New Covenant Competition

Mutual Funds . USA . 
Fund . New Enant Income
NCICX Fund  USD 21.46  0.01  0.05%   
New Enant Income competes with Putnam Premier, BlackRock Floating, GAMCO Natural, Doubleline Infrastructure, and Western Asset; as well as few others. The fund is listed under Intermediate Core-Plus Bond category and is part of New Covenant family. Analyzing New Covenant competition allows you to expand the diversification possibilities of your existing portfolios and to get a better perspective on locking in new positions. Investors sometimes prefer comparable analysis of New Covenant to its intrinsic valuation because they are able to contrast its competitors on a relative basis. Check out New Covenant Correlation with its peers.

New Covenant vs John Hancock Correlation

Very good diversification

The correlation between New Enant Income and HPF is -0.43 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Enant Income and HPF in the same portfolio, assuming nothing else is changed.

Moving together with New Mutual Fund

  0.75NCBGX New Enant BalancedPairCorr
  0.77NCBIX New Enant BalancedPairCorr
  0.75NCGFX New Enant GrowthPairCorr
  0.88DODIX Dodge IncomePairCorr
Specify up to 10 symbols:
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of New Covenant's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Hype
Prediction
LowEstimatedHigh
21.3321.4621.59
Details
Intrinsic
Valuation
LowRealHigh
19.6019.7323.61
Details
Naive
Forecast
LowNextHigh
21.2721.4121.54
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
21.4021.4621.52
Details

New Covenant Competition Correlation Matrix

Typically, diversification allows investors to combine positions across different asset classes to reduce overall portfolio risk. Correlation between New Covenant and its competitors represents the degree of relationship between the price movements of corresponding funds. A correlation of about +1.0 implies that the price of New and its corresponding peer move in tandem. A correlation of -1.0 means that prices move in opposite directions. A correlation of close to zero suggests that the price movements of assets are uncorrelated; in other words, the historical price movement of New Enant Income does not affect the price movement of the other competitor.

High positive correlations

PSCAX
+ 0.99
PSCIX
PSCIX
+ 0.94
GNT
PSCAX
+ 0.94
GNT
FINS
+ 0.86
PSCIX
FINS
+ 0.86
PSCAX
FINS
+ 0.84
GNT
  

High negative correlations

HPF
- 0.35
GNT
HPF
- 0.25
FINS
HPF
- 0.24
BILTX
HPF
- 0.21
PSCIX
HPF
- 0.19
PSCAX

Risk-Adjusted Indicators

There is a big difference between New Mutual Fund performing well and New Covenant 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 Covenant'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PPT  0.48  0.01 (0.07) 0.10  0.53 
(0.64)
 1.13 
(1.12)
 2.54 
BGT  0.41 (0.02)(0.09)(0.03) 0.75 
(0.34)
 0.64 
(0.97)
 2.87 
GNT  1.03  0.33  0.19  1.67  1.13 
(1.18)
 2.31 
(2.02)
 7.27 
BILTX  0.12 (0.01)(0.34)(0.10) 0.13 
(0.15)
 0.21 
(0.31)
 0.63 
HIO  0.42 (0.02)(0.12)(0.02) 0.49 
(0.52)
 0.82 
(0.81)
 2.18 
BFZ  0.29  0.03 (0.08) 0.38  0.20 
(0.37)
 0.74 
(0.56)
 1.57 
PSCIX  0.07  0.01 (0.33) 1.19  0.00 
(0.12)
 0.20 
(0.10)
 0.60 
PSCAX  0.05  0.01 (0.47) 1.08  0.00 
(0.11)
 0.10 
(0.10)
 0.30 
FINS  0.41  0.03 (0.05) 0.32  0.44 
(0.46)
 0.87 
(0.85)
 2.94 
HPF  0.30 (0.03) 0.00 (0.26) 0.00 
 0.00 
 0.56 
(0.55)
 1.36 

New Covenant Competitive Analysis

The better you understand New Covenant competitors, the better chance you have of utilizing it as a position in your portfolios. From an individual investor's perspective, New Covenant's competitive analysis can cover a whole range of metrics. Some of these will be more critical depending on who you are as an investor and how you react to market volatility. However, if you are locking your investment sandscape to a long-term horizon, comparing the fundamental indicator across New Covenant's competition over several years is one of the best ways to analyze its investment potential.
    
