Pro-blend(r) Conservative Correlations

Mutual Funds . USA . 
Fund . Pro Blend Servative Term
MNCIX Fund  USD 13.44  0.02  0.15%   
The current 90-days correlation between Pro-blend(r) Conservative and Manning Napier Callodine is 0.69 (i.e., Poor diversification). The correlation of Pro-blend(r) Conservative 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) Conservative Correlation With Market

Poor diversification

The correlation between Pro Blend Servative Term and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Servative 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 Servative 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-blend(r) Mutual Fund

  0.91CEIIX Manning Napier CallodinePairCorr
  0.91CEIZX Manning Napier CallodinePairCorr
  0.91CEISX Manning Napier CallodinePairCorr
  0.98MNBAX Pro-blend(r) ExtendedPairCorr
  0.98MNBIX Pro-blend(r) ExtendedPairCorr
  0.91MNCPX Unconstrained Bond SeriesPairCorr
  1.0MNCRX Pro-blend(r) ConservativePairCorr
  1.0MNCWX Manning Napier ProPairCorr
  0.9MNDFX Disciplined Value SeriesPairCorr
  0.98MNBRX Pro-blend(r) ExtendedPairCorr
  0.98MNBWX Manning Napier ProPairCorr
  1.0MNCCX Pro-blend(r) ConservativePairCorr
  0.76MNDWX Manning Napier DiverPairCorr
  0.97MNECX Pro-blend(r) ExtendedPairCorr
  0.95MNHCX Pro-blend(r) MaximumPairCorr
  0.97MNHAX High Yield BondPairCorr
  0.95MNHIX Pro-blend(r) MaximumPairCorr
  0.95MNHRX Pro-blend(r) MaximumPairCorr
  0.95MNHWX Manning Napier ProPairCorr
  0.97MNHYX High Yield BondPairCorr
  0.99MNMCX Pro-blend(r) ModeratePairCorr
  0.99MNMIX Pro-blend(r) ModeratePairCorr
  0.99MNMRX Pro-blend(r) ModeratePairCorr
  0.99MNMWX Manning Napier ProPairCorr
  0.89MNOSX Manning Napier OverseasPairCorr
  0.83MNOWX Manning Napier OverseasPairCorr
  0.9MNOZX Manning Napier OverseasPairCorr
  0.93RAIIX Rainier InternationalPairCorr
  0.93RAIRX Rainier InternationalPairCorr
  0.93RAIWX Manning Napier RainierPairCorr
  0.82MCDIX Manning Napier CreditPairCorr
  0.83MCDSX Manning Napier CreditPairCorr
  0.85MCDWX Manning Napier CreditPairCorr
  0.91MUBWX Manning Napier UnconPairCorr
  0.9MDFSX Disciplined Value SeriesPairCorr
  0.9MDVWX Manning Napier DisciPairCorr
  0.9MDVZX Manning Napier DisciPairCorr

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) Conservative 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) Conservative'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  1.21 (0.03)(0.01) 0.08  1.90 
(1.30)
 2.54 
(2.93)
 13.13 
CEIZX  1.21 (0.03)(0.01) 0.08  1.87 
(1.31)
 2.62 
(2.85)
 13.03 
CEISX  1.19 (0.03)(0.01) 0.07  1.84 
(1.28)
 2.55 
(2.86)
 13.08 
MNDFX  0.96 (0.05)(0.03) 0.05  1.66 
(0.99)
 1.68 
(1.96)
 10.33 
MNBWX  0.57  0.03 (0.02) 0.15  0.90 
(0.58)
 1.38 
(1.24)
 5.88 
MNCCX  0.26  0.02 (0.15) 0.19  0.27 
(0.33)
 0.68 
(0.60)
 1.77 
MNDWX  0.20  0.01 (0.15)(0.01) 0.39 
(0.24)
 0.40 
(0.77)
 3.09 
MNHAX  0.23  0.01 (0.14) 0.24  0.39 
(0.23)
 0.53 
(0.43)
 1.48 
MNHIX  0.87  0.05  0.02  0.16  1.33 
(0.84)
 2.01 
(1.70)
 10.20 
MNHRX  0.87  0.05  0.02  0.15  1.34 
(0.84)
 2.02 
(1.71)
 10.18 

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