Pro Blend Correlations

Mutual Funds USA . 
Fund . Pro Blend Extended Term
MNBIX Fund  USD 20.99  0.07  0.33%   
The current 90-days correlation between Pro Blend Extended and Columbia Convertible Securities is 0.01 (i.e., Significant 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

Very poor diversification

The correlation between Pro Blend Extended Term and DJI is 0.83 (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 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 gross domestic product.

Moving together with Pro Mutual Fund

  1.0MNBAX Pro Blend ExtendedPairCorr
  0.69MNCPX Unconstrained Bond SeriesPairCorr
  0.84MNCRX Pro Blend ServativePairCorr
  0.91MNCWX Manning Napier ProPairCorr
  0.68MNDFX Disciplined Value SeriesPairCorr
  0.82MNBRX Pro Blend ExtendedPairCorr
  1.0MNBWX Manning Napier ProPairCorr
  0.85MNCCX Pro Blend ServativePairCorr
  0.92MNCIX Pro Blend ServativePairCorr
  0.63MNDWX Manning Napier DiverPairCorr
  1.0MNECX Pro-blend(r) ExtendedPairCorr
  0.97MNHCX Pro-blend(r) MaximumPairCorr
  0.76MNHIX Pro-blend(r) MaximumPairCorr
  0.75MNHRX Pro-blend(r) MaximumPairCorr
  0.77MNHWX Manning Napier ProPairCorr
  0.99MNMCX Pro Blend ModeratePairCorr
  0.99MNMIX Pro-blend(r) ModeratePairCorr
  0.99MNMRX Pro-blend(r) ModeratePairCorr
  0.84MNMWX Manning Napier ProPairCorr
  0.71MCDIX Manning Napier CreditPairCorr
  0.74MCBWX Manning Napier CorePairCorr
  0.74MCBZX Manning Napier CorePairCorr
  0.71MCDSX Manning Napier CreditPairCorr
  0.69MCDWX Manning Napier CreditPairCorr
  0.67MUBWX Manning Napier UnconPairCorr
  0.68MDVWX Manning Napier DisciPairCorr
  0.99EXBAX Pro-blend(r) ModeratePairCorr
  0.7EXCPX Unconstrained Bond SeriesPairCorr

Related Correlations Analysis


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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