Pro-blend(r) Maximum Correlations

Mutual Funds . USA . 
Fund . Pro Blend Maximum Term
MNHIX Fund  USD 26.85  0.21  0.79%   
The current 90-days correlation between Pro-blend(r) Maximum and Manning Napier Callodine is 0.92 (i.e., Almost no diversification). The correlation of Pro-blend(r) Maximum 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) Maximum Correlation With Market

Almost no diversification

The correlation between Pro Blend Maximum Term and DJI is 0.97 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Maximum 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 Maximum 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

  0.96CEIIX Manning Napier CallodinePairCorr
  0.96CEIZX Manning Napier CallodinePairCorr
  0.96CEISX Manning Napier CallodinePairCorr
  0.99MNBAX Pro-blend(r) ExtendedPairCorr
  0.99MNBIX Pro-blend(r) ExtendedPairCorr
  0.75MNCPX Unconstrained Bond SeriesPairCorr
  0.95MNCRX Pro-blend(r) ConservativePairCorr
  0.95MNCWX Manning Napier ProPairCorr
  0.91MNDFX Disciplined Value SeriesPairCorr
  0.99MNBRX Pro-blend(r) ExtendedPairCorr
  0.99MNBWX Manning Napier ProPairCorr
  0.95MNCCX Pro-blend(r) ConservativePairCorr
  0.95MNCIX Pro-blend(r) ConservativePairCorr
  0.62MNDWX Manning Napier DiverPairCorr
  0.99MNECX Pro-blend(r) ExtendedPairCorr
  1.0MNHCX Pro-blend(r) MaximumPairCorr
  0.91MNHAX High Yield BondPairCorr
  1.0MNHRX Pro-blend(r) MaximumPairCorr
  1.0MNHWX Manning Napier ProPairCorr
  0.92MNHYX 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
  0.96MNOSX Manning Napier OverseasPairCorr
  0.93MNOWX Manning Napier OverseasPairCorr
  0.97MNOZX Manning Napier OverseasPairCorr
  0.95RAIIX Rainier InternationalPairCorr
  0.95RAIRX Rainier InternationalPairCorr
  0.95RAIWX Manning Napier RainierPairCorr
  0.61MCDIX Manning Napier CreditPairCorr
  0.63MCDSX Manning Napier CreditPairCorr
  0.66MCDWX Manning Napier CreditPairCorr
  0.75MUBWX Manning Napier UnconPairCorr
  0.9MDFSX Disciplined Value SeriesPairCorr
  0.91MDVWX Manning Napier DisciPairCorr
  0.91MDVZX 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) Maximum 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) Maximum'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 
MNBAX  0.57  0.02 (0.02) 0.15  0.85 
(0.57)
 1.34 
(1.25)
 5.83 
MNBIX  0.57  0.03 (0.02) 0.15  0.88 
(0.56)
 1.39 
(1.25)
 5.87 
MNCPX  0.13  0.01 (0.38)(0.38) 0.09 
(0.17)
 0.31 
(0.31)
 0.82 
MNCRX  0.25  0.02 (0.15) 0.21  0.26 
(0.31)
 0.69 
(0.60)
 1.70 
MNCWX  0.26  0.02 (0.14) 0.23  0.27 
(0.31)
 0.68 
(0.62)
 1.78 
MNDFX  0.96 (0.05)(0.03) 0.05  1.66 
(0.99)
 1.68 
(1.96)
 10.33 
MNBRX  0.57  0.02 (0.02) 0.15  0.85 
(0.55)
 1.39 
(1.25)
 5.81 

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