Pro Blend Correlations

Mutual Funds . USA . 
Fund . Pro Blend Moderate Term
MNMCX Fund  USD 15.25  0.04  0.26%   
The current 90-days correlation between Pro Blend Moderate and Summit Global Investments is 0.71 (i.e., Poor 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 Moderate Term and DJI is 0.81 (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 Moderate 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 Moderate 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 private.

Moving together with Pro Mutual Fund

  1.0MNBAX Pro Blend ExtendedPairCorr
  0.99MNBIX Pro Blend ExtendedPairCorr
  0.71MNCPX Unconstrained Bond SeriesPairCorr
  0.95MNCRX Pro Blend ServativePairCorr
  0.93MNCWX Manning Napier ProPairCorr
  0.65MNDFX Disciplined Value SeriesPairCorr
  0.99MNBRX Pro Blend ExtendedPairCorr
  0.99MNBWX Manning Napier ProPairCorr
  0.96MNCCX Pro Blend ServativePairCorr
  0.94MNCIX Pro Blend ServativePairCorr
  0.65MNDWX Manning Napier DiverPairCorr
  0.99MNECX Pro-blend(r) ExtendedPairCorr
  0.95MNHCX Pro-blend(r) MaximumPairCorr
  0.96MNHIX Pro-blend(r) MaximumPairCorr
  0.96MNHRX Pro-blend(r) MaximumPairCorr
  0.96MNHWX Manning Napier ProPairCorr
  1.0MNMIX Pro-blend(r) ModeratePairCorr
  1.0MNMRX Pro-blend(r) ModeratePairCorr
  0.99MNMWX Manning Napier ProPairCorr
  0.74MCDIX Manning Napier CreditPairCorr
  0.76MCBWX Manning Napier CorePairCorr
  0.74MCBZX Manning Napier CorePairCorr
  0.75MCDSX Manning Napier CreditPairCorr
  0.74MCDWX Manning Napier CreditPairCorr
  0.69MUBWX Manning Napier UnconPairCorr
  0.64MDFSX Disciplined Value SeriesPairCorr
  0.65MDVWX Manning Napier DisciPairCorr
  0.64MDVZX Manning Napier DisciPairCorr
  1.0EXBAX Pro-blend(r) ModeratePairCorr

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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