Pro-blend(r) Moderate Correlations

Mutual Funds . USA . 
Fund . Pro Blend Moderate Term
MNMRX Fund  USD 15.05  0.03  0.20%   
The current 90-days correlation between Pro-blend(r) Moderate and Rbc Short Duration is 0.17 (i.e., Average diversification). The correlation of Pro-blend(r) Moderate 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) Moderate Correlation With Market

Average diversification

The correlation between Pro Blend Moderate Term and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Moderate 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 Moderate 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 metropolitan statistical area.

Moving together with Pro-blend(r) Mutual Fund

  0.86MNBAX Pro-blend(r) ExtendedPairCorr
  0.85MNBIX Pro-blend(r) ExtendedPairCorr
  0.81MNCPX Unconstrained Bond SeriesPairCorr
  0.92MNCRX Pro-blend(r) ConservativePairCorr
  0.93MNCWX Manning Napier ProPairCorr
  0.87MNBRX Pro-blend(r) ExtendedPairCorr
  0.84MNBWX Manning Napier ProPairCorr
  0.91MNCCX Pro-blend(r) ConservativePairCorr
  0.92MNCIX Pro-blend(r) ConservativePairCorr
  0.75MNDWX Manning Napier DiverPairCorr
  0.88MNECX Pro-blend(r) ExtendedPairCorr
  1.0MNMCX Pro-blend(r) ModeratePairCorr
  1.0MNMIX Pro-blend(r) ModeratePairCorr
  0.99MNMWX Manning Napier ProPairCorr
  0.7MNOSX Manning Napier OverseasPairCorr
  0.7MNOWX Manning Napier OverseasPairCorr
  0.7MNOZX Manning Napier OverseasPairCorr
  0.79RAIIX Rainier InternationalPairCorr
  0.8RAIWX Manning Napier RainierPairCorr
  0.69MCBWX Manning Napier CorePairCorr
  0.8MCDWX Manning Napier CreditPairCorr
  0.81MUBWX Manning Napier UnconPairCorr
  0.89EXBAX Pro-blend(r) ModeratePairCorr
  0.78EXCPX Unconstrained Bond SeriesPairCorr

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   
FSILX
+ 0.92
RSDIX
BBSGX
+ 0.9
FSILX
BBSGX
+ 0.89
RSDIX
FSILX
+ 0.78
LTXFX
LTXFX
+ 0.76
RSDIX
BBSGX
+ 0.65
LTXFX
  
High negative correlations   
ASTIX
- 0.25
LTXFX
ASTIX
- 0.22
RSDIX
ASTIX
- 0.16
FSILX

Risk-Adjusted Indicators

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