Pro Blend Correlations

Mutual Funds . USA . 
Fund . Pro Blend Extended Term
MNBAX Fund  USD 20.03  0.01  0.05%   
The current 90-days correlation between Pro Blend Extended and Pro Blend Moderate Term is 0.99 (i.e., No risk reduction). 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

Weak diversification

The correlation between Pro Blend Extended Term and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Extended 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 Extended 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 Mutual Fund

  0.76CEIIX Manning Napier CallodinePairCorr
  0.76CEIZX Manning Napier CallodinePairCorr
  0.76CEISX Manning Napier CallodinePairCorr
  1.0MNBIX Pro Blend ExtendedPairCorr
  0.86MNCRX Pro Blend ServativePairCorr
  0.8MNCWX Manning Napier ProPairCorr
  0.78MNDFX Disciplined Value SeriesPairCorr
  1.0MNBRX Pro-blend(r) ExtendedPairCorr
  1.0MNBWX Manning Napier ProPairCorr
  0.88MNCCX Pro-blend(r) ConservativePairCorr
  0.83MNCIX Pro-blend(r) ConservativePairCorr
  0.83MNDWX Manning Napier DiverPairCorr
  1.0MNECX Pro-blend(r) ExtendedPairCorr
  0.92MNHCX Pro-blend(r) MaximumPairCorr
  0.93MNHIX Pro-blend(r) MaximumPairCorr
  0.93MNHRX Pro-blend(r) MaximumPairCorr
  0.94MNHWX Manning Napier ProPairCorr
  0.99MNMCX Pro-blend(r) ModeratePairCorr
  0.99MNMIX Pro-blend(r) ModeratePairCorr
  0.99MNMRX Pro-blend(r) ModeratePairCorr
  1.0MNMWX Manning Napier ProPairCorr
  0.64MNOSX Manning Napier OverseasPairCorr
  0.63MNOWX Manning Napier OverseasPairCorr
  0.64MNOZX Manning Napier OverseasPairCorr
  0.84RAIIX Rainier InternationalPairCorr
  0.84RAIRX Rainier InternationalPairCorr
  0.83RAIWX Manning Napier RainierPairCorr
  0.89MCBWX Manning Napier CorePairCorr
  0.89MCBZX Manning Napier CorePairCorr
  0.76MCDWX Manning Napier CreditPairCorr
  0.77MDFSX Disciplined Value SeriesPairCorr
  0.78MDVWX Manning Napier DisciPairCorr
  0.78MDVZX Manning Napier DisciPairCorr
  0.99EXBAX Pro-blend(r) ModeratePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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