New Perspective Correlations

Mutual Funds . USA . 
Fund . New Perspective Fund
RNPAX Fund  USD 61.44  0.47  0.77%   
The current 90-days correlation between New Perspective and Pnc Balanced Allocation is 0.99 (i.e., No risk reduction). 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

Good diversification

The correlation between New Perspective Fund and DJI is -0.05 (i.e., Good 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 Your Equity Center 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 nation.

Moving together with New Mutual Fund

  0.96AMECX Income FundPairCorr
  0.97RNEBX New World FundPairCorr
  0.91AMFCX American MutualPairCorr
  0.91AMFFX American MutualPairCorr
  0.96RNCCX American Funds IncomePairCorr
  0.96AMEFX Income FundPairCorr
  0.98RNGGX New Economy FundPairCorr
  0.92RNGFX New Economy FundPairCorr
  0.98RNGHX New Economy FundPairCorr
  0.98RNGBX New Economy FundPairCorr
  0.98RNGAX New Economy FundPairCorr
  0.92RNGEX New Economy FundPairCorr
  0.98RNGCX New Economy FundPairCorr
  0.97FPTPX American Funds ConsePairCorr
  0.98RNNEX New Economy FundPairCorr
  1.0CDJAX American Funds CollegePairCorr
  0.98AMPCX Amcap Fund ClassPairCorr
  0.91AMPFX Amcap Fund ClassPairCorr
  1.0RNPBX New PerspectivePairCorr
  1.0RNPHX New PerspectivePairCorr
  1.0RNPGX New PerspectivePairCorr
  1.0RNPCX New PerspectivePairCorr
  1.0RNPFX New PerspectivePairCorr
  1.0RNPEX New PerspectivePairCorr
  0.87AMRMX American MutualPairCorr
  0.92AMRFX American MutualPairCorr
  0.94RNRPX American Funds RetirementPairCorr
  0.97RNWFX New World FundPairCorr

Related Correlations Analysis

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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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