Manning Napier Correlations

MCDIX Fund

9.09 0.01 0.11%

The current 90-days correlation between Manning Napier Credit and Vanguard Total Stock is 0.13 (i.e., Average diversification). The correlation of Manning Napier 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.

Manning Napier Correlation With Market

Average diversification

The correlation between Manning Napier Credit and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manning Napier Credit and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. 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 Manning Mutual Fund

0.82	VGTSX	Vanguard Total Inter	Pair Corr
0.82	VTIAX	Vanguard Total Inter	Pair Corr
0.73	VEMBX	Vanguard Emerging Markets	Pair Corr

Moving against Manning Mutual Fund

0.55	BTCVX	Cboe Vest Bitcoin	Pair Corr
0.48	FIVUX	First Investors Oppo	Pair Corr
0.43	VTSAX	Vanguard Total Stock	Pair Corr
0.43	VTSMX	Vanguard Total Stock	Pair Corr
0.43	VSTSX	Vanguard Total Stock	Pair Corr
0.43	VSMPX	Vanguard Total Stock	Pair Corr
0.42	VFFSX	Vanguard 500 Index	Pair Corr
0.42	FZROX	Fidelity Zero Total	Pair Corr
0.41	VITSX	Vanguard Total Stock	Pair Corr
0.4	VFIAX	Vanguard 500 Index	Pair Corr
0.4	VFINX	Vanguard 500 Index	Pair Corr
0.39	ELFNX	Elfun Trusts Elfun	Pair Corr
0.38	ACP	Aberdeen Income Credit	Pair Corr

Related Correlations Analysis

	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX
VTSAX		0.97	1.0	0.97	1.0	1.0	0.97	1.0	-0.43	-0.43	VTSAX
VFIAX	0.97		0.97	1.0	0.97	0.97	1.0	0.97	-0.41	-0.41	VFIAX
VTSMX	1.0	0.97		0.97	1.0	1.0	0.97	1.0	-0.43	-0.43	VTSMX
VITSX	0.97	1.0	0.97		0.97	0.97	1.0	0.97	-0.44	-0.43	VITSX
VSTSX	1.0	0.97	1.0	0.97		1.0	0.97	1.0	-0.43	-0.43	VSTSX
VSMPX	1.0	0.97	1.0	0.97	1.0		0.97	1.0	-0.43	-0.43	VSMPX
VFINX	0.97	1.0	0.97	1.0	0.97	0.97		0.97	-0.41	-0.41	VFINX
VFFSX	1.0	0.97	1.0	0.97	1.0	1.0	0.97		-0.4	-0.4	VFFSX
VGTSX	-0.43	-0.41	-0.43	-0.44	-0.43	-0.43	-0.41	-0.4		1.0	VGTSX
VTIAX	-0.43	-0.41	-0.43	-0.43	-0.43	-0.43	-0.41	-0.4	1.0		VTIAX
	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX

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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

VTSMX	+ 1.0	VTSAX
VSTSX	+ 1.0	VTSAX
VSMPX	+ 1.0	VTSAX
VFFSX	+ 1.0	VTSAX
VITSX	+ 1.0	VFIAX
VFINX	+ 1.0	VFIAX

High negative correlations

VGTSX	- 0.44	VITSX
VTIAX	- 0.43	VSMPX
VGTSX	- 0.43	VSMPX
VTIAX	- 0.43	VSTSX
VGTSX	- 0.43	VSTSX
VTIAX	- 0.43	VITSX

Risk-Adjusted Indicators

There is a big difference between Manning Mutual Fund performing well and Manning Napier 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 Manning Napier'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
VTSAX	0.51	0.07	0.08	0.20	0.39	(0.58)	1.01	(0.94)	4.11
VFIAX	0.48	0.14	0.05	1.98	0.40	(0.52)	1.07	(0.93)	3.84
VTSMX	0.51	0.07	0.08	0.20	0.39	(0.58)	1.01	(0.94)	4.11
VITSX	0.50	0.15	0.07	1.67	0.40	(0.57)	1.00	(0.94)	4.11
VSTSX	0.51	0.07	0.08	0.20	0.39	(0.58)	1.01	(0.94)	4.11
VSMPX	0.51	0.07	0.08	0.20	0.39	(0.58)	1.01	(0.94)	4.11
VFINX	0.48	0.14	0.05	1.96	0.40	(0.52)	1.07	(0.93)	3.84
VFFSX	0.48	0.07	0.06	0.20	0.38	(0.53)	1.07	(0.93)	3.84
VGTSX	0.58	(0.01)	(0.13)	0.07	0.68	(0.61)	1.15	(1.04)	4.09
VTIAX	0.58	(0.01)	(0.13)	0.07	0.68	(0.61)	1.15	(1.01)	4.11

Manning Napier Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Manning Napier mutual fund to make a market-neutral strategy. Peer analysis of Manning Napier could also be used in its relative valuation, which is a method of valuing Manning Napier by comparing valuation metrics with similar companies.

Vanguard Total Stock Vanguard 500 Index Vanguard Total Stock Vanguard Total Stock Vanguard Total Stock Vanguard Total Stock Vanguard 500 Index Vanguard 500 Index Vanguard Total International Vanguard Total International American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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