New Perspective Correlations

Mutual Funds . USA . 
Fund . New Perspective Fund
NPFCX Fund  USD 61.56  0.07  0.11%   
The current 90-days correlation between New Perspective and Century Small Cap is 0.59 (i.e., Very weak 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

Average diversification

The correlation between New Perspective Fund and DJI is 0.16 (i.e., Average 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 Correlation Analysis 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

  0.97RNEBX New World FundPairCorr
  0.82AMFCX American MutualPairCorr
  0.82AMFFX American MutualPairCorr
  0.88RNCCX American Funds IncomePairCorr
  0.9RNGGX New Economy FundPairCorr
  0.9RNGFX New Economy FundPairCorr
  0.9RNGHX New Economy FundPairCorr
  0.87RNGBX New Economy FundPairCorr
  0.87RNGAX New Economy FundPairCorr
  0.88FPTPX American Funds ConsePairCorr
  0.97RNWGX New World FundPairCorr
  0.92PGGAX American Funds GlobalPairCorr
  0.97CEUCX Europacific GrowthPairCorr
  0.92CWIAX Capital World GrowthPairCorr
  0.73CGTFX Us Government SecuritiesPairCorr
  0.77CGTCX Us Government SecuritiesPairCorr
  0.92RRCTX American Funds 2020PairCorr
  0.63RRPPX American Funds RetirementPairCorr
  0.91FCJTX American Funds 2055PairCorr
  0.67RROPX American Funds RetirementPairCorr
  0.91FCKTX American Funds 2060PairCorr
  0.92REJTX American Funds 2015PairCorr
  0.97RERAX Europacific GrowthPairCorr
  0.97RERGX Europacific GrowthPairCorr
  0.97RERFX Europacific GrowthPairCorr
  0.97RERHX Europacific GrowthPairCorr
  0.97RERCX Europacific GrowthPairCorr
  0.97RERBX Europacific GrowthPairCorr
  0.97REREX Europacific GrowthPairCorr
  0.97AEGFX Europacific GrowthPairCorr
  0.97AEPGX Europacific GrowthPairCorr
  0.73USGFX Us Government SecuritiesPairCorr
  0.94AWSHX Washington MutualPairCorr
  0.77RGVAX Us Government SecuritiesPairCorr
  0.77RGVCX Us Government SecuritiesPairCorr
  0.76RGVEX Us Government SecuritiesPairCorr
  0.81RIDEX Income FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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