| RNGCX Fund | | | USD 63.76 0.29 0.46% |
New Economy mean-deviation technical analysis lookup allows you to check this and other technical indicators for New Economy Fund or any other equities. You can select from a set of available technical indicators by clicking on the link to the right. Please note, not all equities are covered by this module due to inconsistencies in global equity categorizations and data normalization technicques. Please check also
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New Economy Fund has current Mean Deviation of 0.6817. The mean deviation of the equity instrument is the first measure of the distances between each value of security historical prices and the mean. It gives us an idea of how spread out from the center the distribution of returns.
Mean Deviation | = | SUM(RET DEV)N |
| = | 0.6817 | |
| SUM | = | Summation notation |
| RET DEV | = | Sum of return deviations of New Economy |
| N | = | Number of calculation points for selected time horizon |
New Economy Mean Deviation Peers Comparison
New Mean Deviation Relative To Other Indicators
New Economy Fund is rated
second largest fund in mean deviation among similar funds. It is currently under evaluation in maximum drawdown among similar funds reporting about
5.98 of Maximum Drawdown per Mean Deviation. The ratio of Maximum Drawdown to Mean Deviation for New Economy Fund is roughly
5.98 Mean Deviation is the average of the absolute values of the differences between price distribution numbers and their mean. Mean deviation of equity instrument with a lot of historical data is a biased estimator because the time horizon used in calculation will always be much smaller than the entire price history of the equity. The mean deviation is typically used as a measure of dispersion for small investment horizon, otherwise standard deviation is a better measure of dispersion.
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