New Economy Correlations

Mutual Funds . USA . 
Fund . New Economy Fund
RNNEX Fund  USD 63.66  0.28  0.44%   
The current 90-days correlation between New Economy Fund and New Perspective Fund is 0.94 (i.e., Almost no 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.
  
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 income.

Moving together with New Mutual Fund

  0.88AMECX Income FundPairCorr
  0.91AMFCX American MutualPairCorr
  0.91AMFFX American MutualPairCorr
  0.72RNCCX American Funds IncomePairCorr
  0.83AMEFX Income FundPairCorr
  1.0RNGGX New Economy FundPairCorr
  0.94RNGFX New Economy FundPairCorr
  1.0RNGHX New Economy FundPairCorr
  0.94RNGBX New Economy FundPairCorr
  1.0RNGAX New Economy FundPairCorr
  0.94RNGEX New Economy FundPairCorr
  0.94RNGCX New Economy FundPairCorr
  0.74FPTPX American Funds ConsePairCorr
  0.96CDJAX American Funds CollegePairCorr
  0.93AMPCX Amcap Fund ClassPairCorr
  0.94AMPFX Amcap Fund ClassPairCorr
  0.92RNPBX New PerspectivePairCorr
  0.92RNPAX New PerspectivePairCorr
  0.85RNPHX New PerspectivePairCorr
  0.85RNPGX New PerspectivePairCorr
  0.92RNPCX New PerspectivePairCorr
  0.85RNPFX New PerspectivePairCorr
  0.93RNPEX New PerspectivePairCorr
  0.87AMRMX American MutualPairCorr
  0.92AMRFX American MutualPairCorr

Moving against New Mutual Fund

  0.38FPPPX American Funds PresePairCorr
  0.33TECCX Tax Exempt FundPairCorr
  0.7AMUSX Us Government SecuritiesPairCorr
  0.68ANBAX American Funds StrategicPairCorr
  0.68ANBCX American Funds StrategicPairCorr
  0.67ANBEX American Funds StrategicPairCorr
  0.67ANBGX American Funds StrategicPairCorr
  0.67ANBFX American Funds StrategicPairCorr

Related Correlations Analysis

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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.

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