Manning Napier Correlations

MHYWX Fund

USD 9.92 0.01 0.10%

The current 90-days correlation between Manning Napier High and Manning Napier Callodine is 0.32 (i.e., Weak 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

Modest diversification

The correlation between Manning Napier High and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manning Napier High 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 High. 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	MNCPX	Unconstrained Bond Series	Pair Corr
0.75	MNCRX	Pro-blend(r) Conservative	Pair Corr
0.81	MNCWX	Manning Napier Pro	Pair Corr
0.72	MNCCX	Pro-blend(r) Conservative	Pair Corr
0.77	MNCIX	Pro-blend(r) Conservative	Pair Corr
1.0	MNHAX	High Yield Bond	Pair Corr
1.0	MNHYX	High Yield Bond	Pair Corr
0.92	MNOSX	Manning Napier Overseas	Pair Corr
0.93	MNOWX	Manning Napier Overseas	Pair Corr
0.92	MNOZX	Manning Napier Overseas	Pair Corr
0.61	RAIWX	Manning Napier Rainier	Pair Corr
0.73	MCDWX	Manning Napier Credit	Pair Corr
0.96	MUBWX	Manning Napier Uncon	Pair Corr
0.93	EXCPX	Unconstrained Bond Series	Pair Corr

Related Correlations Analysis

	CEIIX	CEIZX	CEISX	MNBAX	MNBIX	MNCPX	MNCRX	MNCWX	MNDFX	MNBRX
CEIIX		0.96	1.0	0.71	0.7	-0.1	0.32	0.23	0.97	0.72	CEIIX
CEIZX	0.96		0.96	0.71	0.71	-0.07	0.35	0.26	0.92	0.72	CEIZX
CEISX	1.0	0.96		0.71	0.7	-0.1	0.31	0.22	0.97	0.71	CEISX
MNBAX	0.71	0.71	0.71		1.0	0.57	0.88	0.83	0.77	1.0	MNBAX
MNBIX	0.7	0.71	0.7	1.0		0.58	0.88	0.84	0.76	1.0	MNBIX
MNCPX	-0.1	-0.07	-0.1	0.57	0.58		0.87	0.91	0.04	0.56	MNCPX
MNCRX	0.32	0.35	0.31	0.88	0.88	0.87		0.99	0.4	0.87	MNCRX
MNCWX	0.23	0.26	0.22	0.83	0.84	0.91	0.99		0.33	0.83	MNCWX
MNDFX	0.97	0.92	0.97	0.77	0.76	0.04	0.4	0.33		0.77	MNDFX
MNBRX	0.72	0.72	0.71	1.0	1.0	0.56	0.87	0.83	0.77		MNBRX
	CEIIX	CEIZX	CEISX	MNBAX	MNBIX	MNCPX	MNCRX	MNCWX	MNDFX	MNBRX

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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

CEISX	+ 1.0	CEIIX
MNBIX	+ 1.0	MNBAX
MNBRX	+ 1.0	MNBAX
MNBRX	+ 1.0	MNBIX
MNCWX	+ 0.99	MNCRX
MNDFX	+ 0.97	CEIIX

High negative correlations

MNCPX	- 0.1	CEISX
MNCPX	- 0.1	CEIIX
MNCPX	- 0.07	CEIZX

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
CEIIX	0.79	(0.15)	0.00	(0.26)	0.00	0.00	1.42	(1.56)	11.54
CEIZX	0.81	(0.13)	0.00	(0.51)	0.00	0.00	1.42	(1.56)	11.40
CEISX	0.79	(0.15)	0.00	(0.26)	0.00	0.00	1.43	(1.57)	11.51
MNBAX	0.40	0.00	0.00	0.01	0.71	(0.37)	0.91	(0.75)	3.42
MNBIX	0.40	0.00	0.00	0.01	0.70	(0.38)	0.85	(0.75)	3.41
MNCPX	0.11	0.02	0.10	0.53	0.00	(0.15)	0.21	(0.20)	0.62
MNCRX	0.21	0.02	0.05	0.15	0.21	(0.27)	0.46	(0.38)	1.84
MNCWX	0.21	0.03	0.06	0.18	0.18	(0.26)	0.39	(0.38)	1.85
MNDFX	0.70	(0.12)	0.00	(0.18)	0.00	0.00	1.12	(1.22)	9.01
MNBRX	0.39	0.00	(0.01)	0.00	0.67	(0.38)	0.85	(0.75)	3.35

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