New Economy Correlations

RNGHX Fund

USD 52.02 0.07 0.13%

The current 90-days correlation between New Economy Fund and Mirova Global Green is -0.06 (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

Very poor diversification

The correlation between New Economy Fund and DJI is 0.83 (i.e., Very 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 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 rate.

Moving together with New Mutual Fund

0.61	AMFCX	American Mutual	Pair Corr
0.95	RNGGX	New Economy Fund	Pair Corr
1.0	RNGFX	New Economy Fund	Pair Corr
1.0	RNGBX	New Economy Fund	Pair Corr
0.95	RNGAX	New Economy Fund	Pair Corr
1.0	RNGEX	New Economy Fund	Pair Corr
0.95	RNGCX	New Economy Fund	Pair Corr
1.0	RNNEX	New Economy Fund	Pair Corr
0.97	CDJAX	American Funds College	Pair Corr
1.0	AMPCX	Amcap Fund Class	Pair Corr
1.0	AMPFX	Amcap Fund Class	Pair Corr
0.94	RNPBX	New Perspective	Pair Corr
0.94	RNPAX	New Perspective	Pair Corr
0.94	RNPHX	New Perspective	Pair Corr
0.94	RNPGX	New Perspective	Pair Corr
0.94	RNPCX	New Perspective	Pair Corr
0.94	RNPFX	New Perspective	Pair Corr
0.94	RNPEX	New Perspective	Pair Corr
0.75	AMRMX	American Mutual	Pair Corr
0.74	AMRFX	American Mutual	Pair Corr

Moving against New Mutual Fund

0.75	FPPPX	American Funds Prese	Pair Corr
0.72	AMUSX	Us Government Securities	Pair Corr
0.7	ANBEX	American Funds Strategic	Pair Corr
0.35	TEPFX	American Funds Tax	Pair Corr
0.33	TEPAX	American Funds Tax	Pair Corr

Related Correlations Analysis

	MGGNX	DHGCX	ANAZX	DBIWX	CABIX	MSTGX	GWOAX	NGJCX
MGGNX		0.81	0.77	0.6	0.64	0.52	0.49	0.52	MGGNX
DHGCX	0.81		0.98	0.75	0.4	0.81	0.49	0.46	DHGCX
ANAZX	0.77	0.98		0.75	0.34	0.83	0.46	0.44	ANAZX
DBIWX	0.6	0.75	0.75		0.68	0.9	0.89	0.73	DBIWX
CABIX	0.64	0.4	0.34	0.68		0.42	0.79	0.86	CABIX
MSTGX	0.52	0.81	0.83	0.9	0.42		0.74	0.57	MSTGX
GWOAX	0.49	0.49	0.46	0.89	0.79	0.74		0.78	GWOAX
NGJCX	0.52	0.46	0.44	0.73	0.86	0.57	0.78		NGJCX
	MGGNX	DHGCX	ANAZX	DBIWX	CABIX	MSTGX	GWOAX	NGJCX

Click cells to compare fundamentals

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MGGNX	0.21	(0.01)	0.41	(2.43)	0.30	(0.26)	0.35	(0.58)	1.96
DHGCX	0.19	0.00	0.60	(0.57)	0.23	(0.22)	0.47	(0.42)	1.46
ANAZX	0.20	0.01	0.56	0.96	0.16	(0.32)	0.44	(0.44)	1.32
DBIWX	0.28	0.00	0.32	(0.01)	0.46	(0.29)	0.49	(0.58)	1.77
CABIX	0.40	0.01	0.00	(0.14)	0.00	0.00	0.72	(0.85)	3.71
MSTGX	0.27	0.06	0.52	1.24	0.26	(0.31)	0.74	(0.52)	1.98
GWOAX	0.62	0.00	0.00	(0.14)	0.00	0.00	1.29	(1.33)	5.39
NGJCX	0.79	0.01	0.00	(0.16)	0.00	0.00	1.38	(1.98)	6.10

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