New Perspective Correlations
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
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.
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Moving together with New Mutual Fund
0.91 | RNEBX | New World Fund | PairCorr |
0.85 | AMFCX | American Mutual | PairCorr |
0.86 | AMFFX | American Mutual | PairCorr |
0.67 | RNCCX | American Funds Income | PairCorr |
0.92 | RNGGX | New Economy Fund | PairCorr |
0.9 | RNGFX | New Economy Fund | PairCorr |
0.9 | RNGHX | New Economy Fund | PairCorr |
0.89 | RNGBX | New Economy Fund | PairCorr |
0.9 | RNGAX | New Economy Fund | PairCorr |
0.9 | RNGEX | New Economy Fund | PairCorr |
0.89 | RNGCX | New Economy Fund | PairCorr |
0.65 | FPTPX | American Funds Conse | PairCorr |
0.88 | AMPFX | Amcap Fund Class | PairCorr |
1.0 | RNPGX | New Perspective | PairCorr |
0.84 | AMRMX | American Mutual | PairCorr |
0.91 | RNWFX | New World Fund | PairCorr |
0.91 | RNWGX | New World Fund | PairCorr |
0.93 | ANCFX | American Funds Funda | PairCorr |
1.0 | NPFFX | New Perspective | PairCorr |
0.92 | PGGFX | American Funds Global | PairCorr |
1.0 | ANWPX | New Perspective | PairCorr |
0.7 | BALFX | American Balanced | PairCorr |
0.9 | BALCX | American Balanced | PairCorr |
0.92 | CWGIX | Capital World Growth | PairCorr |
0.92 | CWGFX | Capital World Growth | PairCorr |
0.92 | CWGCX | Capital World Growth | PairCorr |
0.9 | WSHFX | Washington Mutual | PairCorr |
0.92 | CWICX | Capital World Growth | PairCorr |
0.92 | CWIAX | Capital World Growth | PairCorr |
0.73 | FAATX | American Funds 2010 | PairCorr |
0.9 | FAETX | American Funds 2030 | PairCorr |
Related Correlations Analysis
0.84 | 0.82 | 0.84 | 0.86 | 0.85 | 0.82 | ELBIX | ||
0.84 | 0.96 | 0.96 | 0.95 | 0.85 | 0.96 | URIBX | ||
0.82 | 0.96 | 1.0 | 0.99 | 0.88 | 1.0 | FTRGX | ||
0.84 | 0.96 | 1.0 | 0.99 | 0.89 | 1.0 | CSBCX | ||
0.86 | 0.95 | 0.99 | 0.99 | 0.9 | 0.99 | PBNAX | ||
0.85 | 0.85 | 0.88 | 0.89 | 0.9 | 0.86 | PRVBX | ||
0.82 | 0.96 | 1.0 | 1.0 | 0.99 | 0.86 | BMOPX | ||
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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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
ELBIX | 0.33 | 0.03 | 0.43 | 1.29 | 0.28 | 0.64 | 1.73 | |||
URIBX | 0.24 | (0.01) | 0.46 | 0.05 | 0.24 | 0.55 | 1.45 | |||
FTRGX | 0.24 | 0.00 | 0.42 | (0.04) | 0.26 | 0.53 | 1.31 | |||
CSBCX | 0.23 | 0.01 | 0.47 | (0.04) | 0.25 | 0.49 | 1.42 | |||
PBNAX | 0.22 | 0.00 | 0.52 | (0.04) | 0.22 | 0.43 | 1.22 | |||
PRVBX | 0.10 | 0.01 | 1.30 | 0.07 | 0.00 | 0.23 | 0.53 | |||
BMOPX | 0.24 | 0.00 | 0.41 | (0.14) | 0.28 | 0.55 | 1.36 |