Pro-blend(r) Maximum Correlations

Mutual Funds . USA . 
Fund . Pro Blend Maximum Term
MNHCX Fund  USD 25.00  0.29  1.15%   
The current 90-days correlation between Pro-blend(r) Maximum and Pro Blend Extended Term is 1.0 (i.e., No risk reduction). The correlation of Pro-blend(r) Maximum 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(r) Maximum Correlation With Market

Very poor diversification

The correlation between Pro Blend Maximum Term and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Maximum 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 Maximum 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 services.

Moving together with Pro-blend(r) Mutual Fund

  0.93CEIIX Manning Napier CallodinePairCorr
  0.93CEIZX Manning Napier CallodinePairCorr
  0.93CEISX Manning Napier CallodinePairCorr
  1.0MNBAX Pro-blend(r) ExtendedPairCorr
  1.0MNBIX Pro-blend(r) ExtendedPairCorr
  0.84MNCPX Unconstrained Bond SeriesPairCorr
  0.89MNCRX Pro-blend(r) ConservativePairCorr
  0.9MNCWX Manning Napier ProPairCorr
  0.93MNDFX Disciplined Value SeriesPairCorr
  1.0MNBRX Pro-blend(r) ExtendedPairCorr
  1.0MNBWX Manning Napier ProPairCorr
  0.87MNCCX Pro-blend(r) ConservativePairCorr
  0.9MNCIX Pro-blend(r) ConservativePairCorr
  0.78MNDWX Manning Napier DiverPairCorr
  1.0MNECX Pro-blend(r) ExtendedPairCorr
  0.9MNHAX High Yield BondPairCorr
  0.89MNHIX Pro-blend(r) MaximumPairCorr
  1.0MNHRX Pro-blend(r) MaximumPairCorr
  1.0MNHWX Manning Napier ProPairCorr
  0.91MNHYX High Yield BondPairCorr
  1.0MNMCX Pro-blend(r) ModeratePairCorr
  1.0MNMIX Pro-blend(r) ModeratePairCorr
  1.0MNMRX Pro-blend(r) ModeratePairCorr
  1.0MNMWX Manning Napier ProPairCorr
  0.87MNOSX Manning Napier OverseasPairCorr
  0.87MNOZX Manning Napier OverseasPairCorr
  0.82RAIIX Rainier InternationalPairCorr
  0.82RAIRX Rainier InternationalPairCorr
  0.83RAIWX Manning Napier RainierPairCorr
  0.82MCDIX Manning Napier CreditPairCorr
  0.8MCDSX Manning Napier CreditPairCorr
  0.79MCDWX Manning Napier CreditPairCorr
  0.85MUBWX Manning Napier UnconPairCorr
  0.93MDFSX Disciplined Value SeriesPairCorr
  0.93MDVWX Manning Napier DisciPairCorr
  0.93MDVZX Manning Napier DisciPairCorr
  0.98EXBAX Pro-blend(r) ModeratePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Pro-blend(r) Mutual Fund performing well and Pro-blend(r) Maximum 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(r) Maximum'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CEIIX  0.77  0.28  0.32  0.57  0.27 
(0.96)
 2.04 
(1.10)
 8.89 
CEIZX  0.77  0.28  0.34  0.58  0.20 
(0.95)
 1.95 
(1.10)
 8.81 
CEISX  0.77  0.28  0.33  0.57  0.23 
(1.01)
 2.05 
(1.11)
 8.86 
MNBAX  0.55  0.15  0.20  0.50  0.14 
(0.71)
 0.88 
(0.81)
 10.15 
MNBIX  0.55  0.15  0.20  0.50  0.13 
(0.71)
 0.88 
(0.82)
 10.19 
MNCPX  0.07  0.02 (0.44) 1.39  0.00 
(0.12)
 0.20 
(0.10)
 0.31 
MNCRX  0.17  0.00 (0.25) 0.09  0.06 
(0.23)
 0.37 
(0.37)
 0.97 
MNCWX  0.18  0.01 (0.21) 0.10  0.07 
(0.22)
 0.38 
(0.37)
 1.04 
MNDFX  0.74  0.28  0.37  0.49  0.00 
(1.06)
 1.73 
(1.00)
 7.96 
MNBRX  0.55  0.15  0.19  0.49  0.16 
(0.71)
 0.88 
(0.80)
 10.20 

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