Pro Blend Correlations

MNHCX Fund  USD 27.39  0.09  0.33%   
The current 90-days correlation between Pro Blend Maximum and Baron Health Care is 0.79 (i.e., Poor 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 Maximum Term and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Maximum 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 Maximum 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 Mutual Fund

  0.91CEIIX Manning Napier CallodinePairCorr
  0.91CEIZX Manning Napier CallodinePairCorr
  0.91CEISX Manning Napier CallodinePairCorr
  0.85MNDFX Disciplined Value SeriesPairCorr
  0.7MNHAX High Yield BondPairCorr
  1.0MNHIX Pro Blend MaximumPairCorr
  0.93MNHRX Pro Blend MaximumPairCorr
  1.0MNHWX Manning Napier ProPairCorr
  0.76MNHYX High Yield BondPairCorr
  0.85MDFSX Disciplined Value SeriesPairCorr
  0.85MDVWX Manning Napier DisciPairCorr
  0.85MDVZX Manning Napier DisciPairCorr

Moving against Pro Mutual Fund

  0.39MCBZX Manning Napier CorePairCorr
  0.39EXCRX Core Bond SeriesPairCorr
  0.38MCBWX Manning Napier CorePairCorr
  0.38EXCIX Core Bond SeriesPairCorr
  0.33MCDWX Manning Napier CreditPairCorr
  0.31EXCPX Unconstrained Bond SeriesPairCorr

Related Correlations Analysis

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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.