Pro Blend Correlations

EXBAX Fund

USD 14.18 0.01 0.07%

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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Pro Blend moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pro Blend Moderate Term moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Good diversification

The correlation between Pro Blend Moderate Term and NYA is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Blend Moderate Term and NYA in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities 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 nation.

The ability to find closely correlated positions to Pro Blend could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pro Blend when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Pro Blend - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Pro Blend Moderate Term to buy it.

Moving together with Pro Mutual Fund

0.93	MNBAX	Pro Blend Extended	Pair Corr
0.93	MNBIX	Pro Blend Extended	Pair Corr
0.84	MNBRX	Pro Blend Extended	Pair Corr
0.78	MNCCX	Pro Blend Servative	Pair Corr
0.89	MNCIX	Pro Blend Servative	Pair Corr
0.93	MNHCX	Pro Blend Maximum	Pair Corr
0.93	MNHIX	Pro Blend Maximum	Pair Corr
0.93	MNHRX	Pro Blend Maximum	Pair Corr
0.83	MNMCX	Pro Blend Moderate	Pair Corr
0.92	MNMIX	Pro Blend Moderate	Pair Corr
0.84	MNOSX	Manning Napier Overseas	Pair Corr
0.82	MNOWX	Manning Napier Overseas	Pair Corr
0.83	MNOZX	Manning Napier Overseas	Pair Corr
0.86	RAIWX	Manning Napier Rainier	Pair Corr
0.75	MCBZX	Manning Napier Core	Pair Corr

Related Correlations Analysis

	PRPFX	FMIHX	WTIBX	FPACX
PRPFX		0.66	0.0	0.76	PRPFX
FMIHX	0.66		0.51	0.91	FMIHX
WTIBX	0.0	0.51		0.52	WTIBX
FPACX	0.76	0.91	0.52		FPACX
	PRPFX	FMIHX	WTIBX	FPACX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FPACX	+ 0.91	FMIHX
FPACX	+ 0.76	PRPFX
FMIHX	+ 0.66	PRPFX
FPACX	+ 0.52	WTIBX
WTIBX	+ 0.51	FMIHX
WTIBX	+ 0.0	PRPFX

High negative correlations

WTIBX

- 0.0

PRPFX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PRPFX	0.44	0.08	0.13	0.17	0.37	(0.48)	0.92	(0.69)	2.68
FMIHX	0.57	0.04	0.05	0.06	0.65	(0.62)	1.12	(1.22)	2.78
WTIBX	0.26	0.00	(0.06)	0.01	0.33	(0.26)	0.44	(0.54)	1.41
FPACX	0.38	0.05	0.09	0.11	0.37	(0.43)	0.85	(0.81)	2.04

Other Information on Investing in Pro Mutual Fund

Pro Blend financial ratios help investors to determine whether Pro Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Pro with respect to the benefits of owning Pro Blend security.

	Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings
	Performance Analysis Check effects of mean-variance optimization against your current asset allocation
	Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities
	Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC