New Enant Correlations

NCICX Fund

USD 21.51 0.02 0.09%

The current 90-days correlation between New Enant Income and Putnam Premier Income is 0.11 (i.e., Average diversification). The correlation of New Enant 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 Enant Correlation With Market

Good diversification

The correlation between New Enant Income and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Enant Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Enant Income. 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 services.

Moving together with New Mutual Fund

0.93	DODIX	Dodge Income	Pair Corr
0.62	DOXIX	Dodge Cox Income	Pair Corr
0.83	FIWGX	Strategic Advisers	Pair Corr
0.67	MWTNX	Metropolitan West Total	Pair Corr
0.73	MWTSX	Metropolitan West Total	Pair Corr
0.96	PTTPX	Pimco Total Return	Pair Corr
0.95	PTRRX	Total Return	Pair Corr
0.87	PTRAX	Total Return	Pair Corr
0.87	PTTRX	Total Return	Pair Corr
0.84	PDBSX	Prudential Total Return	Pair Corr
0.75	SSFDX	State Street Aggregate	Pair Corr
0.77	BIPIX	Biotechnology Ultrasector	Pair Corr
0.98	FTHRX	Fidelity Intermediate	Pair Corr
0.78	TIBFX	Tiaa Cref Bond	Pair Corr
0.68	FTMAX	Franklin Templeton	Pair Corr
0.98	WCPBX	Core Plus Income	Pair Corr
0.82	PONAX	Pimco Income	Pair Corr

Related Correlations Analysis

	PPT	BGT	GNT	BILTX	HIO	BFZ	PSCIX	PSCAX	FINS	HPF
PPT		0.69	-0.57	-0.33	0.42	-0.17	-0.68	-0.18	-0.42	0.79	PPT
BGT	0.69		-0.44	-0.39	0.22	-0.41	-0.76	-0.41	-0.57	0.79	BGT
GNT	-0.57	-0.44		0.32	-0.27	-0.09	0.61	-0.24	0.68	-0.61	GNT
BILTX	-0.33	-0.39	0.32		-0.23	0.35	0.58	0.1	0.36	-0.45	BILTX
HIO	0.42	0.22	-0.27	-0.23		0.09	-0.14	-0.03	0.06	0.35	HIO
BFZ	-0.17	-0.41	-0.09	0.35	0.09		0.51	0.52	0.4	-0.14	BFZ
PSCIX	-0.68	-0.76	0.61	0.58	-0.14	0.51		0.29	0.77	-0.7	PSCIX
PSCAX	-0.18	-0.41	-0.24	0.1	-0.03	0.52	0.29		-0.01	-0.09	PSCAX
FINS	-0.42	-0.57	0.68	0.36	0.06	0.4	0.77	-0.01		-0.45	FINS
HPF	0.79	0.79	-0.61	-0.45	0.35	-0.14	-0.7	-0.09	-0.45		HPF
	PPT	BGT	GNT	BILTX	HIO	BFZ	PSCIX	PSCAX	FINS	HPF

Please upgrade your account to get full access to Macroaxis premium features

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

HPF	+ 0.79	PPT
HPF	+ 0.79	BGT
FINS	+ 0.77	PSCIX
BGT	+ 0.69	PPT
FINS	+ 0.68	GNT
PSCIX	+ 0.61	GNT

High negative correlations

PSCIX	- 0.76	BGT
HPF	- 0.7	PSCIX
PSCIX	- 0.68	PPT
HPF	- 0.61	GNT
FINS	- 0.57	BGT
GNT	- 0.57	PPT

Risk-Adjusted Indicators

There is a big difference between New Mutual Fund performing well and New Enant 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 Enant'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
PPT	0.48	(0.06)	0.00	(0.17)	0.00	0.00	1.12	(1.11)	2.53
BGT	0.50	(0.07)	0.00	(0.17)	0.00	0.00	1.02	(1.17)	3.52
GNT	1.06	0.14	0.07	0.32	1.34	(1.14)	2.06	(2.35)	7.21
BILTX	0.12	0.01	(0.36)	0.54	0.00	(0.15)	0.21	(0.21)	0.73
HIO	0.52	(0.08)	0.00	(0.12)	0.00	0.00	1.08	(1.58)	3.13
BFZ	0.32	0.00	(0.16)	0.05	0.33	(0.42)	0.74	(0.73)	1.86
PSCIX	0.07	0.01	(0.38)	0.96	0.00	(0.13)	0.20	(0.10)	0.80
PSCAX	0.08	(0.02)	0.00	(6.59)	0.00	0.00	0.10	(0.10)	2.44
FINS	0.43	0.02	(0.08)	0.26	0.47	(0.46)	0.86	(0.85)	2.85
HPF	0.32	(0.07)	0.00	(0.14)	0.00	0.00	0.49	(0.61)	1.81

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC