New Economy Correlations

RNGHX Fund

USD 67.04 0.32 0.48%

The current 90-days correlation between New Economy Fund and Qs Small Capitalization is 0.1 (i.e., Average 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

Significant diversification

The correlation between New Economy Fund and DJI is 0.04 (i.e., Significant 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

0.86	AMECX	Income Fund	Pair Corr
0.93	AMFCX	American Mutual	Pair Corr
0.94	AMFFX	American Mutual	Pair Corr
0.64	RNCCX	American Funds Income	Pair Corr
0.87	AMEFX	Income Fund	Pair Corr
0.94	RNGAX	New Economy Fund	Pair Corr
0.75	FPTPX	American Funds Conse	Pair Corr
0.85	RNPGX	New Perspective	Pair Corr
0.85	RNPFX	New Perspective	Pair Corr
0.85	RNPEX	New Perspective	Pair Corr
0.94	AMRFX	American Mutual	Pair Corr
0.94	ANCFX	American Funds Funda	Pair Corr
0.94	ANFCX	New Economy Fund	Pair Corr
0.94	ANFFX	New Economy Fund	Pair Corr
0.85	NPFFX	New Perspective	Pair Corr
0.95	PGGFX	American Funds Global	Pair Corr
0.85	ANWPX	New Perspective	Pair Corr
0.91	BALFX	American Balanced	Pair Corr
0.9	BALCX	American Balanced	Pair Corr
0.79	CWGIX	Capital World Growth	Pair Corr
0.79	CWGFX	Capital World Growth	Pair Corr
0.78	CWGCX	Capital World Growth	Pair Corr
0.92	WSHFX	Washington Mutual	Pair Corr
0.87	CWIFX	Capital World Growth	Pair Corr
0.78	CWICX	Capital World Growth	Pair Corr

Moving against New Mutual Fund

0.52	FPPPX	American Funds Prese	Pair Corr
0.4	CEAMX	Short Term Bond	Pair Corr
0.31	TEBCX	Tax Exempt Bond	Pair Corr
0.71	CFAAX	Bond Fund	Pair Corr

Related Correlations Analysis

	LMBMX	MSSGX	CIPNX	HSCYX	BSGSX	JISGX	QUAKX
LMBMX		0.88	0.95	0.99	0.95	0.98	0.97	LMBMX
MSSGX	0.88		0.92	0.89	0.96	0.91	0.86	MSSGX
CIPNX	0.95	0.92		0.94	0.92	0.98	0.88	CIPNX
HSCYX	0.99	0.89	0.94		0.95	0.98	0.98	HSCYX
BSGSX	0.95	0.96	0.92	0.95		0.95	0.94	BSGSX
JISGX	0.98	0.91	0.98	0.98	0.95		0.95	JISGX
QUAKX	0.97	0.86	0.88	0.98	0.94	0.95		QUAKX
	LMBMX	MSSGX	CIPNX	HSCYX	BSGSX	JISGX	QUAKX

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
LMBMX	0.94	(0.05)	0.02	0.10	0.99	(1.04)	1.95	(1.75)	8.01
MSSGX	1.47	0.56	0.27	6.33	1.17	(1.77)	3.46	(2.26)	7.23
CIPNX	0.82	(0.01)	0.03	0.12	0.87	(0.86)	1.72	(1.65)	7.22
HSCYX	0.87	(0.02)	0.02	0.11	0.97	(0.93)	1.77	(1.57)	6.60
BSGSX	0.80	0.17	0.06	0.80	0.84	(0.87)	1.90	(1.52)	5.09
JISGX	0.89	(0.02)	0.02	0.11	1.04	(0.96)	1.91	(1.76)	6.72
QUAKX	0.93	0.01	0.05	0.14	1.04	(0.96)	1.92	(2.15)	6.77

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