Core Bond Correlations

EXCRX Fund

USD 9.31 0.01 0.11%

The current 90-days correlation between Core Bond Series and Unconstrained Bond Series is 0.06 (i.e., Significant diversification). The correlation of Core Bond 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.

Core Bond Correlation With Market

Good diversification

The correlation between Core Bond Series and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Core Bond Series and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Core Bond Series. 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 Core Mutual Fund

0.85	MNCPX	Unconstrained Bond Series	Pair Corr
0.93	MNCRX	Pro-blend(r) Conservative	Pair Corr
0.91	MNCWX	Manning Napier Pro	Pair Corr
0.94	MNCCX	Pro-blend(r) Conservative	Pair Corr
0.92	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.8	MNDWX	Manning Napier Diver	Pair Corr
0.75	MNMCX	Pro-blend(r) Moderate	Pair Corr
0.69	MNMIX	Pro-blend(r) Moderate	Pair Corr
0.72	MNMRX	Pro-blend(r) Moderate	Pair Corr
0.64	MNMWX	Manning Napier Pro	Pair Corr
0.7	MNOSX	Manning Napier Overseas	Pair Corr
0.68	MNOWX	Manning Napier Overseas	Pair Corr
0.69	MNOZX	Manning Napier Overseas	Pair Corr
0.77	RAIIX	Rainier International	Pair Corr
0.76	RAIWX	Manning Napier Rainier	Pair Corr
0.97	MCBWX	Manning Napier Core	Pair Corr
0.76	MCBZX	Manning Napier Core	Pair Corr
0.94	MCDWX	Manning Napier Credit	Pair Corr
0.83	MUBWX	Manning Napier Uncon	Pair Corr
0.67	EXBAX	Pro-blend(r) Moderate	Pair Corr
0.86	EXCPX	Unconstrained Bond Series	Pair Corr
0.75	EXCIX	Core Bond Series	Pair Corr

Moving against Core Mutual Fund

0.69	MNDFX	Disciplined Value Series	Pair Corr
0.62	CEIIX	Manning Napier Callodine	Pair Corr
0.62	CEIZX	Manning Napier Callodine	Pair Corr
0.62	CEISX	Manning Napier Callodine	Pair Corr
0.54	MNHIX	Pro-blend(r) Maximum	Pair Corr
0.54	MNHWX	Manning Napier Pro	Pair Corr
0.52	MNHRX	Pro-blend(r) Maximum	Pair Corr
0.5	MNHCX	Pro-blend(r) Maximum	Pair Corr
0.69	MDFSX	Disciplined Value Series	Pair Corr
0.69	MDVWX	Manning Napier Disci	Pair Corr
0.69	MDVZX	Manning Napier Disci	Pair Corr
0.68	MEYWX	Manning Napier Equity	Pair Corr
0.67	EXEYX	Equity Series Class	Pair Corr
0.52	EXHAX	Pro-blend(r) Maximum	Pair Corr

Related Correlations Analysis

	EXCPX	EXBAX	MNHYX	EXOSX	EXHAX
EXCPX		0.81	0.23	0.81	-0.36	EXCPX
EXBAX	0.81		0.49	0.68	0.09	EXBAX
MNHYX	0.23	0.49		0.17	0.69	MNHYX
EXOSX	0.81	0.68	0.17		-0.26	EXOSX
EXHAX	-0.36	0.09	0.69	-0.26		EXHAX
	EXCPX	EXBAX	MNHYX	EXOSX	EXHAX

Click cells to compare fundamentals

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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

EXBAX	+ 0.81	EXCPX
EXOSX	+ 0.81	EXCPX
EXHAX	+ 0.69	MNHYX
EXOSX	+ 0.68	EXBAX
MNHYX	+ 0.49	EXBAX
MNHYX	+ 0.23	EXCPX

High negative correlations

EXHAX	- 0.36	EXCPX
EXHAX	- 0.26	EXOSX

Risk-Adjusted Indicators

There is a big difference between Core Mutual Fund performing well and Core Bond 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 Core Bond'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
EXCPX	0.10	(0.01)	(0.66)	(0.54)	0.12	(0.16)	0.20	(0.20)	0.80
EXBAX	0.25	0.00	(0.30)	0.14	0.31	(0.26)	0.47	(0.60)	1.49
MNHYX	0.11	0.00	(0.51)	0.17	0.00	(0.15)	0.30	(0.20)	0.91
EXOSX	0.70	(0.13)	0.00	(0.10)	0.00	0.00	1.07	(1.39)	4.06
EXHAX	0.45	(0.02)	(0.10)	0.09	0.54	(0.47)	0.94	(1.11)	2.65

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