 Better Than Average     
    
 Worse Than Peers    View Performance Chart
NCICX PPT BGT GNT BILTX HIO BFZ PSCIX PSCAX FINS
 0.05 
 21.46 
New
 0.28 
 3.61 
Putnam
 0.09 
 11.48 
BlackRock
 1.75 
 8.41 
GAMCO
 0.10 
 9.58 
Doubleline
 0.27 
 3.74 
Western
 1.28 
 11.12 
BlackRock
 0.1 
 10.10 
Palmer
 0.1 
 10.11 
Palmer
 0.30 
 13.12 
Angel
Market Volatility
(90 Days Market Risk)
Very steady
Not too volatile
Very steady
Not too volatile
Very steady
Not too volatile
Very steady
Very steady
Very steady
Very steady
Market Performance
(90 Days Performance)
Fair
Soft
Weak
Solid
Fair
Weakest
Fair
Solid
Strong
Fair
Odds of Financial Distress
(Probability Of Bankruptcy)
Low
Low
Fair
Low
Low
Low
Average
Low
Low
Low
Current Valuation
(Equity Enterprise Value)
Over Valued
Fairly Valued
Fairly Valued
Under Valued
Fairly Valued
Fairly Valued
Fairly Valued
Over Valued
Over Valued
Fairly Valued
Buy or Sell Advice
(Average Analysts Consensus)
Not Available
Hold
Not Available
Strong Sell
Not Available
Not Available
Not Available
Not Available
Not Available
Strong Sell
Trade Advice
(90 Days Macroaxis Advice)
Strong Sell
Strong Hold
Buy
Strong Buy
Strong Hold
Strong Buy
Buy
Strong Sell
Strong Sell
Strong Buy
Current Ratio
N/A
0.44
0.06
N/A
N/A
1.52
0.03
N/A
N/A
0.07
Net Asset
351.75 M
468.88 M
N/A
137.37 M
357.58 M
N/A
617.32 M
262.97 M
348.28 M
486.05 M
Profit Margin
N/A
1.08
-81.36
N/A
N/A
-34.19
-0.93
N/A
N/A
1.24
EBITDA
N/A
24.99 M
N/A
5.26 M
N/A
N/A
12.01 M
N/A
N/A
39.39 M
Price To Book
N/A
0.95
0.84
1.2
N/A
0.77
0.98
2.67
1.31
0.95
Operating Margin
N/A
0.85
82.19
N/A
N/A
87.02
0.79
N/A
N/A
0.77
Current Valuation
N/A
342.44 M
370.63 M
N/A
N/A
355.07 M
516.45 M
N/A
N/A
434.42 M
Five Year Return
0.21
7.5
6.44
9.44
1.37
2.74
4.16
4.47
4.27
N/A
Retained Earnings
N/A
(238 M)
N/A
(101.01 M)
N/A
N/A
(71.64 M)
N/A
N/A
(46.32 M)
One Year Return
7.06
N/A
5.59
N/A
7.66
8.53
N/A
7.4
7.32
N/A
Beta
N/A
0.28
0.62
0.7
N/A
0.6
0.6
N/A
N/A
0.21
Cash Position Weight
2.87
N/A
N/A
N/A
1.66
N/A
N/A
26.14
34.55
N/A
Equity Positions Weight
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.41
-19.7
N/A
Shares Outstanding
N/A
95.57 M
22.36 M
16.2 M
N/A
95.1 M
30.06 M
N/A
N/A
33.42 M
Three Year Return
3.96
N/A
9.02
N/A
5.95
6.48
N/A
7.63
7.33
N/A
Cash Flow From Operations
N/A
N/A
20.97 M
N/A
N/A
N/A
(12.2 M)
N/A
N/A
40.43 M
Annual Yield
0.0324
0.0864
0.0042
0.0674
0.0439
0.0078
0.0547
0.0509
0.0501
0.1
Total Debt
N/A
105.89 M
127 M
934.71 K
N/A
N/A
251.39 M
N/A
N/A
131.64 M
Return On Equity
N/A
0.0684
-5.63
N/A
N/A
-2.44
-0.0654
N/A
N/A
0.11
Bond Positions Weight
95.42
N/A
N/A
N/A
14.78
N/A
N/A
N/A
N/A
N/A
Return On Asset
N/A
0.0246
2.33
N/A
N/A
3.81
0.0214
N/A
N/A
0.0311
Number Of Shares Shorted
N/A
41.72 K
21.5 K
62.09 K
N/A
66.86 K
12.91 K
N/A
N/A
5.27 K
Book Value Per Share
N/A
3.8
13.4
N/A
N/A
5.27
11.36
N/A
N/A
13.82
Minimum Initial Investment
500
N/A
N/A
N/A
N/A
N/A
N/A
100 K
N/A
N/A
Total Asset
351.75 M
468.88 M
N/A
137.37 M
8.58 M
N/A
617.32 M
262.11 M
1.32 M
486.05 M
Last Dividend Paid
0.03
0.31
0.94
N/A
0.03
0.36
0.71
0.1
0.06
1.31
Debt To Equity
N/A
0.045
0.47
N/A
N/A
N/A
0.65
N/A
N/A
0.44
Short Ratio
N/A
0.16
0.23
0.57
N/A
0.28
0.08
N/A
N/A
0.06
Shares Owned By Institutions
N/A
41.9
33.96
31.62
N/A
44.33
23.57
N/A
N/A
97.77
Market Capitalization
N/A
345 M
