New Economy Correlations

Mutual Funds . USA . 
Fund . New Economy Fund
RNGAX Fund  USD 55.34  0.09  0.16%   
The current 90-days correlation between New Economy Fund and Ab Bond Inflation is 0.29 (i.e., Modest 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 Your Equity Center 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 nation.

Moving together with New Mutual Fund

  0.91RNEBX New World FundPairCorr
  0.94AMFCX American MutualPairCorr
  0.94AMFFX American MutualPairCorr
  0.76RNCCX American Funds IncomePairCorr
  1.0RNGGX New Economy FundPairCorr
  1.0RNGFX New Economy FundPairCorr
  1.0RNGHX New Economy FundPairCorr
  1.0RNGBX New Economy FundPairCorr
  0.74FPTPX American Funds ConsePairCorr
  0.9RNWGX New World FundPairCorr
  0.8PGGAX American Funds GlobalPairCorr
  0.88CEUCX Europacific GrowthPairCorr
  0.97CWIAX Capital World GrowthPairCorr
  0.67CGTCX Us Government SecuritiesPairCorr
  0.86RRCTX American Funds 2020PairCorr
  0.74FCJTX American Funds 2055PairCorr
  0.73FCKTX American Funds 2060PairCorr
  0.86REJTX American Funds 2015PairCorr
  0.88RERAX Europacific GrowthPairCorr
  0.86RERGX Europacific GrowthPairCorr
  0.86RERFX Europacific GrowthPairCorr
  0.86RERHX Europacific GrowthPairCorr
  0.87RERCX Europacific GrowthPairCorr
  0.88RERBX Europacific GrowthPairCorr
  0.87REREX Europacific GrowthPairCorr
  0.87AEGFX Europacific GrowthPairCorr
  0.87AEPGX Europacific GrowthPairCorr
  0.88AWSHX Washington MutualPairCorr
  0.66RGVAX Us Government SecuritiesPairCorr
  0.66RGVCX Us Government SecuritiesPairCorr
  0.63RGVEX Us Government SecuritiesPairCorr
  0.83RIDEX 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 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.

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
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY