New Perspective Correlations

RNPCX Fund

USD 64.13 0.21 0.33%

The current 90-days correlation between New Perspective and Pnc International Equity is 0.01 (i.e., Significant 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 0.93 (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 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 main economic indicators.

Moving together with New Mutual Fund

1.0	FNFPX	American Funds New	Pair Corr
1.0	FFPNX	American Funds New	Pair Corr
1.0	NPFCX	New Perspective	Pair Corr
0.93	ANWPX	New Perspective	Pair Corr
1.0	NPFFX	New Perspective	Pair Corr
1.0	CNPAX	New Perspective	Pair Corr
1.0	CNPEX	New Perspective	Pair Corr
1.0	CNPFX	New Perspective	Pair Corr
1.0	CNPCX	New Perspective	Pair Corr
1.0	RNPAX	New Perspective	Pair Corr
0.88	VTSAX	Vanguard Total Stock	Pair Corr
0.88	VFIAX	Vanguard 500 Index	Pair Corr
0.88	VTSMX	Vanguard Total Stock	Pair Corr
0.88	VSMPX	Vanguard Total Stock	Pair Corr
0.88	VSTSX	Vanguard Total Stock	Pair Corr
0.96	VITSX	Vanguard Total Stock	Pair Corr
0.87	VFINX	Vanguard 500 Index	Pair Corr
0.88	VFFSX	Vanguard 500 Index	Pair Corr
0.74	VGTSX	Vanguard Total Inter	Pair Corr
0.73	VTIAX	Vanguard Total Inter	Pair Corr
0.7	EMF	Templeton Emerging	Pair Corr
0.94	AXP	American Express Sell-off Trend	Pair Corr
0.76	MSFT	Microsoft Aggressive Push	Pair Corr
0.86	GE	GE Aerospace	Pair Corr
0.9	JPM	JPMorgan Chase	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr
0.8	BA	Boeing Aggressive Push	Pair Corr
0.61	WMT	Walmart Sell-off Trend	Pair Corr
0.78	HD	Home Depot Earnings Call Today	Pair Corr
0.87	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.88	DIS	Walt Disney Aggressive Push	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr
0.89	CAT	Caterpillar	Pair Corr

Moving against New Mutual Fund

0.31

Coca Cola Sell-off Trend

Pair Corr

Related Correlations Analysis

	PMIEX	TRWIX	DDCFX	SMNIX	TOIIX	CIESX	QLENX
PMIEX		0.98	0.11	-0.17	0.81	0.95	0.75	PMIEX
TRWIX	0.98		0.22	-0.05	0.83	0.93	0.71	TRWIX
DDCFX	0.11	0.22		0.58	0.18	0.02	0.07	DDCFX
SMNIX	-0.17	-0.05	0.58		0.21	-0.27	0.14	SMNIX
TOIIX	0.81	0.83	0.18	0.21		0.67	0.88	TOIIX
CIESX	0.95	0.93	0.02	-0.27	0.67		0.62	CIESX
QLENX	0.75	0.71	0.07	0.14	0.88	0.62		QLENX
	PMIEX	TRWIX	DDCFX	SMNIX	TOIIX	CIESX	QLENX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TRWIX	+ 0.98	PMIEX
CIESX	+ 0.95	PMIEX
CIESX	+ 0.93	TRWIX
QLENX	+ 0.88	TOIIX
TOIIX	+ 0.83	TRWIX
TOIIX	+ 0.81	PMIEX

High negative correlations

CIESX	- 0.27	SMNIX
SMNIX	- 0.17	PMIEX
SMNIX	- 0.05	TRWIX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PMIEX	0.90	0.09	0.10	(3.42)	1.39	(0.92)	2.02	(2.33)	8.62
TRWIX	0.96	0.12	0.09	7.15	1.72	(0.92)	2.16	(2.54)	9.87
DDCFX	0.24	0.02	0.23	(0.53)	0.25	(0.28)	0.54	(0.43)	1.63
SMNIX	0.45	0.05	0.20	0.92	0.41	(0.51)	0.97	(0.74)	2.62
TOIIX	0.85	0.21	0.14	0.29	1.39	(0.85)	2.02	(2.16)	9.67
CIESX	0.92	0.05	0.07	(1.20)	1.46	(0.96)	1.75	(2.03)	7.84
QLENX	0.58	0.11	0.13	0.20	1.03	(0.56)	0.96	(0.88)	5.33

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