Pro-blend(r) Moderate Correlations

Mutual Funds . USA . 
Fund . Pro Blend Moderate Term
MNMRX Fund  USD 14.98  0.02  0.13%   
The current 90-days correlation between Pro-blend(r) Moderate and Baird Smallmid Cap is 0.22 (i.e., Modest diversification). The correlation of Pro-blend(r) Moderate 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) Moderate Correlation With Market

Very weak diversification

The correlation between Pro Blend Moderate Term and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Moderate 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 Moderate 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 metropolitan statistical area.

Moving together with Pro-blend(r) Mutual Fund

  0.97MNBAX Pro-blend(r) ExtendedPairCorr
  0.97MNBIX Pro-blend(r) ExtendedPairCorr
  0.82MNCPX Unconstrained Bond SeriesPairCorr
  0.92MNCRX Pro-blend(r) ConservativePairCorr
  0.94MNCWX Manning Napier ProPairCorr
  0.98MNBRX Pro-blend(r) ExtendedPairCorr
  0.96MNBWX Manning Napier ProPairCorr
  0.92MNCCX Pro-blend(r) ConservativePairCorr
  0.93MNCIX Pro-blend(r) ConservativePairCorr
  0.76MNDWX Manning Napier DiverPairCorr
  0.98MNECX Pro-blend(r) ExtendedPairCorr
  0.89MNMCX Pro-blend(r) ModeratePairCorr
  1.0MNMIX Pro-blend(r) ModeratePairCorr
  0.99MNMWX Manning Napier ProPairCorr
  0.76MNOSX Manning Napier OverseasPairCorr
  0.76MNOWX Manning Napier OverseasPairCorr
  0.76MNOZX Manning Napier OverseasPairCorr
  0.85RAIIX Rainier InternationalPairCorr
  0.85RAIRX Rainier InternationalPairCorr
  0.86RAIWX Manning Napier RainierPairCorr
  0.76MCBWX Manning Napier CorePairCorr
  0.83MCDWX Manning Napier CreditPairCorr
  0.82MUBWX Manning Napier UnconPairCorr
  1.0EXBAX Pro-blend(r) ModeratePairCorr
  0.81EXCPX Unconstrained Bond SeriesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Pro-blend(r) Mutual Fund performing well and Pro-blend(r) Moderate 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) Moderate'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.

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