Pro-blend(r) Extended Correlations

Mutual Funds . USA . 
Fund . Pro Blend Extended Term
MNECX Fund  USD 20.58  0.02  0.1%   
The current 90-days correlation between Pro-blend(r) Extended and Pro Blend Moderate Term is 0.99 (i.e., No risk reduction). The correlation of Pro-blend(r) Extended 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) Extended Correlation With Market

Poor diversification

The correlation between Pro Blend Extended Term and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Extended 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 Extended 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 main economic indicators.

Moving together with Pro-blend(r) Mutual Fund

  1.0MNBAX Pro-blend(r) ExtendedPairCorr
  0.99MNBIX Pro-blend(r) ExtendedPairCorr
  0.68MNCPX Unconstrained Bond SeriesPairCorr
  0.78MNCRX Pro-blend(r) ConservativePairCorr
  0.8MNCWX Manning Napier ProPairCorr
  1.0MNBRX Pro-blend(r) ExtendedPairCorr
  0.99MNBWX Manning Napier ProPairCorr
  0.77MNCCX Pro-blend(r) ConservativePairCorr
  0.79MNCIX Pro-blend(r) ConservativePairCorr
  0.69MNDWX Manning Napier DiverPairCorr
  0.87MNMCX Pro-blend(r) ModeratePairCorr
  0.88MNMIX Pro-blend(r) ModeratePairCorr
  0.88MNMRX Pro-blend(r) ModeratePairCorr
  0.72MNOSX Manning Napier OverseasPairCorr
  0.73MNOWX Manning Napier OverseasPairCorr
  0.72MNOZX Manning Napier OverseasPairCorr
  0.82RAIIX Rainier InternationalPairCorr
  0.83RAIWX Manning Napier RainierPairCorr
  0.7MUBWX Manning Napier UnconPairCorr
  0.99EXBAX Pro-blend(r) ModeratePairCorr
  0.78EXDAX Pro-blend(r) ConservativePairCorr
  0.72EXOSX Overseas Series ClassPairCorr
  0.75RISAX Rainier InternationalPairCorr

Moving against Pro-blend(r) Mutual Fund

  0.37LETRX Voya Russia FundPairCorr

Related Correlations Analysis

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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   
GTSGX
+ 0.97
EXHAX
EXDAX
+ 0.85
EXBAX
GLRBX
+ 0.79
EXHAX
GLRBX
+ 0.76
GTSGX
GLRBX
+ 0.39
EXBAX
EXHAX
+ 0.22
EXBAX
  
High negative correlations   
GTSGX
- 0.29
EXDAX
EXDAX
- 0.22
EXHAX

Risk-Adjusted Indicators

There is a big difference between Pro-blend(r) Mutual Fund performing well and Pro-blend(r) Extended 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) Extended'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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