Manning Napier Correlations

CEISX Fund

13.50 0.06 0.45%

The current 90-days correlation between Manning Napier Callodine and Tiaa Cref Real Estate is 0.6 (i.e., Poor 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 Callodine and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manning Napier Callodine and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Manning Napier Callodine. 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 main economic indicators.

Moving together with Manning Mutual Fund

1.0	CEIIX	Manning Napier Callodine	Pair Corr
1.0	CEIZX	Manning Napier Callodine	Pair Corr
0.64	RAIRX	Rainier International	Pair Corr
0.65	RISAX	Rainier International	Pair Corr
0.8	JVMAX	John Hancock Disciplined	Pair Corr
0.8	JVMIX	John Hancock Disciplined	Pair Corr
0.68	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.65	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.66	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.65	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.67	JMVPX	Jpmorgan Mid Cap	Pair Corr
0.82	VETAX	Victory Sycamore Est	Pair Corr
0.66	TCTGX	Transamerica Cleartrack	Pair Corr

Moving against Manning Mutual Fund

0.68	MNDWX	Manning Napier Diver	Pair Corr
0.57	MNCPX	Unconstrained Bond Series	Pair Corr
0.51	MCDWX	Manning Napier Credit	Pair Corr
0.48	MCDIX	Manning Napier Credit	Pair Corr
0.42	EXCIX	Core Bond Series	Pair Corr
0.4	EXCRX	Core Bond Series	Pair Corr
0.79	FTCAX	Templeton Strained Bond	Pair Corr
0.77	UIPIX	Ultrashort Mid Cap	Pair Corr
0.7	TWTIX	Intermediate Term Tax	Pair Corr

Related Correlations Analysis

	TIREX	CREMX	REINX	CREYX	FORFX	FSERX	PGRUX	VRREX
TIREX		0.32	0.86	0.94	0.34	0.89	0.85	0.94	TIREX
CREMX	0.32		-0.14	0.08	0.98	-0.07	-0.11	0.1	CREMX
REINX	0.86	-0.14		0.95	-0.12	0.99	0.95	0.95	REINX
CREYX	0.94	0.08	0.95		0.12	0.97	0.94	0.98	CREYX
FORFX	0.34	0.98	-0.12	0.12		-0.04	-0.09	0.12	FORFX
FSERX	0.89	-0.07	0.99	0.97	-0.04		0.96	0.97	FSERX
PGRUX	0.85	-0.11	0.95	0.94	-0.09	0.96		0.94	PGRUX
VRREX	0.94	0.1	0.95	0.98	0.12	0.97	0.94		VRREX
	TIREX	CREMX	REINX	CREYX	FORFX	FSERX	PGRUX	VRREX

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

FSERX	+ 0.99	REINX
FORFX	+ 0.98	CREMX
VRREX	+ 0.98	CREYX
FSERX	+ 0.97	CREYX
VRREX	+ 0.97	FSERX
PGRUX	+ 0.96	FSERX

High negative correlations

REINX	- 0.14	CREMX
FORFX	- 0.12	REINX
PGRUX	- 0.11	CREMX
PGRUX	- 0.09	FORFX
FSERX	- 0.07	CREMX
FSERX	- 0.04	FORFX

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
TIREX	0.57	0.00	(0.04)	0.06	0.77	(0.56)	1.12	(1.32)	3.98
CREMX	0.03	0.01	0.00	(1.71)	0.00	0.00	0.08	0.00	0.72
REINX	0.58	(0.03)	(0.07)	0.00	0.78	(0.63)	1.32	(1.25)	3.70
CREYX	0.67	(0.01)	(0.05)	0.04	0.84	(0.70)	1.42	(1.33)	4.13
FORFX	0.06	0.01	0.00	(0.74)	0.00	0.00	0.10	(0.10)	0.21
FSERX	0.58	(0.03)	(0.07)	0.01	0.75	(0.65)	1.29	(1.20)	3.78
PGRUX	0.51	(0.02)	(0.06)	0.02	0.70	(0.53)	1.03	(1.13)	3.44
VRREX	0.60	(0.01)	(0.05)	0.04	0.82	(0.61)	1.34	(1.29)	3.92

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