Manning Napier Correlations

MEYWX Fund

USD 13.12 0.07 0.54%

The current 90-days correlation between Manning Napier Equity and Large Cap Fund is 0.74 (i.e., Poor 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

Very poor diversification

The correlation between Manning Napier Equity 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 Manning Napier Equity 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 Manning Napier Equity. 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 housing.

Moving together with Manning Mutual Fund

0.94	CEIIX	Manning Napier Callodine	Pair Corr
0.94	CEIZX	Manning Napier Callodine	Pair Corr
0.94	CEISX	Manning Napier Callodine	Pair Corr
0.9	MNDFX	Disciplined Value Series	Pair Corr
0.92	MNHCX	Pro-blend(r) Maximum	Pair Corr
0.93	MNHIX	Pro-blend(r) Maximum	Pair Corr
0.93	MNHRX	Pro-blend(r) Maximum	Pair Corr
0.94	MNHWX	Manning Napier Pro	Pair Corr
0.91	MDFSX	Disciplined Value Series	Pair Corr
0.91	MDVWX	Manning Napier Disci	Pair Corr
0.9	MDVZX	Manning Napier Disci	Pair Corr

Moving against Manning Mutual Fund

0.55	MNOZX	Manning Napier Overseas	Pair Corr
0.54	MNOWX	Manning Napier Overseas	Pair Corr
0.51	MNCPX	Unconstrained Bond Series	Pair Corr
0.48	MNCCX	Pro-blend(r) Conservative	Pair Corr
0.47	MNCRX	Pro Blend Servative	Pair Corr
0.45	RAIIX	Rainier International	Pair Corr
0.44	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.44	RAIRX	Rainier International	Pair Corr
0.42	RAIWX	Manning Napier Rainier	Pair Corr
0.41	MNCWX	Manning Napier Pro	Pair Corr
0.41	MNDWX	Manning Napier Diver	Pair Corr
0.7	EXCRX	Core Bond Series	Pair Corr
0.68	MCBWX	Manning Napier Core	Pair Corr
0.63	MCBZX	Manning Napier Core	Pair Corr
0.62	EXCIX	Core Bond Series	Pair Corr
0.58	MCDWX	Manning Napier Credit	Pair Corr
0.55	EXOSX	Overseas Series Class	Pair Corr
0.5	EXCPX	Unconstrained Bond Series	Pair Corr
0.45	MUBWX	Manning Napier Uncon	Pair Corr
0.45	EXDVX	Diversified Tax Exempt	Pair Corr
0.45	RISAX	Rainier International	Pair Corr

Related Correlations Analysis

	FMIHX	FMIEX	WTIBX	BJBHX	MXXIX
FMIHX		0.14	-0.41	0.68	0.76	FMIHX
FMIEX	0.14		0.71	0.09	-0.24	FMIEX
WTIBX	-0.41	0.71		-0.35	-0.72	WTIBX
BJBHX	0.68	0.09	-0.35		0.83	BJBHX
MXXIX	0.76	-0.24	-0.72	0.83		MXXIX
	FMIHX	FMIEX	WTIBX	BJBHX	MXXIX

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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

MXXIX	+ 0.83	BJBHX
MXXIX	+ 0.76	FMIHX
WTIBX	+ 0.71	FMIEX
BJBHX	+ 0.68	FMIHX
FMIEX	+ 0.14	FMIHX
BJBHX	+ 0.09	FMIEX

High negative correlations

MXXIX	- 0.72	WTIBX
WTIBX	- 0.41	FMIHX
BJBHX	- 0.35	WTIBX
MXXIX	- 0.24	FMIEX

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
FMIHX	0.57	(0.04)	(0.11)	0.07	0.53	(0.67)	1.31	(0.94)	3.23
FMIEX	0.40	(0.02)	(0.19)	0.07	0.41	(0.47)	0.89	(0.79)	2.54
WTIBX	0.20	(0.03)	0.00	0.65	0.00	0.00	0.42	(0.63)	1.28
BJBHX	0.09	0.00	(0.46)	0.20	0.00	(0.17)	0.26	(0.26)	0.64
MXXIX	0.88	0.16	0.15	0.25	0.95	(1.02)	2.41	(1.37)	5.75

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