Pro-blend(r) Extended Correlations

Mutual Funds . USA . 
Fund . Pro Blend Extended Term
MNECX Fund  USD 20.52  0.07  0.34%   
The current 90-days correlation between Pro-blend(r) Extended and Tax Managed Mid Small is 0.65 (i.e., Poor 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 main economic indicators.

Moving together with Pro-blend(r) Mutual Fund

  1.0MNBAX Pro-blend(r) ExtendedPairCorr
  0.99MNBIX Pro-blend(r) ExtendedPairCorr
  0.73MNCPX Unconstrained Bond SeriesPairCorr
  0.84MNCRX Pro-blend(r) ConservativePairCorr
  0.86MNCWX Manning Napier ProPairCorr
  1.0MNBRX Pro-blend(r) ExtendedPairCorr
  0.99MNBWX Manning Napier ProPairCorr
  0.83MNCCX Pro-blend(r) ConservativePairCorr
  0.85MNCIX Pro-blend(r) ConservativePairCorr
  0.67MNDWX Manning Napier DiverPairCorr
  0.98MNMCX Pro-blend(r) ModeratePairCorr
  0.99MNMIX Pro-blend(r) ModeratePairCorr
  0.98MNMRX Pro-blend(r) ModeratePairCorr
  0.73MNOSX Manning Napier OverseasPairCorr
  0.74MNOWX Manning Napier OverseasPairCorr
  0.74MNOZX Manning Napier OverseasPairCorr
  0.82RAIIX Rainier InternationalPairCorr
  0.83RAIWX Manning Napier RainierPairCorr
  0.75MUBWX Manning Napier UnconPairCorr
  0.99EXBAX Pro-blend(r) ModeratePairCorr
  0.85EXDAX Pro-blend(r) ConservativePairCorr
  0.74EXOSX Overseas Series ClassPairCorr
  0.82RISAX Rainier InternationalPairCorr

Moving against Pro-blend(r) Mutual Fund

  0.4LETRX Voya Russia FundPairCorr
  0.33KINCX Kinetics InternetPairCorr

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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