New Perspective Correlations

Mutual Funds . USA . 
Fund . New Perspective Fund
NPFFX Fund  USD 68.95  0.45  0.66%   
The current 90-days correlation between New Perspective and New World Fund is 0.95 (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 census.

Moving together with New Mutual Fund

  0.98AMECX Income FundPairCorr
  1.0RNEBX New World FundPairCorr
  0.96AMFCX American MutualPairCorr
  0.97AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.98FPTPX American Funds ConsePairCorr
  0.96CDJAX American Funds CollegePairCorr
  1.0RNPAX New PerspectivePairCorr
  0.96AMRMX American MutualPairCorr
  1.0RNWBX New World FundPairCorr
  1.0RNWCX New World FundPairCorr
  1.0NPFCX New PerspectivePairCorr
  0.97ANWPX New PerspectivePairCorr
  0.98WSHFX Washington MutualPairCorr
  0.97FAFWX American Funds RetirementPairCorr
  0.99FAFGX American FundsPairCorr
  0.98FAIFX American FundsPairCorr
  0.98FAKTX American Funds 2015PairCorr
  0.98FAPTX American Funds 2025PairCorr
  0.99GWPDX American Funds GrowthPairCorr
  1.0FAXTX American Funds 2065PairCorr
  0.99GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  0.98INPFX American Funds IncomePairCorr
  1.0SCWFX Smallcap WorldPairCorr
  0.98FBAFX American Funds AmericanPairCorr
  0.98FBFWX American Funds RetirementPairCorr
  0.99CGFEX Growth FundPairCorr
  0.99CGFFX Growth FundPairCorr
  0.99CGFCX Growth FundPairCorr
  0.96CGFAX Growth FundPairCorr
  1.0FBMTX American Funds 2065PairCorr
  0.99CGQGX American Funds GrowthPairCorr

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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