New World Correlations

RNWHX Fund

USD 80.15 0.22 0.27%

The current 90-days correlation between New World Fund and Siit Emerging Markets is -0.01 (i.e., Good diversification). The correlation of New World 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 World Correlation With Market

Good diversification

The correlation between New World Fund and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New World 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 World 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 rate.

Moving together with New Mutual Fund

0.62	AMECX	Income Fund	Pair Corr
1.0	RNEBX	New World Fund	Pair Corr
0.73	RNCCX	American Funds Income	Pair Corr
0.61	AMEFX	Income Fund	Pair Corr
0.79	FPTPX	American Funds Conse	Pair Corr
0.71	RNPBX	New Perspective	Pair Corr
0.71	RNPAX	New Perspective	Pair Corr
0.75	RNPHX	New Perspective	Pair Corr
0.69	RNPGX	New Perspective	Pair Corr
0.7	RNPCX	New Perspective	Pair Corr
0.69	RNPFX	New Perspective	Pair Corr
0.7	RNPEX	New Perspective	Pair Corr
0.76	RNRPX	American Funds Retirement	Pair Corr
1.0	RNWFX	New World Fund	Pair Corr

Related Correlations Analysis

	SMQFX	BXECX	PIEFX	REMVX	SEKRX	FEMDX	RESAX
SMQFX		0.74	0.9	0.91	0.94	0.64	0.58	SMQFX
BXECX	0.74		0.55	0.74	0.7	0.43	0.92	BXECX
PIEFX	0.9	0.55		0.89	0.97	0.65	0.42	PIEFX
REMVX	0.91	0.74	0.89		0.96	0.41	0.56	REMVX
SEKRX	0.94	0.7	0.97	0.96		0.59	0.55	SEKRX
FEMDX	0.64	0.43	0.65	0.41	0.59		0.47	FEMDX
RESAX	0.58	0.92	0.42	0.56	0.55	0.47		RESAX
	SMQFX	BXECX	PIEFX	REMVX	SEKRX	FEMDX	RESAX

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Risk-Adjusted Indicators

There is a big difference between New Mutual Fund performing well and New World 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 World'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
SMQFX	0.58	(0.04)	(0.13)	0.02	0.76	(0.58)	1.27	(1.33)	3.52
BXECX	0.26	0.01	(0.35)	(0.06)	0.24	(0.38)	0.67	(0.40)	1.45
PIEFX	0.80	0.03	(0.10)	(0.08)	0.97	(0.93)	1.82	(1.45)	4.54
REMVX	0.88	0.00	0.00	0.15	0.00	0.00	1.78	(2.04)	6.85
SEKRX	0.77	0.03	(0.10)	(0.19)	0.98	(0.79)	1.85	(1.49)	5.33
FEMDX	0.15	0.03	(0.41)	0.56	0.00	(0.21)	0.42	(0.25)	1.08
RESAX	0.20	0.00	(0.38)	0.27	0.17	(0.31)	0.49	(0.37)	1.71

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New World Correlations

New World Correlation With Market

Good diversification

Moving together with New Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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