Manning Napier Correlations

MNCWX Fund

USD 13.06 0.02 0.15%

The current 90-days correlation between Manning Napier Pro and Gabelli Convertible And is 0.27 (i.e., Modest 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

Weak diversification

The correlation between Manning Napier Pro Blend and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manning Napier Pro Blend 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 Pro Blend. 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

0.77	MNBAX	Pro-blend(r) Extended	Pair Corr
0.78	MNBIX	Pro-blend(r) Extended	Pair Corr
0.84	MNCPX	Unconstrained Bond Series	Pair Corr
0.99	MNCRX	Pro-blend(r) Conservative	Pair Corr
0.77	MNBRX	Pro-blend(r) Extended	Pair Corr
0.79	MNBWX	Manning Napier Pro	Pair Corr
0.98	MNCCX	Pro-blend(r) Conservative	Pair Corr
1.0	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.67	MNDWX	Manning Napier Diver	Pair Corr
0.76	MNECX	Pro-blend(r) Extended	Pair Corr
0.64	MNHAX	High Yield Bond	Pair Corr
0.71	MNMCX	Pro-blend(r) Moderate	Pair Corr
0.73	MNMIX	Pro-blend(r) Moderate	Pair Corr
0.72	MNMRX	Pro-blend(r) Moderate	Pair Corr
0.75	MNMWX	Manning Napier Pro	Pair Corr
0.81	MNOSX	Manning Napier Overseas	Pair Corr
0.81	MNOWX	Manning Napier Overseas	Pair Corr
0.81	MNOZX	Manning Napier Overseas	Pair Corr
0.84	RAIIX	Rainier International	Pair Corr
0.84	RAIRX	Rainier International	Pair Corr
0.85	RAIWX	Manning Napier Rainier	Pair Corr
0.79	MCBWX	Manning Napier Core	Pair Corr
0.79	MCBZX	Manning Napier Core	Pair Corr
0.9	MCDWX	Manning Napier Credit	Pair Corr
0.79	MUBWX	Manning Napier Uncon	Pair Corr
0.72	EXBAX	Pro Blend Moderate	Pair Corr
0.85	EXCPX	Unconstrained Bond Series	Pair Corr

Related Correlations Analysis

	GCV	VAADX	PBXIX	CCD	ARBOX
GCV		0.9	0.55	0.1	0.18	GCV
VAADX	0.9		0.72	0.02	0.28	VAADX
PBXIX	0.55	0.72		-0.36	0.75	PBXIX
CCD	0.1	0.02	-0.36		-0.59	CCD
ARBOX	0.18	0.28	0.75	-0.59		ARBOX
	GCV	VAADX	PBXIX	CCD	ARBOX

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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

VAADX	+ 0.9	GCV
ARBOX	+ 0.75	PBXIX
PBXIX	+ 0.72	VAADX
PBXIX	+ 0.55	GCV
ARBOX	+ 0.28	VAADX
ARBOX	+ 0.18	GCV

High negative correlations

ARBOX	- 0.59	CCD
CCD	- 0.36	PBXIX

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
GCV	1.00	0.08	0.03	0.25	1.17	(1.06)	1.89	(1.55)	5.96
VAADX	0.60	0.10	0.04	2.61	0.66	(0.70)	1.19	(0.97)	4.02
PBXIX	0.40	0.01	(0.09)	0.93	0.55	(0.41)	0.81	(0.80)	3.28
CCD	0.69	0.00	(0.06)	0.08	0.93	(0.71)	1.54	(1.54)	4.87
ARBOX	0.06	(0.01)	(0.13)	(0.25)	0.18	(0.09)	0.09	(0.09)	1.33

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