New Perspective Correlations

Mutual Funds . USA . 
Fund . New Perspective Fund
NPFCX Fund  USD 64.45  0.36  0.56%   
The current 90-days correlation between New Perspective and Ab Select Equity is 0.97 (i.e., Almost no diversification). The correlation of New Perspective 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 Perspective Correlation With Market

Almost no diversification

The correlation between New Perspective Fund and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Perspective Fund 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 New Perspective 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

  0.93AMECX Income FundPairCorr
  0.97RNEBX New World FundPairCorr
  0.91AMFCX American MutualPairCorr
  0.91AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.98AMEFX Income FundPairCorr
  0.96RNGGX New Economy FundPairCorr
  0.99RNGFX New Economy FundPairCorr
  0.96RNGHX New Economy FundPairCorr
  0.96RNGBX New Economy FundPairCorr
  0.96RNGAX New Economy FundPairCorr
  0.99RNGEX New Economy FundPairCorr
  0.96RNGCX New Economy FundPairCorr
  0.98FPTPX American Funds ConsePairCorr
  0.96RNNEX New Economy FundPairCorr
  0.97CDJAX American Funds CollegePairCorr
  0.99AMPCX Amcap Fund ClassPairCorr
  0.99AMPFX Amcap Fund ClassPairCorr
  1.0RNPBX New PerspectivePairCorr
  1.0RNPAX New PerspectivePairCorr
  0.97RNPHX New PerspectivePairCorr
  1.0RNPGX New PerspectivePairCorr
  0.97RNPCX New PerspectivePairCorr
  1.0RNPFX New PerspectivePairCorr
  1.0RNPEX New PerspectivePairCorr
  0.91AMRMX American MutualPairCorr
  0.97AMRFX American MutualPairCorr
  0.94RNRPX American Funds RetirementPairCorr
  0.66TEPCX American Funds TaxPairCorr
  0.76TEPFX American Funds TaxPairCorr
  0.97RNWFX New World FundPairCorr
  1.0RNWEX New World FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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