Pro Blend Correlations

Mutual Funds . USA . 
Fund . Pro Blend Extended Term
MNBRX Fund  USD 19.81  0.18  0.92%   
The current 90-days correlation between Pro Blend Extended and Goldman Sachs Technology is -0.06 (i.e., Good diversification). 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

Very weak diversification

The correlation between Pro Blend Extended Term and DJI is 0.43 (i.e., Very 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 metropolitan statistical area.

Moving together with Pro Mutual Fund

  0.88CEIIX Manning Napier CallodinePairCorr
  0.9CEIZX Manning Napier CallodinePairCorr
  0.9CEISX Manning Napier CallodinePairCorr
  0.94MNBAX Pro-blend(r) ExtendedPairCorr
  1.0MNBIX Pro-blend(r) ExtendedPairCorr
  0.78MNCRX Pro-blend(r) ConservativePairCorr
  0.73MNCWX Manning Napier ProPairCorr
  0.88MNDFX Disciplined Value SeriesPairCorr
  0.93MNBWX Manning Napier ProPairCorr
  0.8MNCCX Pro-blend(r) ConservativePairCorr
  0.75MNCIX Pro Blend ServativePairCorr
  0.93MNECX Pro Blend ExtendedPairCorr
  0.92MNHCX Pro-blend(r) MaximumPairCorr
  0.97MNHIX Pro-blend(r) MaximumPairCorr
  0.97MNHRX Pro-blend(r) MaximumPairCorr
  0.97MNHWX Manning Napier ProPairCorr
  0.93MNMCX Pro-blend(r) ModeratePairCorr
  1.0MNMIX Pro-blend(r) ModeratePairCorr
  0.84MNMRX Pro Blend ModeratePairCorr
  0.93MNMWX Manning Napier ProPairCorr
  0.74MNOSX Manning Napier OverseasPairCorr
  0.76MNOWX Manning Napier OverseasPairCorr
  0.72MNOZX Manning Napier OverseasPairCorr
  0.77RAIIX Rainier InternationalPairCorr
  0.85RAIRX Rainier InternationalPairCorr
  0.76RAIWX Manning Napier RainierPairCorr
  0.89MCBWX Manning Napier CorePairCorr
  0.8MCBZX Manning Napier CorePairCorr
  0.88MDFSX Disciplined Value SeriesPairCorr
  0.89MDVWX Manning Napier DisciPairCorr
  0.88MDVZX Manning Napier DisciPairCorr
  0.91EXBAX 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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