisciPairCorr
  1.0EXBAX Pro-blend(r) ModeratePairCorr

Moving against Pro-blend(r) Mutual Fund

  0.34MNCPX Unconstrained Bond SeriesPairCorr
  0.55MCBZX Manning Napier CorePairCorr
  0.54MUBWX Manning Napier UnconPairCorr
  0.53EXCIX Core Bond SeriesPairCorr
  0.52EXCRX Core Bond SeriesPairCorr
  0.51MCDIX Manning Napier CreditPairCorr
  0.5MCDSX Manning Napier CreditPairCorr
  0.48MCBWX Manning Napier CorePairCorr
  0.45MCDWX Manning Napier CreditPairCorr

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) Extended 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) Extended'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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