Pro-blend(r) Moderate Correlations

EXBAX Fund

USD 14.62 0.03 0.20%

The current 90-days correlation between Pro-blend(r) Moderate and Federated Mdt Balanced is 0.26 (i.e., Modest diversification). The correlation of Pro-blend(r) Moderate 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) Moderate Correlation With Market

Very poor diversification

The correlation between Pro Blend Moderate Term and DJI is 0.82 (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 Investing Opportunities 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 nation.

Moving together with Pro-blend(r) Mutual Fund

0.9	CEIIX	Manning Napier Callodine	Pair Corr
0.9	CEIZX	Manning Napier Callodine	Pair Corr
0.9	CEISX	Manning Napier Callodine	Pair Corr
1.0	MNBAX	Pro-blend(r) Extended	Pair Corr
1.0	MNBIX	Pro-blend(r) Extended	Pair Corr
0.77	MNCPX	Unconstrained Bond Series	Pair Corr
0.89	MNCRX	Pro-blend(r) Conservative	Pair Corr
0.9	MNCWX	Manning Napier Pro	Pair Corr
0.9	MNDFX	Disciplined Value Series	Pair Corr
1.0	MNBRX	Pro-blend(r) Extended	Pair Corr
1.0	MNBWX	Manning Napier Pro	Pair Corr
0.89	MNCCX	Pro-blend(r) Conservative	Pair Corr
0.9	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.72	MNDWX	Manning Napier Diver	Pair Corr
0.99	MNECX	Pro-blend(r) Extended	Pair Corr
0.99	MNHCX	Pro-blend(r) Maximum	Pair Corr
0.88	MNHAX	High Yield Bond	Pair Corr
0.86	MNHIX	Pro-blend(r) Maximum	Pair Corr
0.99	MNHRX	Pro-blend(r) Maximum	Pair Corr
1.0	MNHWX	Manning Napier Pro	Pair Corr
0.88	MNHYX	High Yield Bond	Pair Corr
1.0	MNMCX	Pro-blend(r) Moderate	Pair Corr
1.0	MNMIX	Pro-blend(r) Moderate	Pair Corr
1.0	MNMRX	Pro-blend(r) Moderate	Pair Corr
1.0	MNMWX	Manning Napier Pro	Pair Corr
0.87	MNOSX	Manning Napier Overseas	Pair Corr
0.88	MNOZX	Manning Napier Overseas	Pair Corr
0.79	RAIIX	Rainier International	Pair Corr
0.79	RAIRX	Rainier International	Pair Corr
0.8	RAIWX	Manning Napier Rainier	Pair Corr
0.66	MCDIX	Manning Napier Credit	Pair Corr
0.67	MCDSX	Manning Napier Credit	Pair Corr
0.64	MCDWX	Manning Napier Credit	Pair Corr
0.79	MUBWX	Manning Napier Uncon	Pair Corr
0.9	MDFSX	Disciplined Value Series	Pair Corr
0.9	MDVWX	Manning Napier Disci	Pair Corr
0.9	MDVZX	Manning Napier Disci	Pair Corr

Related Correlations Analysis

	DTLGX	TWSCX	EXHAX	HFCVX	BACAX	DISMX	SEVPX	FACEX	FWRLX	QIBGX
DTLGX		-0.23	-0.02	-0.51	-0.69	-0.31	0.0	0.04	-0.49	-0.08	DTLGX
TWSCX	-0.23		0.77	0.92	0.8	0.97	0.0	0.61	0.8	0.8	TWSCX
EXHAX	-0.02	0.77		0.69	0.42	0.8	0.0	0.93	0.33	0.91	EXHAX
HFCVX	-0.51	0.92	0.69		0.89	0.92	0.0	0.56	0.85	0.76	HFCVX
BACAX	-0.69	0.8	0.42	0.89		0.82	0.0	0.24	0.91	0.45	BACAX
DISMX	-0.31	0.97	0.8	0.92	0.82		0.0	0.64	0.75	0.79	DISMX
SEVPX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SEVPX
FACEX	0.04	0.61	0.93	0.56	0.24	0.64	0.0		0.17	0.89	FACEX
FWRLX	-0.49	0.8	0.33	0.85	0.91	0.75	0.0	0.17		0.43	FWRLX
QIBGX	-0.08	0.8	0.91	0.76	0.45	0.79	0.0	0.89	0.43		QIBGX
	DTLGX	TWSCX	EXHAX	HFCVX	BACAX	DISMX	SEVPX	FACEX	FWRLX	QIBGX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DISMX	+ 0.97	TWSCX
FACEX	+ 0.93	EXHAX
HFCVX	+ 0.92	TWSCX
DISMX	+ 0.92	HFCVX
QIBGX	+ 0.91	EXHAX
FWRLX	+ 0.91	BACAX

High negative correlations

BACAX	- 0.69	DTLGX
HFCVX	- 0.51	DTLGX
FWRLX	- 0.49	DTLGX
DISMX	- 0.31	DTLGX
TWSCX	- 0.23	DTLGX
QIBGX	- 0.08	DTLGX

Risk-Adjusted Indicators

There is a big difference between Pro-blend(r) Mutual Fund performing well and Pro-blend(r) Moderate 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) Moderate'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
DTLGX	0.78	0.01	(0.09)	0.06	1.16	(0.74)	1.55	(2.07)	5.18
TWSCX	0.29	0.07	(0.11)	(1.07)	0.17	(0.36)	0.70	(0.53)	1.78
EXHAX	0.76	0.28	0.17	(0.72)	0.48	(0.99)	1.26	(1.26)	12.83
HFCVX	0.55	0.27	0.28	(4.45)	0.00	(0.70)	1.24	(0.89)	6.26
BACAX	0.91	0.28	0.15	(3.96)	0.76	(1.05)	1.95	(1.53)	4.45
DISMX	0.59	0.22	0.11	(1.09)	0.52	(0.68)	1.41	(1.03)	3.57
SEVPX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FACEX	1.19	0.48	0.25	(0.49)	0.65	(1.58)	1.33	(1.91)	32.12
FWRLX	0.65	0.16	0.04	(0.90)	0.68	(0.71)	1.31	(1.62)	3.14
QIBGX	0.53	0.21	0.13	(0.80)	0.00	(0.71)	0.90	(0.85)	9.43

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