Disciplined Value Correlations

MNDFX Fund

USD 9.40 0.07 0.74%

The current 90-days correlation between Disciplined Value Series and Parametric Emerging Markets is 0.32 (i.e., Weak diversification). The correlation of Disciplined Value 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.

Disciplined Value Correlation With Market

Very poor diversification

The correlation between Disciplined Value Series and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Disciplined Value Series 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 Disciplined Value Series. 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 census.

Moving together with DISCIPLINED Mutual Fund

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

Moving against DISCIPLINED Mutual Fund

0.59	MNCPX	Unconstrained Bond Series	Pair Corr
0.48	MNOSX	Manning Napier Overseas	Pair Corr
0.47	MNCCX	Pro-blend(r) Conservative	Pair Corr
0.47	MNOZX	Manning Napier Overseas	Pair Corr
0.46	MNOWX	Manning Napier Overseas	Pair Corr
0.45	MNCRX	Pro-blend(r) Conservative	Pair Corr
0.42	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.39	MNCWX	Manning Napier Pro	Pair Corr
0.36	RAIIX	Rainier International	Pair Corr
0.35	RAIRX	Rainier International	Pair Corr
0.69	EXCRX	Core Bond Series	Pair Corr
0.68	MCBWX	Manning Napier Core	Pair Corr
0.61	MCDWX	Manning Napier Credit	Pair Corr
0.61	EXCPX	Unconstrained Bond Series	Pair Corr
0.6	MCBZX	Manning Napier Core	Pair Corr
0.6	EXCIX	Core Bond Series	Pair Corr
0.56	MUBWX	Manning Napier Uncon	Pair Corr
0.47	EXOSX	Overseas Series Class	Pair Corr
0.44	EXDAX	Pro-blend(r) Conservative	Pair Corr
0.39	RISAX	Rainier International	Pair Corr

Related Correlations Analysis

	EIEMX	EXEYX	PYEQX	ARTGX	PEIIX
EIEMX		-0.17	0.24	0.66	0.03	EIEMX
EXEYX	-0.17		-0.23	0.29	0.91	EXEYX
PYEQX	0.24	-0.23		-0.03	-0.2	PYEQX
ARTGX	0.66	0.29	-0.03		0.36	ARTGX
PEIIX	0.03	0.91	-0.2	0.36		PEIIX
	EIEMX	EXEYX	PYEQX	ARTGX	PEIIX

Click cells to compare fundamentals

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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

PEIIX	+ 0.91	EXEYX
ARTGX	+ 0.66	EIEMX
PEIIX	+ 0.36	ARTGX
ARTGX	+ 0.29	EXEYX
PYEQX	+ 0.24	EIEMX
PEIIX	+ 0.03	EIEMX

High negative correlations

PYEQX	- 0.23	EXEYX
PEIIX	- 0.2	PYEQX
EXEYX	- 0.17	EIEMX
ARTGX	- 0.03	PYEQX

Risk-Adjusted Indicators

There is a big difference between DISCIPLINED Mutual Fund performing well and Disciplined Value 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 Disciplined Value'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
EIEMX	0.48	(0.03)	(0.19)	(0.03)	0.56	(0.57)	0.87	(1.06)	3.16
EXEYX	0.52	0.09	(0.01)	3.00	0.60	(0.55)	1.03	(1.12)	3.99
PYEQX	0.99	(0.39)	0.00	(0.45)	0.00	0.00	1.18	(0.87)	29.41
ARTGX	0.48	(0.01)	(0.20)	0.29	0.56	(0.51)	0.89	(0.89)	2.64
PEIIX	0.51	0.00	(0.04)	0.10	0.41	(0.56)	1.18	(0.83)	3.00

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