Pro-blend(r) Moderate Correlations

Mutual Funds . USA . 
Fund . Pro Blend Moderate Term
MNMIX Fund  USD 15.04  0.04  0.27%   
The current 90-days correlation between Pro-blend(r) Moderate and T Rowe Price is 0.27 (i.e., Modest diversification). The correlation of Pro-blend(r) Moderate 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) Moderate Correlation With Market

Very weak diversification

The correlation between Pro Blend Moderate Term and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Moderate 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 Moderate 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

  0.98MNBAX Pro-blend(r) ExtendedPairCorr
  0.98MNBIX Pro-blend(r) ExtendedPairCorr
  0.8MNCPX Unconstrained Bond SeriesPairCorr
  0.91MNCRX Pro-blend(r) ConservativePairCorr
  0.92MNCWX Manning Napier ProPairCorr
  0.99MNBRX Pro-blend(r) ExtendedPairCorr
  0.97MNBWX Manning Napier ProPairCorr
  0.9MNCCX Pro-blend(r) ConservativePairCorr
  0.91MNCIX Pro-blend(r) ConservativePairCorr
  0.75MNDWX Manning Napier DiverPairCorr
  0.99MNECX Pro-blend(r) ExtendedPairCorr
  0.99MNMCX Pro-blend(r) ModeratePairCorr
  1.0MNMRX Pro-blend(r) ModeratePairCorr
  1.0MNMWX Manning Napier ProPairCorr
  0.73MNOSX Manning Napier OverseasPairCorr
  0.73MNOWX Manning Napier OverseasPairCorr
  0.73MNOZX Manning Napier OverseasPairCorr
  0.84RAIIX Rainier InternationalPairCorr
  0.84RAIWX Manning Napier RainierPairCorr
  0.72MCBWX Manning Napier CorePairCorr
  0.79MCDWX Manning Napier CreditPairCorr
  0.81MUBWX Manning Napier UnconPairCorr
  1.0EXBAX Pro-blend(r) ModeratePairCorr
  0.81EXCPX Unconstrained Bond SeriesPairCorr

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) Moderate 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) Moderate'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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