New Perspective Correlations

Mutual Funds . USA . 
Fund . New Perspective Fund
RPEBX Fund  USD 62.98  0.21  0.33%   
The current 90-days correlation between New Perspective and Invesco Gold Special is 0.35 (i.e., 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 0.15 (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 Your Equity Center 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 bureau of labor statistics.

Moving together with New Mutual Fund

  0.85RNEBX New World FundPairCorr
  0.87AMFFX American MutualPairCorr
  0.93RNGGX New Economy FundPairCorr
  0.9RNGFX New Economy FundPairCorr
  0.9RNGHX New Economy FundPairCorr
  0.88RNGBX New Economy FundPairCorr
  0.88RNGAX New Economy FundPairCorr
  0.9RNGEX New Economy FundPairCorr
  0.91FPTPX American Funds ConsePairCorr
  0.92AMPFX Amcap Fund ClassPairCorr
  0.81AMRMX American MutualPairCorr
  0.81AMRFX American MutualPairCorr
  0.77AMUSX Us Government SecuritiesPairCorr
  0.61CDWEX American Funds DevelopingPairCorr
  0.9CWGFX Capital World GrowthPairCorr
  0.94WSHFX Washington MutualPairCorr
  0.93FAETX American Funds 2030PairCorr
  0.79WBFFX Capital World BondPairCorr
  0.92FAOTX American Funds 2020PairCorr
  0.93FAQTX American Funds 2035PairCorr
  0.92FAPTX American Funds 2025PairCorr
  0.92FATTX American Funds 2045PairCorr
  0.92FAUTX American Funds 2040PairCorr
  0.76CGTFX Us Government SecuritiesPairCorr
  0.78CGTCX Us Government SecuritiesPairCorr
  0.74RRPPX American Funds RetirementPairCorr
  0.79WFBFX Capital World BondPairCorr
  0.81BFAFX Bond FundPairCorr
  0.81BFIAX American Funds InflationPairCorr
  0.83ABNFX Bond FundPairCorr
  0.91RCNTX American Funds 2060PairCorr
  0.89RWBEX Capital World GrowthPairCorr
  0.89RWIBX Capital World GrowthPairCorr
  0.89RWIAX Capital World GrowthPairCorr
  0.9RWIHX Capital World GrowthPairCorr
  0.9RWIGX Capital World GrowthPairCorr
  0.9RWICX Capital World GrowthPairCorr

Related Correlations Analysis

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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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