Pro-blend(r) Extended Correlations

Mutual Funds . USA . 
Fund . Pro Blend Extended Term
MNBIX Fund  USD 19.63  0.05  0.26%   
The current 90-days correlation between Pro-blend(r) Extended and Alpine Ultra Short is -0.1 (i.e., Good diversification). The correlation of Pro-blend(r) Extended 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) Extended Correlation With Market

Poor diversification

The correlation between Pro Blend Extended Term and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Extended 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 Extended 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

  1.0MNBAX Pro-blend(r) ExtendedPairCorr
  0.73MNCRX Pro-blend(r) ConservativePairCorr
  0.71MNCWX Manning Napier ProPairCorr
  0.87MNDFX Disciplined Value SeriesPairCorr
  1.0MNBRX Pro-blend(r) ExtendedPairCorr
  1.0MNBWX Manning Napier ProPairCorr
  0.73MNCCX Pro-blend(r) ConservativePairCorr
  0.72MNCIX Pro-blend(r) ConservativePairCorr
  1.0MNECX Pro-blend(r) ExtendedPairCorr
  0.85MNHCX Pro-blend(r) MaximumPairCorr
  0.8MNHAX High Yield BondPairCorr
  0.86MNHIX Pro-blend(r) MaximumPairCorr
  0.86MNHRX Pro-blend(r) MaximumPairCorr
  0.88MNHWX Manning Napier ProPairCorr
  0.81MNHYX High Yield BondPairCorr
  0.99MNMCX Pro-blend(r) ModeratePairCorr
  0.99MNMIX Pro-blend(r) ModeratePairCorr
  0.99MNMRX Pro Blend ModeratePairCorr
  0.98MNMWX Manning Napier ProPairCorr
  0.74MNOSX Manning Napier OverseasPairCorr
  0.73MNOWX Manning Napier OverseasPairCorr
  0.74MNOZX Manning Napier OverseasPairCorr
  0.71RAIIX Rainier InternationalPairCorr
  0.71RAIRX Rainier InternationalPairCorr
  0.71RAIWX Manning Napier RainierPairCorr
  0.87MDFSX Disciplined Value SeriesPairCorr
  0.87MDVWX Manning Napier DisciPairCorr
  0.87MDVZX Manning Napier DisciPairCorr

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) Extended 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) Extended'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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