New Perspective Correlations

Mutual Funds . USA . 
Fund . New Perspective Fund
NPFFX Fund  USD 65.55  0.07  0.11%   
The current 90-days correlation between New Perspective and New World Fund is 0.91 (i.e., Almost no 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 0.17 (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 census.

Moving together with New Mutual Fund

  0.96RNEBX New World FundPairCorr
  0.81AMFCX American MutualPairCorr
  0.81AMFFX American MutualPairCorr
  0.9RNCCX American Funds IncomePairCorr
  0.88RNGGX New Economy FundPairCorr
  0.88RNGFX New Economy FundPairCorr
  0.88RNGHX New Economy FundPairCorr
  0.85RNGBX New Economy FundPairCorr
  0.85RNGAX New Economy FundPairCorr
  0.89FPTPX American Funds ConsePairCorr
  0.97RNWGX New World FundPairCorr
  0.92PGGAX American Funds GlobalPairCorr
  0.97CEUCX Europacific GrowthPairCorr
  0.91CWIAX Capital World GrowthPairCorr
  0.74CGTFX Us Government SecuritiesPairCorr
  0.78CGTCX Us Government SecuritiesPairCorr
  0.92RRCTX American Funds 2020PairCorr
  0.67RRPPX American Funds RetirementPairCorr
  0.93FCJTX American Funds 2055PairCorr
  0.62RRQPX American Funds RetirementPairCorr
  0.71RROPX American Funds RetirementPairCorr
  0.92FCKTX 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
  0.75USGFX Us Government SecuritiesPairCorr
  0.94AWSHX Washington MutualPairCorr
  0.78RGVAX Us Government SecuritiesPairCorr
  0.78RGVCX Us Government SecuritiesPairCorr
  0.77RGVEX 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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