Pro-blend(r) Extended Correlations

Mutual Funds USA . 
Fund . Pro Blend Extended Term
MNBRX Fund  USD 19.62  0.11  0.56%   
The current 90-days correlation between Pro-blend(r) Extended and Diversified Bond Fund is 0.41 (i.e., Very weak 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 0.66 (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 metropolitan statistical area.

Moving together with Pro-blend(r) Mutual Fund

  1.0MNBAX Pro-blend(r) ExtendedPairCorr
  1.0MNBIX Pro-blend(r) ExtendedPairCorr
  0.72MNCRX Pro-blend(r) ConservativePairCorr
  0.7MNCWX Manning Napier ProPairCorr
  0.87MNDFX Disciplined Value SeriesPairCorr
  1.0MNBWX Manning Napier ProPairCorr
  0.72MNCCX Pro-blend(r) ConservativePairCorr
  0.7MNCIX Pro-blend(r) ConservativePairCorr
  1.0MNECX Pro-blend(r) ExtendedPairCorr
  0.86MNHCX Pro-blend(r) MaximumPairCorr
  0.79MNHAX High Yield BondPairCorr
  0.88MNHIX Pro-blend(r) MaximumPairCorr
  0.87MNHRX Pro-blend(r) MaximumPairCorr
  0.89MNHWX Manning Napier ProPairCorr
  0.8MNHYX High Yield BondPairCorr
  0.99MNMCX Pro-blend(r) ModeratePairCorr
  0.98MNMIX Pro-blend(r) ModeratePairCorr
  0.99MNMRX Pro Blend ModeratePairCorr
  0.97MNMWX Manning Napier ProPairCorr
  0.73MNOSX Manning Napier OverseasPairCorr
  0.72MNOWX Manning Napier OverseasPairCorr
  0.72MNOZX Manning Napier OverseasPairCorr
  0.7RAIIX Rainier InternationalPairCorr
  0.7RAIRX Rainier InternationalPairCorr
  0.7RAIWX Manning Napier RainierPairCorr
  0.87MDFSX Disciplined Value SeriesPairCorr
  0.86MDVWX Manning Napier DisciPairCorr
  0.87MDVZX Manning Napier DisciPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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