Pro-blend(r) Maximum Correlations

Mutual Funds USA . 
Fund . Pro Blend Maximum Term
MNHIX Fund  USD 25.46  0.07  0.27%   
The current 90-days correlation between Pro-blend(r) Maximum and Pro Blend Extended Term is 0.35 (i.e., 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

Poor diversification

The correlation between Pro Blend Maximum Term and DJI is 0.71 (i.e., 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

  0.78MNBAX Pro-blend(r) ExtendedPairCorr
  0.78MNBIX Pro-blend(r) ExtendedPairCorr
  0.83MNCRX Pro-blend(r) ConservativePairCorr
  0.81MNCWX Manning Napier ProPairCorr
  0.78MNBRX Pro-blend(r) ExtendedPairCorr
  0.78MNBWX Manning Napier ProPairCorr
  0.84MNCCX Pro-blend(r) ConservativePairCorr
  0.82MNCIX Pro-blend(r) ConservativePairCorr
  0.78MNECX Pro-blend(r) ExtendedPairCorr
  0.81MNHCX Pro-blend(r) MaximumPairCorr
  0.7MNHAX High Yield BondPairCorr
  0.81MNHRX Pro-blend(r) MaximumPairCorr
  0.81MNHWX Manning Napier ProPairCorr
  0.69MNHYX High Yield BondPairCorr
  0.83MNMCX Pro-blend(r) ModeratePairCorr
  0.82MNMIX Pro-blend(r) ModeratePairCorr
  0.82MNMRX Pro-blend(r) ModeratePairCorr
  0.82MNMWX Manning Napier ProPairCorr
  0.85MNOSX Manning Napier OverseasPairCorr
  0.85MNOZX Manning Napier OverseasPairCorr
  0.82EXBAX 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  0.75  0.28  0.30  0.52  0.34 
(0.88)
 1.71 
(1.33)
 8.89 
CEIZX  0.74  0.28  0.30  0.53  0.30 
(0.88)
 1.68 
(1.27)
 8.81 
CEISX  0.75  0.28  0.30  0.52  0.32 
(0.92)
 1.69 
(1.28)
 8.86 
MNBAX  0.54  0.16  0.21  0.57  0.00 
(0.71)
 0.88 
(0.87)
 10.15 
MNBIX  0.53  0.16  0.21  0.58  0.00 
(0.70)
 0.88 
(0.86)
 10.19 
MNCPX  0.07  0.02 (0.41)(1.28) 0.00 
(0.12)
 0.20 
(0.10)
 0.60 
MNCRX  0.16  0.01 (0.26) 0.13  0.00 
(0.21)
 0.37 
(0.22)
 0.96 
MNCWX  0.17  0.01 (0.22) 0.15  0.00 
(0.21)
 0.37 
(0.30)
 1.04 
MNDFX  0.69  0.27  0.38  0.52  0.00 
(0.97)
 1.73 
(0.95)
 8.19 
MNBRX  0.54  0.16  0.21  0.56  0.05 
(0.70)
 0.87 
(0.86)
 10.20 

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