Pro Blend Correlations

Mutual Funds . USA . 
Fund . Pro Blend Moderate Term
MNMRX Fund  USD 14.33  0.05  0.35%   
The current 90-days correlation between Pro Blend Moderate and Sa Emerging Markets is 0.29 (i.e., Modest diversification). The correlation of Pro Blend 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 Correlation With Market

Poor diversification

The correlation between Pro Blend Moderate 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 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 metropolitan statistical area.

Moving together with Pro Mutual Fund

  0.99MNBAX Pro-blend(r) ExtendedPairCorr
  0.99MNBIX Pro-blend(r) ExtendedPairCorr
  0.81MNCRX Pro-blend(r) ConservativePairCorr
  0.79MNCWX Manning Napier ProPairCorr
  0.86MNDFX Disciplined Value SeriesPairCorr
  0.99MNBRX Pro-blend(r) ExtendedPairCorr
  0.99MNBWX Manning Napier ProPairCorr
  0.81MNCCX Pro-blend(r) ConservativePairCorr
  0.8MNCIX Pro-blend(r) ConservativePairCorr
  0.64MNDWX Manning Napier DiverPairCorr
  0.98MNECX Pro-blend(r) ExtendedPairCorr
  0.76MNHCX Pro-blend(r) MaximumPairCorr
  0.86MNHAX High Yield BondPairCorr
  0.78MNHIX Pro-blend(r) MaximumPairCorr
  0.78MNHRX Pro-blend(r) MaximumPairCorr
  0.8MNHWX Manning Napier ProPairCorr
  0.87MNHYX High Yield BondPairCorr
  1.0MNMCX Pro-blend(r) ModeratePairCorr
  1.0MNMIX Pro-blend(r) ModeratePairCorr
  1.0MNMWX Manning Napier ProPairCorr
  0.81MNOSX Manning Napier OverseasPairCorr
  0.8MNOWX Manning Napier OverseasPairCorr
  0.81MNOZX Manning Napier OverseasPairCorr
  0.77RAIIX Rainier InternationalPairCorr
  0.77RAIRX Rainier InternationalPairCorr
  0.76RAIWX Manning Napier RainierPairCorr
  0.86MDFSX Disciplined Value SeriesPairCorr
  0.86MDVWX Manning Napier DisciPairCorr
  0.86MDVZX 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 Mutual Fund performing well and Pro Blend 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'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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