New Alternatives Correlations

NAEFX Fund

USD 64.05 0.31 0.48%

The current 90-days correlation between New Alternatives and New Alternatives Fund is 0.06 (i.e., Significant diversification). The correlation of New Alternatives 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.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Alternatives 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 census.

Moving together with New Mutual Fund

0.92

NALFX

New Alternatives

Pair Corr

Moving against New Mutual Fund

0.59	KMKAX	Kinetics Market Oppo Steady Growth	Pair Corr
0.59	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.57	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.57	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.57	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.57	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.56	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.56	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.36	LTFOX	Lord Abbett Affiliated	Pair Corr
0.46	VSMVX	Vanguard Sp Small	Pair Corr
0.45	SMERX	Invesco Small Cap	Pair Corr
0.43	GRSPX	Greenspring Fund Retail	Pair Corr
0.34	SCRYX	Small Cap Core	Pair Corr
0.33	VIGAX	Vanguard Growth Index	Pair Corr
0.31	VTSAX	Vanguard Total Stock	Pair Corr

Related Correlations Analysis

	NAEFX	NALFX	RCILX	VNSNX	FCYIX	VTSAX	USPRX	VFINX	SCRYX	FPURX
NAEFX		0.92	-0.19	-0.16	-0.22	-0.31	-0.29	-0.25	-0.34	-0.19	NAEFX
NALFX	0.92		-0.25	-0.27	-0.33	-0.41	-0.39	-0.36	-0.44	-0.29	NALFX
RCILX	-0.19	-0.25		0.78	0.81	0.75	0.82	0.76	0.61	0.76	RCILX
VNSNX	-0.16	-0.27	0.78		0.92	0.88	0.91	0.89	0.79	0.89	VNSNX
FCYIX	-0.22	-0.33	0.81	0.92		0.87	0.98	0.88	0.76	0.86	FCYIX
VTSAX	-0.31	-0.41	0.75	0.88	0.87		0.87	1.0	0.92	0.99	VTSAX
USPRX	-0.29	-0.39	0.82	0.91	0.98	0.87		0.87	0.74	0.85	USPRX
VFINX	-0.25	-0.36	0.76	0.89	0.88	1.0	0.87		0.9	0.99	VFINX
SCRYX	-0.34	-0.44	0.61	0.79	0.76	0.92	0.74	0.9		0.91	SCRYX
FPURX	-0.19	-0.29	0.76	0.89	0.86	0.99	0.85	0.99	0.91		FPURX
	NAEFX	NALFX	RCILX	VNSNX	FCYIX	VTSAX	USPRX	VFINX	SCRYX	FPURX

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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

VFINX	+ 1.0	VTSAX
FPURX	+ 0.99	VTSAX
FPURX	+ 0.99	VFINX
USPRX	+ 0.98	FCYIX
NALFX	+ 0.92	NAEFX
FCYIX	+ 0.92	VNSNX

High negative correlations

SCRYX	- 0.44	NALFX
VTSAX	- 0.41	NALFX
USPRX	- 0.39	NALFX
VFINX	- 0.36	NALFX
SCRYX	- 0.34	NAEFX
FCYIX	- 0.33	NALFX

Risk-Adjusted Indicators

There is a big difference between New Mutual Fund performing well and New Alternatives 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 Alternatives' 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
NAEFX	0.74	0.00	0.00	0.00	0.00	0.00	1.29	(1.44)	7.20
NALFX	0.71	(0.05)	0.00	0.58	0.00	0.00	1.19	(1.43)	6.70
RCILX	0.12	0.01	(0.18)	2.05	0.26	(0.18)	0.10	(0.21)	3.59
VNSNX	0.67	(0.04)	(0.04)	0.08	1.02	(0.69)	1.52	(1.67)	4.90
FCYIX	0.80	0.16	0.05	1.30	0.84	(0.82)	1.97	(1.51)	7.00
VTSAX	0.57	0.10	(0.02)	2.46	0.65	(0.61)	1.10	(1.31)	4.11
USPRX	0.56	0.09	(0.04)	(3.57)	0.68	(0.60)	1.18	(1.32)	3.91
VFINX	0.55	0.08	(0.04)	2.69	0.66	(0.57)	1.17	(1.31)	3.84
SCRYX	0.94	0.11	0.00	5.30	0.93	(1.07)	2.10	(1.69)	7.88
FPURX	0.40	0.06	(0.09)	1.11	0.48	(0.43)	0.99	(0.94)	2.82

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New Alternatives Correlations

Moving together with New Mutual Fund

Moving against New Mutual Fund

Related Correlations Analysis

Correlation Matchups

Risk-Adjusted Indicators

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