New Economy Fund Quote

RNGEX Fund  USD 59.19  0.14  0.24%   

Performance

15 of 100

 
Low
 
High
Good

Odds Of Distress

Less than 34

 
100  
 
Zero
Below Average
New Economy is trading at 59.19 as of the 28th of March 2024; that is 0.24 percent increase since the beginning of the trading day. The fund's open price was 59.05. New Economy has about a 34 percent probability of financial distress in the next few years of operation but had a somewhat good performance during the last 90 days. Equity ratings for New Economy Fund are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 8th of April 2022 and ending today, the 28th of March 2024. Click here to learn more.
The fund invests primarily in common stocks that the investment adviser believes have the potential for growth. It invests in securities of companies that can benefit from innovation, exploit new technologies or provide products and services that meet the demands of an evolving global economy. More on New Economy Fund

Moving together with New Mutual Fund

  0.79AMECX Income FundPairCorr
  0.81REJTX American Funds 2015PairCorr
  0.93RNEBX New World FundPairCorr
  0.93AMFCX American Mutual FundPairCorr
  0.94AMFFX American Mutual FundPairCorr
  0.85RNCCX American Funds IncomePairCorr

New Mutual Fund Highlights

Most reasonable investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend. New Economy's investment highlights are automatically generated signals that are significant enough to either complement your investing judgment regarding New Economy or challenge it. These highlights can help you better understand the position you are entering and avoid costly mistakes.
Fund ConcentrationAmerican Funds, Large Growth Funds, World Large-Stock Growth Funds, World Large-Stock Growth, American Funds, Large Growth, World Large-Stock Growth (View all Sectors)
Update Date31st of March 2024
New Economy Fund [RNGEX] is traded in USA and was established 28th of March 2024. New Economy is listed under American Funds category by Fama And French industry classification. The fund is listed under World Large-Stock Growth category and is part of American Funds family. This fund at this time has accumulated 21.62 B in assets with no minimum investment requirementsNew Economy Fund is currently producing year-to-date (YTD) return of 10.77% with the current yeild of 0.0%, while the total return for the last 3 years was 3.79%.
Check New Economy Probability Of Bankruptcy

Instrument Allocation

Sector Allocation

Investors will always prefer to have their portfolios divercified against different sectors. The broad sector allocation increases the possibility of making a profit or at least avoiding a loss. However, this may also reduce the expected return on New Mutual Fund. Generally, it depends on diversification level and type but usually, the broader the sector allocation, the less risk can be expected from holding New Mutual Fund, and the less return is expected.
Institutional investors that are interested in enforcing a sector tilt in their portfolio can use exchange-traded funds, such as New Economy Fund Mutual Fund, as a low-cost alternative to building a custom portfolio. So, using sector ETFs to diversify your portfolio can be a profitable strategy. However, no matter what sectors are desirable at a given time, no single industry should ever make up more than 20 percent of your stock portfolio.

Top New Economy Fund Mutual Fund Constituents

MUMicron TechnologyStockInformation Technology
QRVOQorvo IncStockInformation Technology
BABAAlibaba Group HoldingStockConsumer Discretionary
TMOThermo Fisher ScientificStockHealth Care
ABBVAbbVie IncStockHealth Care
UNHUnitedHealth Group IncorporatedStockHealth Care
TCTZFTencent HoldingsPink SheetInternet Content & Information
More Details

New Economy Target Price Odds Analysis

Based on a normal probability distribution, the odds of New Economy jumping above the current price in 90 days from now is about 5.74%. The New Economy Fund probability density function shows the probability of New Economy mutual fund to fall within a particular range of prices over 90 days. Assuming the 90 days horizon New Economy Fund has a beta of -0.0528 indicating as returns on benchmark increase, returns on holding New Economy are expected to decrease at a much lower rate. During the bear market, however, New Economy Fund is likely to outperform the market. Additionally, new Economy Fund has an alpha of 0.183, implying that it can generate a 0.18 percent excess return over NYSE Composite after adjusting for the inherited market risk (beta).
  Odds Below 59.19HorizonTargetOdds Above 59.19
94.17%90 days
 59.19 
5.74%
Based on a normal probability distribution, the odds of New Economy to move above the current price in 90 days from now is about 5.74 (This New Economy Fund probability density function shows the probability of New Mutual Fund to fall within a particular range of prices over 90 days) .

New Economy Fund Risk Profiles

Investors will always prefer to have the highest possible return on investment while minimizing volatility. New Economy market risk premium is the additional return an investor will receive from holding New Economy long position in a well-diversified portfolio. The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in New Economy. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures. Although New Economy's alpha and beta are two of the key measurements used to evaluate New Economy's performance over the market, the standard measures of volatility play an important role as well.

New Economy Against Markets

Picking the right benchmark for New Economy mutual fund is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in New Economy mutual fund price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for New Economy is critical whether you are bullish or bearish towards New Economy Fund at a given time. Please also check how New Economy's historical prices are related to one of the top price index indicators.

Be your own money manager

Our tools can tell you how much better you can do entering a position in New Economy without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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How to buy New Mutual Fund?

Before investing in New Economy, you must ensure you fully understand your financial goals and how diversified (or not) your overall investments are now. Then, after you clearly understand your investment objectives, consider investing in New Economy. To buy New Economy fund, you can follow these steps:
  • Choose a brokerage firm: You need to select a brokerage firm to buy shares of New Economy. Some popular options include Charles Schwab, Fidelity, TD Ameritrade, and Robinhood.
  • Open an account: Once you have chosen a brokerage firm, you will need to open an account. You will be required to provide personal information, such as your name, address, and Social Security number.
  • Fund your account: You will need to deposit funds into your brokerage account to purchase New Economy fund. You can do this by transferring funds from your bank account or other investment accounts.
  • Place your order: Once you have located New Economy Fund fund in your brokerage account, you can place your order to buy it. You will need to specify the number of shares you want to buy and the price you are willing to pay.
  • Monitor your investment: After you have purchased New Economy Fund fund, you should monitor your investment to track its performance and make informed decisions about buying, selling, or holding the fund
It's important to note that investing in stocks, such as New Economy Fund, carries risks, and you should carefully consider your investment goals and risk tolerance before making any investment decisions. Also, remember various factors, including economic indicators, change in net worth, political events, company-specific news, and investor sentiment, can influence the stock market. These factors can cause fluctuations in fund prices and lead to market volatility affecting your buy or sell decision. However, volatility can also present opportunities for investors to make gains by buying stocks when prices are low and selling when they are high. It's important for investors to have a long-term perspective and a well-diversified portfolio to manage the impact of stock market volatility on their investments.

Already Invested in New Economy Fund?

The danger of trading New Economy Fund is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of New Economy is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than New Economy. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile New Economy Fund is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in New Economy Fund. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in income.
Note that the New Economy Fund information on this page should be used as a complementary analysis to other New Economy's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.

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When running New Economy's price analysis, check to measure New Economy's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy New Economy is operating at the current time. Most of New Economy's value examination focuses on studying past and present price action to predict the probability of New Economy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move New Economy's price. Additionally, you may evaluate how the addition of New Economy to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between New Economy's value and its price as these two are different measures arrived at by different means. Investors typically determine if New Economy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, New Economy's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.