Manning Napier Correlations

Mutual Funds . USA . 
Fund . Manning Napier Pro Blend
MNMWX Fund  USD 14.39  0.04  0.28%   
The current 90-days correlation between Manning Napier Pro and Morgan Stanley Government is 0.41 (i.e., Very weak diversification). The correlation of Manning Napier 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.

Manning Napier Correlation With Market

Poor diversification

The correlation between Manning Napier Pro Blend and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manning Napier Pro Blend 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 Manning Napier Pro Blend. 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 housing.

Moving together with Manning Mutual Fund

  0.97MNBAX Pro-blend(r) ExtendedPairCorr
  0.98MNBIX Pro-blend(r) ExtendedPairCorr
  0.9MNCRX Pro-blend(r) ConservativePairCorr
  0.7MNCWX Manning Napier ProPairCorr
  0.86MNDFX Disciplined Value SeriesPairCorr
  0.97MNBRX Pro-blend(r) ExtendedPairCorr
  0.91MNCCX Pro-blend(r) ConservativePairCorr
  0.89MNCIX Pro-blend(r) ConservativePairCorr
  0.61MNDWX Manning Napier DiverPairCorr
  0.96MNECX Pro-blend(r) ExtendedPairCorr
  0.72MNHCX Pro-blend(r) MaximumPairCorr
  0.9MNHAX High Yield BondPairCorr
  0.74MNHIX Pro-blend(r) MaximumPairCorr
  0.71MNHRX Pro-blend(r) MaximumPairCorr
  0.75MNHWX Manning Napier ProPairCorr
  0.91MNHYX High Yield BondPairCorr
  0.99MNMCX Pro-blend(r) ModeratePairCorr
  1.0MNMIX Pro-blend(r) ModeratePairCorr
  1.0MNMRX Pro Blend ModeratePairCorr
  0.76MNOSX Manning Napier OverseasPairCorr
  0.83MNOWX Manning Napier OverseasPairCorr
  0.84MNOZX Manning Napier OverseasPairCorr
  0.77RAIIX Rainier InternationalPairCorr
  0.77RAIRX Rainier InternationalPairCorr
  0.77RAIWX Manning Napier RainierPairCorr
  0.71MDFSX Disciplined Value SeriesPairCorr
  0.71MDVWX Manning Napier DisciPairCorr
  0.85MDVZX Manning Napier DisciPairCorr
  0.93EXBAX Pro-blend(r) ModeratePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Manning Mutual Fund performing well and Manning Napier 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 Manning Napier'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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