Pro-blend(r) Maximum Correlations

MNHIX Fund

USD 26.90 0.09 0.33%

The current 90-days correlation between Pro-blend(r) Maximum and Manning Napier Callodine is 0.68 (i.e., Poor 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

Very poor diversification

The correlation between Pro Blend Maximum Term and DJI is 0.89 (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 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

0.86	CEIIX	Manning Napier Callodine	Pair Corr
0.99	MNBAX	Pro-blend(r) Extended	Pair Corr
0.99	MNBIX	Pro Blend Extended	Pair Corr
0.89	MNCRX	Pro-blend(r) Conservative	Pair Corr
0.89	MNCWX	Manning Napier Pro	Pair Corr
0.99	MNBRX	Pro-blend(r) Extended	Pair Corr
0.89	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.68	MNDWX	Manning Napier Diver	Pair Corr
0.87	MNHAX	High Yield Bond	Pair Corr
1.0	MNHRX	Pro-blend(r) Maximum	Pair Corr
0.87	MNHYX	High Yield Bond	Pair Corr
0.97	MNMCX	Pro-blend(r) Moderate	Pair Corr
0.97	MNMIX	Pro Blend Moderate	Pair Corr
0.97	MNMRX	Pro Blend Moderate	Pair Corr
0.66	MCBZX	Manning Napier Core	Pair Corr
0.94	MDFSX	Disciplined Value Series	Pair Corr
0.97	EXBAX	Pro-blend(r) Moderate	Pair Corr
0.8	EXCPX	Unconstrained Bond Series	Pair Corr
0.97	EXEYX	Equity Series Class	Pair Corr
1.0	EXHAX	Pro-blend(r) Maximum	Pair Corr
0.72	EXOSX	Overseas Series Class	Pair Corr
0.89	RISAX	Rainier International	Pair Corr
0.87	MHYWX	Manning Napier High	Pair Corr
0.93	CGRGX	American Funds Growth	Pair Corr
0.93	FPGGX	American Funds Growth	Pair Corr
0.93	FGPGX	American Funds Growth	Pair Corr
0.94	MUTHX	Franklin Mutual Shares	Pair Corr
0.9	TESRX	Franklin Mutual Shares	Pair Corr
0.94	FMSHX	Franklin Mutual Shares	Pair Corr
0.93	GWPCX	American Funds Growth	Pair Corr
0.93	GWPFX	American Funds Growth	Pair Corr
0.9	GWPAX	American Funds Growth	Pair Corr
0.93	CGQGX	American Funds Growth	Pair Corr
0.9	ASG	Liberty All Star	Pair Corr
0.81	CII	Blackrock Enhanced	Pair Corr
0.85	ETV	Eaton Vance Tax	Pair Corr
0.91	CLM	Cornerstone Strategic	Pair Corr

Moving against Pro-blend(r) Mutual Fund

0.35

IFN

India Closed

Pair Corr

Related Correlations Analysis

	CEIIX	CEIZX	CEISX	MNBAX	MNBIX	MNCPX	MNCRX	MNCWX	MNDFX	MNBRX
CEIIX		1.0	1.0	0.87	0.87	0.83	0.87	0.88	0.94	0.86	CEIIX
CEIZX	1.0		1.0	0.87	0.87	0.83	0.87	0.88	0.94	0.86	CEIZX
CEISX	1.0	1.0		0.87	0.87	0.83	0.88	0.88	0.94	0.86	CEISX
MNBAX	0.87	0.87	0.87		1.0	0.83	0.95	0.94	0.94	1.0	MNBAX
MNBIX	0.87	0.87	0.87	1.0		0.83	0.95	0.95	0.94	1.0	MNBIX
MNCPX	0.83	0.83	0.83	0.83	0.83		0.93	0.94	0.84	0.82	MNCPX
MNCRX	0.87	0.87	0.88	0.95	0.95	0.93		1.0	0.91	0.94	MNCRX
MNCWX	0.88	0.88	0.88	0.94	0.95	0.94	1.0		0.92	0.94	MNCWX
MNDFX	0.94	0.94	0.94	0.94	0.94	0.84	0.91	0.92		0.94	MNDFX
MNBRX	0.86	0.86	0.86	1.0	1.0	0.82	0.94	0.94	0.94		MNBRX
	CEIIX	CEIZX	CEISX	MNBAX	MNBIX	MNCPX	MNCRX	MNCWX	MNDFX	MNBRX

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CEIIX	0.77	0.02	0.04	0.13	0.71	(0.89)	1.85	(1.50)	4.26
CEIZX	0.78	0.02	0.04	0.13	0.71	(0.86)	1.84	(1.50)	4.18
CEISX	0.76	0.03	0.04	0.13	0.70	(0.85)	1.90	(1.51)	4.20
MNBAX	0.33	(0.01)	(0.14)	0.10	0.26	(0.38)	0.76	(0.59)	1.91
MNBIX	0.32	0.00	(0.14)	0.11	0.25	(0.37)	0.76	(0.59)	1.85
MNCPX	0.11	0.01	(0.55)	0.68	0.00	(0.17)	0.20	(0.20)	0.91
MNCRX	0.18	0.01	(0.29)	0.18	0.00	(0.23)	0.45	(0.37)	1.05
MNCWX	0.19	0.02	(0.30)	0.19	0.00	(0.25)	0.45	(0.37)	1.05
MNDFX	0.54	0.04	0.04	0.16	0.40	(0.65)	1.29	(0.94)	3.21
MNBRX	0.32	0.00	(0.14)	0.10	0.25	(0.37)	0.76	(0.59)	1.85

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