260.59 M
137.04 M
N/A
412.73 M
334.31 M
N/A
N/A
439.77 M
Price To Earning
N/A
23.53
93.42
7.87
N/A
28.39
13.39
4.5
4.58
6.93
Price To Sales
N/A
14.89
12.6
5.93
N/A
10.98
13.05
1.87
0.87
13.83
Net Income
N/A
24.99 M
(16.18 M)
5.26 M
N/A
(12.02 M)
(23.81 M)
N/A
N/A
39.39 M
Earnings Per Share
N/A
0.26
0.12
1.37
N/A
0.14
-0.79
N/A
N/A
1.85
Shares Owned By Insiders
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
5.2
Year To Date Return
0.0359
N/A
0.25
N/A
0.31
0.89
N/A
0.6
0.9
N/A
Revenue
N/A
25.74 M
19.89 M
10.61 M
N/A
35.16 M
25.61 M
N/A
N/A
40.39 M
Ten Year Return
2.96
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Cash And Equivalents
N/A
304.97 K
881.28 K
N/A
N/A
1.55 M
430.8 K
N/A
N/A
100 K
Cash Per Share
N/A
N/A
0.04
N/A
N/A
0.02
0.01
N/A
N/A
0.01
Gross Profit
N/A
23.17 M
19.49 M
N/A
N/A
36.3 M
25.61 M
N/A
N/A
31.8 M
Day Typical Price
21.46
3.61
11.47
8.46
9.58
3.74
11.08
10.1
10.11
13.12
Accumulation Distribution
N/A
2565.05
317.72
0.021
N/A
1695.46
1076.85
N/A
N/A
N/A
Market Facilitation Index
N/A
N/A
0.0
0.18
N/A
N/A
0.0
N/A
N/A
N/A
Daily Balance Of Power
0
(0.25)
0.1667
(0.83)
9.2 T
0.5
1.272727
9.2 T
9.2 T
0
Period Momentum Indicator
(0.01)
(0.01)
0.01
(0.15)
0.01
0.01
0.14
0.01
0.01
(0.04)
Rate Of Daily Change
1.0
1.0
1.0
0.98
1.0
1.0
1.01
1.0
1.0
1.0
Day Median Price
21.46
3.61
11.47
8.48
9.58
3.74
11.07
10.1
10.11
13.12
Price Action Indicator
(0.01)
(0.01)
0.015
(0.15)
0.005
0.005
0.12
0.005
0.005
(0.02)
Relative Strength Index
54.7
56.6
56.21
69.83
56.82
54.9
66.86
77.46
84.87
54.15
Coefficient Of Variation
2203.48
2289.81
19447.09
383.96
3172.0
9801.49
790.02
390.68
281.13
1209.8
Mean Deviation
0.1128
0.4836
0.4137
1.03
0.1171
0.424
0.2943
0.0703
0.0542
0.4148
Jensen Alpha
(0.01)
0.0058
(0.02)
0.3308
(0.01)
(0.02)
0.0325
0.0135
0.0133
0.0297
Total Risk Alpha
(0.02)
(0.04)
(0.06)
0.2241
(0.02)
(0.05)
0.0049
0.0059
0.0082
(0.01)
Sortino Ratio
(0.43)
(0.07)
(0.09)
0.1868
(0.34)
(0.12)
(0.08)
(0.33)
(0.47)
(0.05)
Downside Variance
0.0253
0.5014
0.6168
2.23
0.0412
0.3417
0.1147
0.0234
0.0117
0.2689
Standard Deviation
0.1425
0.6257
0.5802
1.36
0.1545
0.5367
0.3888
0.0947
0.068
0.5727
Kurtosis
0.665
(0.26)
2.39
1.17
0.1205
0.2505
0.7975
2.09
0.1611
2.99
Potential Upside
0.2344
1.13
0.6416
2.31
0.2107
0.8219
0.7421
0.1986
0.1004
0.8668
Treynor Ratio
(0.07)
0.0973
(0.03)
1.67
(0.1)
(0.02)
0.3788
1.19
1.08
0.3151
Maximum Drawdown
0.5606
2.54
2.87
7.27
0.6306
2.18
1.57
0.6015
0.2997
2.94
Variance
0.0203
0.3915
0.3366
1.85
0.0239
0.2881
0.1511
0.009
0.0046
0.328
Market Risk Adjusted Performance
(0.06)
0.1073
(0.02)
1.68
(0.09)
(0.01)
0.3888
1.2
1.09
0.3251
Risk Adjusted Performance
(0.01)
0.0304
0.0011
0.1961
(0.01)
0.0038
0.0842
0.1206
0.1635
0.0579
Skewness
(0.34)
(0.07)
(0.87)
(0.68)
(0.40)
(0.11)
0.6131
(0.28)
0.2539
0.7984
Semi Deviation
0.115
0.5297
0.7499
1.13
0.127
0.487
0.2029
0.0
0.0
0.4415
Information Ratio
(0.48)
(0.08)
(0.12)
0.2054
(0.45)
(0.13)
(0.07)
(0.53)
(0.75)
(0.05)
Value At Risk
(0.19)
(1.12)
(0.97)
(2.02)
(0.31)
(0.81)
(0.56)
(0.10)
(0.10)
(0.85)
Expected Short fall
(0.12)
(0.64)
(0.34)
(1.18)
(0.15)
(0.52)
(0.37)
(0.12)
(0.11)
(0.46)
Downside Deviation
0.1589
0.7081
0.7854
1.49
0.203
0.5845
0.3387
0.153
0.1081
0.5186
Semi Variance
0.0132
0.2806
0.5623
1.28
0.0161
0.2371
0.0412
(0.02)
(0.02)
0.1949

