Pro-blend(r) Conservative Correlations

Mutual Funds . USA . 
Fund . Pro Blend Servative Term
MNCIX Fund  USD 13.11  0.02  0.15%   
The current 90-days correlation between Pro-blend(r) Conservative and Morningstar International Equity is 0.01 (i.e., Significant diversification). The correlation of Pro-blend(r) Conservative 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) Conservative Correlation With Market

Poor diversification

The correlation between Pro Blend Servative Term and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Servative 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 Servative 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

  0.76MNBAX Pro-blend(r) ExtendedPairCorr
  0.77MNBIX Pro-blend(r) ExtendedPairCorr
  0.76MNCPX Unconstrained Bond SeriesPairCorr
  1.0MNCRX Pro-blend(r) ConservativePairCorr
  0.79MNCWX Manning Napier ProPairCorr
  0.66MNDFX Disciplined Value SeriesPairCorr
  0.75MNBRX Pro-blend(r) ExtendedPairCorr
  0.79MNBWX Manning Napier ProPairCorr
  1.0MNCCX Pro-blend(r) ConservativePairCorr
  0.72MNDWX Manning Napier DiverPairCorr
  0.74MNECX Pro-blend(r) ExtendedPairCorr
  0.94MNHAX High Yield BondPairCorr
  0.94MNHYX High Yield BondPairCorr
  0.84MNMCX Pro-blend(r) ModeratePairCorr
  0.87MNMIX Pro-blend(r) ModeratePairCorr
  0.86MNMRX Pro Blend ModeratePairCorr
  0.89MNMWX Manning Napier ProPairCorr
  0.89MNOSX Manning Napier OverseasPairCorr
  0.94MNOWX Manning Napier OverseasPairCorr
  0.94MNOZX Manning Napier OverseasPairCorr
  0.83RAIIX Rainier InternationalPairCorr
  0.83RAIRX Rainier InternationalPairCorr
  0.84RAIWX Manning Napier RainierPairCorr
  0.67MCDIX Manning Napier CreditPairCorr
  0.83MCBWX Manning Napier CorePairCorr
  0.7MCBZX Manning Napier CorePairCorr
  0.69MCDSX Manning Napier CreditPairCorr
  0.68MCDWX Manning Napier CreditPairCorr
  0.77MUBWX Manning Napier UnconPairCorr
  0.68MDVZX 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) Conservative 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) Conservative'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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