New Economy Correlations

Mutual Funds . USA . 
Fund . New Economy Fund
RNGAX Fund  USD 50.82  1.11  2.23%   
The current 90-days correlation between New Economy Fund and Kinetics Small Cap is -0.14 (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

Good diversification

The correlation between New Economy Fund and DJI is -0.08 (i.e., Good 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 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 closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with New Mutual Fund

  0.74AMECX Income FundPairCorr
  0.94AMFCX American MutualPairCorr
  0.84AMFFX American MutualPairCorr
  0.85RNCCX American Funds IncomePairCorr
  1.0RNGGX New Economy FundPairCorr
  1.0RNGBX New Economy FundPairCorr
  1.0RNGEX New Economy FundPairCorr
  0.65TEBCX Tax Exempt BondPairCorr
  0.63TEAFX Tax Exempt BondPairCorr
  0.98CDJAX American Funds CollegePairCorr
  1.0AMPFX Amcap Fund ClassPairCorr
  0.97RNPBX New PerspectivePairCorr
  0.97RNPAX New PerspectivePairCorr
  0.97RNPGX New PerspectivePairCorr
  0.94AMRMX American MutualPairCorr
  0.94AMRFX American MutualPairCorr
  0.78RNWGX New World FundPairCorr
  0.79RNWCX New World FundPairCorr
  0.99ANCFX American Funds FundaPairCorr
  0.97NPFCX New PerspectivePairCorr
  0.89NPFFX New PerspectivePairCorr
  0.63TFEBX Tax Exempt BondPairCorr
  0.9PGGFX American Funds GlobalPairCorr
  0.97ANWPX New PerspectivePairCorr
  0.89BALFX American BalancedPairCorr
  0.89BALCX American BalancedPairCorr
  0.95CWGIX Capital World GrowthPairCorr
  0.87CWGFX Capital World GrowthPairCorr
  0.95CWGCX Capital World GrowthPairCorr
  0.82CEUCX Europacific GrowthPairCorr
  0.81CEUAX Europacific GrowthPairCorr
  0.98WSHFX Washington MutualPairCorr
  0.87CWICX Capital World GrowthPairCorr
  0.95CWIAX Capital World GrowthPairCorr
  0.81CEUFX Europacific GrowthPairCorr
  0.81CEUEX Europacific GrowthPairCorr

Moving against New Mutual Fund

  0.82FPPPX American Funds PresePairCorr
  0.78AMUSX Us Government SecuritiesPairCorr
  0.68CWBCX Capital World BondPairCorr
  0.85RPBEX American Funds PresePairCorr
  0.69WBFFX Capital World BondPairCorr

Related Correlations Analysis

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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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