New Covenant Competition Performance Charts

Five steps to successful analysis of New Covenant Competition

New Covenant's competitive analysis is the process of researching and evaluating its competitive landscape. It provides an understanding of the strengths, weaknesses, opportunities, and threats (SWOT) faced by New Enant Income in relation to its competition. New Covenant's competition analysis typically involves several steps, including:
  • Identifying the key players in the market: This involves identifying the major competitors of New Covenant in the market, both direct and indirect, as well as new entrants and disruptive technologies.
  • Assessing the strengths and weaknesses of each competitor: This involves evaluating each competitor's strengths and weaknesses in areas such as product offerings, market share, brand recognition, financial performance, and distribution channels.
  • Understanding the competitive environment: This involves evaluating the regulatory environment, economic conditions, and other factors that may impact New Covenant's competitive landscape.
  • Identifying opportunities and threats: This involves using the information gathered during the analysis to identify opportunities and threats to New Enant Income, and developing a strategy to address them.
  • Evaluating the competitive landscape: This involves understanding the competitive dynamics of the market, such as pricing, marketing, and distribution strategies, as well as analyzing the competitive advantage of each competitor.
Competitive analysis is an essential tool for businesses to stay ahead of the competition and can be used to inform decision-making and strategy development. By understanding the competitive landscape and staying informed about the activities of competitors, a company can make more informed decisions and improve its overall performance.

Complement your New Covenant position

In addition to having New Covenant in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.

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Conservative Funds Theme
Funds or Etfs that invest using buy-and-hold investment strategy in companies with consistent growth over many years of operation. The Conservative Funds theme has 48 constituents at this time.
You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Conservative Funds Theme or any other thematic opportunities.
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Other Information on Investing in New Mutual Fund

New Covenant financial ratios help investors to determine whether New Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in New with respect to the benefits of owning New Covenant security.
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