Pro-blend(r) Moderate Correlations

Mutual Funds . USA . 
Fund . Pro Blend Moderate Term
MNMRX Fund  USD 14.73  0.01  0.07%   
The current 90-days correlation between Pro-blend(r) Moderate and Manning Napier Callodine is -0.07 (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 0.84 (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 metropolitan statistical area.

Moving together with Pro-blend(r) Mutual Fund

  0.61CEIIX Manning Napier CallodinePairCorr
  0.61CEIZX Manning Napier CallodinePairCorr
  0.62CEISX Manning Napier CallodinePairCorr
  1.0MNBAX Pro Blend ExtendedPairCorr
  1.0MNBIX Pro Blend ExtendedPairCorr
  0.99MNCRX Pro Blend ServativePairCorr
  0.99MNCWX Manning Napier ProPairCorr
  0.61MNDFX Disciplined Value SeriesPairCorr
  1.0MNBRX Pro-blend(r) ExtendedPairCorr
  1.0MNBWX Manning Napier ProPairCorr
  0.99MNCCX Pro Blend ServativePairCorr
  0.64MNCIX Pro-blend(r) ConservativePairCorr
  0.77MNDWX Manning Napier DiverPairCorr
  0.67MNECX Pro Blend ExtendedPairCorr
  0.67MNHCX Pro-blend(r) MaximumPairCorr
  0.66MNHIX Pro Blend MaximumPairCorr
  0.66MNHRX Pro-blend(r) MaximumPairCorr
  0.99MNHWX Manning Napier ProPairCorr
  0.97MNHYX High Yield BondPairCorr
  1.0MNMCX Pro-blend(r) ModeratePairCorr
  1.0MNMIX Pro-blend(r) ModeratePairCorr
  0.66MNMWX Manning Napier ProPairCorr
  0.69MNOSX Manning Napier OverseasPairCorr
  0.95MNOZX Manning Napier OverseasPairCorr
  0.96RAIRX Rainier InternationalPairCorr
  0.69MCBWX Manning Napier CorePairCorr
  0.66MCBZX Manning Napier CorePairCorr
  0.87MCDWX Manning Napier CreditPairCorr
  0.87MUBWX 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  0.84  0.19  0.05 (3.86) 0.78 
(1.03)
 2.14 
(1.50)
 6.09 
CEIZX  0.84  0.19  0.05 (4.03) 0.77 
(1.03)
 2.06 
(1.50)
 5.94 
CEISX  0.82  0.19  0.05 (6.93) 0.76 
(1.01)
 2.07 
(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 (0.67)(1.21) 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  0.02 (0.27) 0.24  0.00 
(0.26)
 0.53 
(0.38)
 1.45 
MNDFX  0.59  0.16  0.03 (3.85) 0.49 
(0.73)
 1.39 
(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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