New Economy Correlations

Mutual Funds USA . 
Fund . New Economy Fund
ANFCX Fund  USD 55.93  0.27  0.49%   
The current 90-days correlation between New Economy Fund and Pace Municipal Fixed is -0.11 (i.e., Good diversification). The correlation of New Economy 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.

New Economy Correlation With Market

Poor diversification

The correlation between New Economy Fund and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Economy Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities 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 closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with New Mutual Fund

  0.92AMECX Income FundPairCorr
  0.77AMFCX American MutualPairCorr
  0.79AMFFX American MutualPairCorr
  0.92AMEFX Income FundPairCorr
  1.0RNGAX New Economy FundPairCorr
  0.65FPTPX American Funds ConsePairCorr
  0.93RNPGX New PerspectivePairCorr
  0.93RNPFX New PerspectivePairCorr
  0.92RNPEX New PerspectivePairCorr
  0.88AMRFX American MutualPairCorr
  0.99ANCFX American Funds FundaPairCorr
  1.0ANFFX New Economy FundPairCorr
  0.92NPFFX New PerspectivePairCorr
  0.89PGGFX American Funds GlobalPairCorr
  0.92ANWPX New PerspectivePairCorr
  0.97BALFX American BalancedPairCorr
  0.97BALCX American BalancedPairCorr
  0.87CWGIX Capital World GrowthPairCorr
  0.87CWGFX Capital World GrowthPairCorr
  0.86CWGCX Capital World GrowthPairCorr
  0.97WSHFX Washington MutualPairCorr
  0.81CWIFX Capital World GrowthPairCorr
  0.86CWICX Capital World GrowthPairCorr
  0.96CWMCX Washington MutualPairCorr

Moving against New Mutual Fund

  0.52FPPPX American Funds PresePairCorr
  0.36CEAMX Short Term BondPairCorr
  0.68CFAAX Bond 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   
BIDPX
+ 0.99
ABIMX
BCHIX
+ 0.99
ABIMX
BCHIX
+ 0.99
BIDPX
BBINX
+ 0.98
PCMNX
BCHIX
+ 0.98
PATFX
BBINX
+ 0.98
BIDPX
  
High negative correlations   
GTCAX
- 0.37
PCMNX
BBINX
- 0.32
GTCAX
GTCAX
- 0.27
ABIMX
BIDPX
- 0.26
GTCAX
BCHIX
- 0.18
GTCAX
GTCAX
- 0.13
PATFX

Risk-Adjusted Indicators

There is a big difference between New Mutual Fund performing well and New Economy 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 New Economy'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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