New Economy Correlations

ANFCX Fund

USD 52.67 0.08 0.15%

The current 90-days correlation between New Economy Fund and Lebenthal Lisanti Small is 0.6 (i.e., Poor 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 weak diversification

The correlation between New Economy Fund and DJI is 0.54 (i.e., Very weak 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 Trending Equities 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 main economic indicators.

Moving together with New Mutual Fund

0.9	RNEBX	New World Fund	Pair Corr
0.94	AMFCX	American Mutual	Pair Corr
0.94	AMFFX	American Mutual	Pair Corr
0.74	RNCCX	American Funds Income	Pair Corr
0.99	RNGGX	New Economy Fund	Pair Corr
0.99	RNGFX	New Economy Fund	Pair Corr
0.99	RNGHX	New Economy Fund	Pair Corr
1.0	RNGBX	New Economy Fund	Pair Corr
1.0	RNGAX	New Economy Fund	Pair Corr
0.73	FPTPX	American Funds Conse	Pair Corr
0.89	RNWGX	New World Fund	Pair Corr
0.79	PGGAX	American Funds Global	Pair Corr
0.88	CEUCX	Europacific Growth	Pair Corr
0.97	CWIAX	Capital World Growth	Pair Corr
0.66	CGTCX	Us Government Securities	Pair Corr
0.85	RRCTX	American Funds 2020	Pair Corr
0.73	FCJTX	American Funds 2055	Pair Corr
0.71	FCKTX	American Funds 2060	Pair Corr
0.86	REJTX	American Funds 2015	Pair Corr
0.88	RERAX	Europacific Growth	Pair Corr
0.85	RERGX	Europacific Growth	Pair Corr
0.85	RERFX	Europacific Growth	Pair Corr
0.86	RERHX	Europacific Growth	Pair Corr
0.87	RERCX	Europacific Growth	Pair Corr
0.88	RERBX	Europacific Growth	Pair Corr
0.86	REREX	Europacific Growth	Pair Corr
0.86	AEGFX	Europacific Growth	Pair Corr
0.86	AEPGX	Europacific Growth	Pair Corr
0.87	AWSHX	Washington Mutual	Pair Corr
0.65	RGVAX	Us Government Securities	Pair Corr
0.65	RGVCX	Us Government Securities	Pair Corr
0.62	RGVEX	Us Government Securities	Pair Corr
0.83	RIDEX	Income Fund	Pair Corr

Related Correlations Analysis

	ASCGX	NESGX	CCMSX	TVOYX	FCSGX	TISVX	OWLLX
ASCGX		0.68	0.0	0.69	0.65	0.11	0.74	ASCGX
NESGX	0.68		0.0	0.29	0.48	0.15	0.3	NESGX
CCMSX	0.0	0.0		0.0	0.0	0.0	0.0	CCMSX
TVOYX	0.69	0.29	0.0		0.88	0.51	0.99	TVOYX
FCSGX	0.65	0.48	0.0	0.88		0.6	0.84	FCSGX
TISVX	0.11	0.15	0.0	0.51	0.6		0.45	TISVX
OWLLX	0.74	0.3	0.0	0.99	0.84	0.45		OWLLX
	ASCGX	NESGX	CCMSX	TVOYX	FCSGX	TISVX	OWLLX

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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

OWLLX	+ 0.99	TVOYX
FCSGX	+ 0.88	TVOYX
OWLLX	+ 0.84	FCSGX
OWLLX	+ 0.74	ASCGX
TVOYX	+ 0.69	ASCGX
NESGX	+ 0.68	ASCGX

High negative correlations

OWLLX	- 0.0	CCMSX
TISVX	- 0.0	CCMSX
FCSGX	- 0.0	CCMSX
TVOYX	- 0.0	CCMSX
CCMSX	- 0.0	NESGX
CCMSX	- 0.0	ASCGX

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
ASCGX	1.15	(0.13)	0.00	(0.16)	0.00	0.00	2.05	(2.34)	7.17
NESGX	1.24	(0.05)	0.00	(0.07)	0.00	0.00	2.06	(2.39)	8.46
CCMSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TVOYX	0.71	(0.07)	0.00	(0.09)	0.00	0.00	1.52	(1.37)	5.29
FCSGX	0.84	(0.04)	0.00	(0.05)	0.00	0.00	1.70	(1.66)	5.89
TISVX	0.71	0.04	0.03	0.06	1.26	(0.68)	1.24	(1.43)	9.81
OWLLX	0.76	(0.09)	0.00	(0.11)	0.00	0.00	1.64	(1.57)	5.77

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