Pro-blend(r) Maximum Correlations

Mutual Funds . USA . 
Fund . Pro Blend Maximum Term
MNHIX Fund  USD 25.59  0.07  0.27%   
The current 90-days correlation between Pro-blend(r) Maximum and Columbia Large Cap is 0.54 (i.e., Very weak diversification). 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 0.86 (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 gross domestic product.

Moving together with Pro-blend(r) Mutual Fund

  0.83CEIIX Manning Napier CallodinePairCorr
  0.83CEIZX Manning Napier CallodinePairCorr
  0.84CEISX Manning Napier CallodinePairCorr
  0.88MNBAX Pro-blend(r) ExtendedPairCorr
  0.88MNBIX Pro-blend(r) ExtendedPairCorr
  0.83MNCPX Unconstrained Bond SeriesPairCorr
  0.98MNCRX Pro-blend(r) ConservativePairCorr
  0.97MNCWX Manning Napier ProPairCorr
  0.82MNDFX Disciplined Value SeriesPairCorr
  0.88MNBRX Pro-blend(r) ExtendedPairCorr
  0.88MNBWX Manning Napier ProPairCorr
  0.98MNCCX Pro-blend(r) ConservativePairCorr
  0.98MNCIX Pro-blend(r) ConservativePairCorr
  0.76MNDWX Manning Napier DiverPairCorr
  0.88MNECX Pro-blend(r) ExtendedPairCorr
  0.9MNHCX Pro-blend(r) MaximumPairCorr
  0.9MNHAX High Yield BondPairCorr
  0.9MNHRX Pro-blend(r) MaximumPairCorr
  0.9MNHWX Manning Napier ProPairCorr
  0.89MNHYX High Yield BondPairCorr
  0.92MNMCX Pro-blend(r) ModeratePairCorr
  0.92MNMIX Pro-blend(r) ModeratePairCorr
  0.92MNMRX Pro-blend(r) ModeratePairCorr
  0.92MNMWX Manning Napier ProPairCorr
  0.97MNOSX Manning Napier OverseasPairCorr
  0.97MNOZX Manning Napier OverseasPairCorr
  0.84RAIIX Rainier InternationalPairCorr
  0.84RAIRX Rainier InternationalPairCorr
  0.84RAIWX Manning Napier RainierPairCorr
  0.81MCDIX Manning Napier CreditPairCorr
  0.81MCDSX Manning Napier CreditPairCorr
  0.78MCDWX Manning Napier CreditPairCorr
  0.84MUBWX Manning Napier UnconPairCorr
  0.82MDFSX Disciplined Value SeriesPairCorr
  0.82MDVWX Manning Napier DisciPairCorr
  0.82MDVZX Manning Napier DisciPairCorr
  0.92EXBAX 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
MNBAX  0.55  0.16  0.18  0.55  0.04 
(0.70)
 0.88 
(0.81)
 10.15 
SPWYX  0.97 (0.05)(0.02) 0.05  1.14 
(1.04)
 1.97 
(2.04)
 5.02 
HLEMX  0.50  0.02 (0.09)(0.95) 0.70 
(0.56)
 0.97 
(1.16)
 3.38 
PRCNX  0.70  0.32  0.35  0.84  0.00 
(0.89)
 1.29 
(0.98)
 12.21 
FLDGX  0.64  0.12  0.16  0.22  0.41 
(0.79)
 1.22 
(1.08)
 8.84 
BACPX  0.21  0.03 (0.19) 0.78  0.17 
(0.24)
 0.44 
(0.44)
 1.14 
FLDFX  0.45  0.06  0.05  0.19  0.29 
(0.55)
 0.95 
(0.96)
 4.03 
HULEX  0.56  0.02  0.01  0.12  0.62 
(0.61)
 1.11 
(1.31)
 3.74 
OMAH  0.42  0.01 (0.13) 0.33  0.51 
(0.42)
 0.71 
(0.82)
 2.47 
NMIAX  0.75  0.11  0.13  0.20  0.59 
(0.96)
 1.54 
(1.34)
 13.61 

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