New Perspective Correlations

Mutual Funds . USA . 
Fund . New Perspective Fund
RPEBX Fund  USD 60.27  1.17  1.98%   
The current 90-days correlation between New Perspective and Ashmore Emerging Markets is 0.17 (i.e., Average 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

NewDowDiversified AwayNewDowDiversified Away100%

Very weak diversification

The correlation between New Perspective Fund and DJI is 0.4 (i.e., Very weak 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

  0.91RNEBX New World FundPairCorr
  0.85AMFCX American MutualPairCorr
  0.86AMFFX American MutualPairCorr
  0.67RNCCX American Funds IncomePairCorr
  0.92RNGGX New Economy FundPairCorr
  0.9RNGFX New Economy FundPairCorr
  0.9RNGHX New Economy FundPairCorr
  0.89RNGBX New Economy FundPairCorr
  0.9RNGAX New Economy FundPairCorr
  0.9RNGEX New Economy FundPairCorr
  0.89RNGCX New Economy FundPairCorr
  0.65FPTPX American Funds ConsePairCorr
  0.88AMPFX Amcap Fund ClassPairCorr
  1.0RNPGX New PerspectivePairCorr
  0.84AMRMX American MutualPairCorr
  0.91RNWFX New World FundPairCorr
  0.91RNWGX New World FundPairCorr
  0.93ANCFX American Funds FundaPairCorr
  1.0NPFFX New PerspectivePairCorr
  0.92PGGFX American Funds GlobalPairCorr
  1.0ANWPX New PerspectivePairCorr
  0.7BALFX American BalancedPairCorr
  0.9BALCX American BalancedPairCorr
  0.92CWGIX Capital World GrowthPairCorr
  0.92CWGFX Capital World GrowthPairCorr
  0.92CWGCX Capital World GrowthPairCorr
  0.9WSHFX Washington MutualPairCorr
  0.92CWICX Capital World GrowthPairCorr
  0.92CWIAX Capital World GrowthPairCorr
  0.73FAATX American Funds 2010PairCorr
  0.9FAETX American Funds 2030PairCorr

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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