Pro Blend Correlations

MNBAX Fund

USD 19.15 0.08 0.42%

The current 90-days correlation between Pro Blend Extended and Pro Blend Maximum Term is 0.32 (i.e., Weak diversification). 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

Modest diversification

The correlation between Pro Blend Extended Term and DJI is 0.21 (i.e., Modest 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

1.0	MNBIX	Pro Blend Extended	Pair Corr
0.79	MNCPX	Unconstrained Bond Series	Pair Corr
0.73	MNCRX	Pro Blend Servative	Pair Corr
0.97	MNDFX	Disciplined Value Series	Pair Corr
1.0	MNBRX	Pro Blend Extended	Pair Corr
0.72	MNCCX	Pro Blend Servative	Pair Corr
1.0	MNECX	Pro Blend Extended	Pair Corr
1.0	MNHCX	Pro Blend Maximum	Pair Corr
0.8	MNHAX	High Yield Bond	Pair Corr
0.77	MNHIX	Pro Blend Maximum	Pair Corr
1.0	MNHRX	Pro Blend Maximum	Pair Corr
0.79	MNHYX	High Yield Bond	Pair Corr
0.99	MNMCX	Pro Blend Moderate	Pair Corr
0.99	MNMIX	Pro Blend Moderate	Pair Corr
0.99	MNMRX	Pro Blend Moderate	Pair Corr
0.77	MUBWX	Manning Napier Uncon	Pair Corr
0.97	MDFSX	Disciplined Value Series	Pair Corr
0.97	MDVWX	Manning Napier Disci	Pair Corr
0.99	EXBAX	Pro Blend Moderate	Pair Corr
0.76	EXCPX	Unconstrained Bond Series	Pair Corr
0.74	EXDAX	Pro Blend Servative	Pair Corr

Moving against Pro Mutual Fund

0.89	MNBWX	Manning Napier Pro	Pair Corr
0.82	MNCWX	Manning Napier Pro	Pair Corr
0.82	MNHWX	Manning Napier Pro	Pair Corr
0.82	MNMWX	Manning Napier Pro	Pair Corr
0.53	CEIIX	Manning Napier Callodine	Pair Corr
0.53	CEIZX	Manning Napier Callodine	Pair Corr
0.53	CEISX	Manning Napier Callodine	Pair Corr
0.71	FBONX	American Funds American	Pair Corr
0.71	FBAFX	American Funds American	Pair Corr

Related Correlations Analysis

	MNHIX	STLAX	VALIX	VLIIX	MWOFX	NMIAX	BDAFX	HIEMX	HEMZX	PRPZX
MNHIX		0.37	0.83	0.83	0.81	0.84	0.8	0.24	0.23	0.48	MNHIX
STLAX	0.37		0.24	0.24	0.15	0.22	0.44	0.27	0.27	0.07	STLAX
VALIX	0.83	0.24		1.0	0.93	0.77	0.72	0.32	0.3	0.21	VALIX
VLIIX	0.83	0.24	1.0		0.93	0.77	0.72	0.31	0.3	0.22	VLIIX
MWOFX	0.81	0.15	0.93	0.93		0.78	0.62	0.28	0.27	0.23	MWOFX
NMIAX	0.84	0.22	0.77	0.77	0.78		0.51	-0.05	-0.06	0.4	NMIAX
BDAFX	0.8	0.44	0.72	0.72	0.62	0.51		0.62	0.61	0.13	BDAFX
HIEMX	0.24	0.27	0.32	0.31	0.28	-0.05	0.62		1.0	-0.36	HIEMX
HEMZX	0.23	0.27	0.3	0.3	0.27	-0.06	0.61	1.0		-0.37	HEMZX
PRPZX	0.48	0.07	0.21	0.22	0.23	0.4	0.13	-0.36	-0.37		PRPZX
	MNHIX	STLAX	VALIX	VLIIX	MWOFX	NMIAX	BDAFX	HIEMX	HEMZX	PRPZX

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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

VLIIX	+ 1.0	VALIX
HEMZX	+ 1.0	HIEMX
MWOFX	+ 0.93	VALIX
MWOFX	+ 0.93	VLIIX
NMIAX	+ 0.84	MNHIX
VALIX	+ 0.83	MNHIX

High negative correlations

PRPZX	- 0.37	HEMZX
PRPZX	- 0.36	HIEMX
HEMZX	- 0.06	NMIAX
HIEMX	- 0.05	NMIAX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MNHIX	0.52	0.02	0.01	0.07	0.66	(0.55)	1.16	(1.00)	3.05
STLAX	0.36	(0.07)	0.00	(0.09)	0.00	0.00	0.59	(0.70)	4.87
VALIX	0.72	0.05	0.04	0.12	0.87	(0.78)	1.65	(1.73)	4.55
VLIIX	0.73	0.06	0.04	0.12	0.85	(0.83)	1.62	(1.73)	4.48
MWOFX	0.60	0.07	0.08	0.13	0.63	(0.65)	1.10	(1.10)	6.57
NMIAX	0.75	0.15	0.17	0.17	0.64	(0.88)	1.54	(1.26)	12.40
BDAFX	0.71	(0.01)	(0.01)	0.04	1.09	(0.64)	1.25	(1.47)	4.74
HIEMX	0.56	(0.05)	0.00	(0.02)	0.00	0.00	1.29	(1.39)	3.66
HEMZX	0.57	(0.05)	0.00	(0.02)	0.00	0.00	1.26	(1.23)	3.62
PRPZX	0.59	(0.02)	(0.06)	(0.01)	0.77	(0.65)	1.35	(1.55)	3.56

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