Manning Napier Correlations

MNHWX Fund

USD 27.50 0.14 0.51%

The current 90-days correlation between Manning Napier Pro and Manning Napier Callodine is 0.71 (i.e., Poor 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

Poor diversification

The correlation between Manning Napier Pro Blend and DJI is 0.78 (i.e., Poor 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

0.88	CEIIX	Manning Napier Callodine	Pair Corr
0.88	CEIZX	Manning Napier Callodine	Pair Corr
0.88	CEISX	Manning Napier Callodine	Pair Corr
0.87	MNDFX	Disciplined Value Series	Pair Corr
1.0	MNHCX	Pro-blend(r) Maximum	Pair Corr
0.71	MNHAX	High Yield Bond	Pair Corr
1.0	MNHIX	Pro-blend(r) Maximum	Pair Corr
1.0	MNHRX	Pro-blend(r) Maximum	Pair Corr
0.7	MNHYX	High Yield Bond	Pair Corr
0.87	MDFSX	Disciplined Value Series	Pair Corr
0.87	MDVWX	Manning Napier Disci	Pair Corr
0.87	MDVZX	Manning Napier Disci	Pair Corr

Moving against Manning Mutual Fund

0.57	MCBZX	Manning Napier Core	Pair Corr
0.57	EXCIX	Core Bond Series	Pair Corr
0.55	EXCRX	Core Bond Series	Pair Corr
0.52	MCBWX	Manning Napier Core	Pair Corr
0.4	MCDWX	Manning Napier Credit	Pair Corr
0.31	EXDVX	Diversified Tax Exempt	Pair Corr

Related Correlations Analysis

	CEIIX	CEIZX	CEISX	MNBAX	MNBIX	MNCPX	MNCRX	MNCWX	MNDFX	MNBRX
CEIIX		1.0	1.0	-0.03	0.0	-0.46	-0.44	-0.38	0.93	-0.05	CEIIX
CEIZX	1.0		1.0	-0.03	0.0	-0.45	-0.44	-0.38	0.93	-0.05	CEIZX
CEISX	1.0	1.0		-0.02	0.0	-0.45	-0.44	-0.38	0.93	-0.05	CEISX
MNBAX	-0.03	-0.03	-0.02		1.0	0.76	0.83	0.85	-0.05	1.0	MNBAX
MNBIX	0.0	0.0	0.0	1.0		0.75	0.81	0.84	-0.02	1.0	MNBIX
MNCPX	-0.46	-0.45	-0.45	0.76	0.75		0.94	0.94	-0.52	0.77	MNCPX
MNCRX	-0.44	-0.44	-0.44	0.83	0.81	0.94		1.0	-0.5	0.84	MNCRX
MNCWX	-0.38	-0.38	-0.38	0.85	0.84	0.94	1.0		-0.45	0.86	MNCWX
MNDFX	0.93	0.93	0.93	-0.05	-0.02	-0.52	-0.5	-0.45		-0.07	MNDFX
MNBRX	-0.05	-0.05	-0.05	1.0	1.0	0.77	0.84	0.86	-0.07		MNBRX
	CEIIX	CEIZX	CEISX	MNBAX	MNBIX	MNCPX	MNCRX	MNCWX	MNDFX	MNBRX

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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

CEIZX	+ 1.0	CEIIX
CEISX	+ 1.0	CEIIX
CEISX	+ 1.0	CEIZX
MNBIX	+ 1.0	MNBAX
MNBRX	+ 1.0	MNBAX
MNBRX	+ 1.0	MNBIX

High negative correlations

MNDFX	- 0.52	MNCPX
MNDFX	- 0.5	MNCRX
MNCPX	- 0.46	CEIIX
MNDFX	- 0.45	MNCWX
MNCPX	- 0.45	CEISX
MNCPX	- 0.45	CEIZX

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
CEIIX	0.70	0.07	0.07	0.21	0.44	(0.92)	1.94	(1.17)	4.63
CEIZX	0.70	0.07	0.07	0.22	0.43	(0.91)	1.93	(1.17)	4.63
CEISX	0.70	0.07	0.07	0.21	0.44	(0.92)	1.94	(1.18)	4.58
MNBAX	0.31	(0.04)	(0.29)	(0.01)	0.41	(0.30)	0.60	(0.63)	1.83
MNBIX	0.30	(0.04)	(0.29)	(0.01)	0.40	(0.30)	0.59	(0.64)	1.87
MNCPX	0.11	(0.01)	0.00	0.86	0.00	0.00	0.20	(0.20)	0.91
MNCRX	0.17	(0.03)	0.00	(0.16)	0.00	0.00	0.30	(0.44)	1.05
MNCWX	0.16	(0.02)	0.00	(0.13)	0.00	0.00	0.30	(0.44)	1.04
MNDFX	0.60	0.00	(0.02)	0.12	0.45	(0.74)	1.22	(1.01)	4.44
MNBRX	0.30	(0.05)	(0.29)	(0.01)	0.41	(0.30)	0.59	(0.64)	1.82

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