Manning Napier Correlations

CEISX Fund

15.64 0.01 0.06%

The current 90-days correlation between Manning Napier Callodine and Pro Blend Extended Term is 0.69 (i.e., Poor 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 Callodine and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manning Napier Callodine and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Manning Napier Callodine. 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 state.

Moving together with Manning Mutual Fund

1.0	CEIIX	Manning Napier Callodine	Pair Corr
1.0	CEIZX	Manning Napier Callodine	Pair Corr
0.95	MNDFX	Disciplined Value Series	Pair Corr
0.9	MNHCX	Pro-blend(r) Maximum	Pair Corr
0.91	MNHIX	Pro-blend(r) Maximum	Pair Corr
0.91	MNHRX	Pro-blend(r) Maximum	Pair Corr
0.91	MNHWX	Manning Napier Pro	Pair Corr
0.95	MDFSX	Disciplined Value Series	Pair Corr
0.95	MDVWX	Manning Napier Disci	Pair Corr
0.95	MDVZX	Manning Napier Disci	Pair Corr

Moving against Manning Mutual Fund

0.55	MNCPX	Unconstrained Bond Series	Pair Corr
0.51	MNOSX	Manning Napier Overseas	Pair Corr
0.5	MNOZX	Manning Napier Overseas	Pair Corr
0.49	MNOWX	Manning Napier Overseas	Pair Corr
0.42	MNCCX	Pro-blend(r) Conservative	Pair Corr
0.39	MNCRX	Pro-blend(r) Conservative	Pair Corr
0.37	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.34	MNCWX	Manning Napier Pro	Pair Corr
0.61	EXCRX	Core Bond Series	Pair Corr
0.6	MCBWX	Manning Napier Core	Pair Corr
0.56	MCDWX	Manning Napier Credit	Pair Corr
0.54	EXCPX	Unconstrained Bond Series	Pair Corr
0.53	MCBZX	Manning Napier Core	Pair Corr
0.52	MUBWX	Manning Napier Uncon	Pair Corr
0.52	EXCIX	Core Bond Series	Pair Corr
0.5	EXOSX	Overseas Series Class	Pair Corr
0.42	RISAX	Rainier International	Pair Corr
0.39	EXDAX	Pro-blend(r) Conservative	Pair Corr
0.35	RAIIX	Rainier International	Pair Corr
0.35	RAIRX	Rainier International	Pair Corr

Related Correlations Analysis

	MNBAX	MNBIX	MNCPX	MNCRX	MNCWX	MNDFX	MNBRX
MNBAX		1.0	0.65	0.75	0.77	0.09	1.0	MNBAX
MNBIX	1.0		0.63	0.73	0.76	0.11	1.0	MNBIX
MNCPX	0.65	0.63		0.93	0.92	-0.59	0.66	MNCPX
MNCRX	0.75	0.73	0.93		1.0	-0.45	0.76	MNCRX
MNCWX	0.77	0.76	0.92	1.0		-0.39	0.78	MNCWX
MNDFX	0.09	0.11	-0.59	-0.45	-0.39		0.06	MNDFX
MNBRX	1.0	1.0	0.66	0.76	0.78	0.06		MNBRX
	MNBAX	MNBIX	MNCPX	MNCRX	MNCWX	MNDFX	MNBRX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MNBIX	+ 1.0	MNBAX
MNBRX	+ 1.0	MNBAX
MNBRX	+ 1.0	MNBIX
MNCWX	+ 1.0	MNCRX
MNCRX	+ 0.93	MNCPX
MNCWX	+ 0.92	MNCPX

High negative correlations

MNDFX	- 0.59	MNCPX
MNDFX	- 0.45	MNCRX
MNDFX	- 0.39	MNCWX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MNBAX	0.31	(0.03)	(0.22)	0.02	0.41	(0.30)	0.60	(0.63)	1.83
MNBIX	0.30	(0.03)	(0.22)	0.02	0.40	(0.30)	0.59	(0.64)	1.87
MNCPX	0.11	(0.01)	(0.65)	(0.51)	0.12	(0.16)	0.20	(0.20)	0.71
MNCRX	0.18	(0.01)	(0.43)	(0.11)	0.21	(0.19)	0.30	(0.44)	1.05
MNCWX	0.17	(0.01)	(0.41)	(0.02)	0.20	(0.19)	0.30	(0.44)	1.04
MNDFX	0.58	(0.03)	(0.07)	0.07	0.53	(0.71)	1.19	(1.01)	4.44
MNBRX	0.30	(0.03)	(0.22)	0.02	0.41	(0.29)	0.59	(0.64)	1.82

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