New Perspective Fund Market Value
| CNPCX Fund | USD 61.47 0.52 0.85% |
| Symbol | New |
New Perspective 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to New Perspective's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of New Perspective.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in New Perspective on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding New Perspective Fund or generate 0.0% return on investment in New Perspective over 540 days. New Perspective is related to or competes with Prudential Government, Aig Government, Lord Abbett, Dunham Corporate/govern, Blackrock, and Us Government. The fund seeks to take advantage of investment opportunities generated by changes in international trade patterns and ec... More
New Perspective Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure New Perspective's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess New Perspective Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8656 | |||
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 3.67 | |||
| Value At Risk | (1.43) | |||
| Potential Upside | 1.2 |
New Perspective Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New Perspective's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New Perspective's standard deviation. In reality, there are many statistical measures that can use New Perspective historical prices to predict the future New Perspective's volatility.| Risk Adjusted Performance | 0.0308 | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.09) | |||
| Sortino Ratio | (0.11) | |||
| Treynor Ratio | 0.0288 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of New Perspective's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
New Perspective Backtested Returns
At this stage we consider New Mutual Fund to be very steady. New Perspective has Sharpe Ratio of 0.0879, which conveys that the entity had a 0.0879% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for New Perspective, which you can use to evaluate the volatility of the fund. Please verify New Perspective's Downside Deviation of 0.8656, risk adjusted performance of 0.0308, and Mean Deviation of 0.5653 to check out if the risk estimate we provide is consistent with the expected return of 0.0628%. The fund secures a Beta (Market Risk) of 0.72, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, New Perspective's returns are expected to increase less than the market. However, during the bear market, the loss of holding New Perspective is expected to be smaller as well.
Auto-correlation | 0.26 |
Poor predictability
New Perspective Fund has poor predictability. Overlapping area represents the amount of predictability between New Perspective time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of New Perspective price movement. The serial correlation of 0.26 indicates that nearly 26.0% of current New Perspective price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.26 | |
| Spearman Rank Test | 0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 4.38 |
New Perspective lagged returns against current returns
Autocorrelation, which is New Perspective mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting New Perspective's mutual fund expected returns. We can calculate the autocorrelation of New Perspective returns to help us make a trade decision. For example, suppose you find that New Perspective has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
New Perspective regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If New Perspective mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New Perspective mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New Perspective mutual fund over time.
Current vs Lagged Prices |
| Timeline |
New Perspective Lagged Returns
When evaluating New Perspective's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New Perspective mutual fund have on its future price. New Perspective autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, New Perspective autocorrelation shows the relationship between New Perspective mutual fund current value and its past values and can show if there is a momentum factor associated with investing in New Perspective Fund.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in New Mutual Fund
New Perspective financial ratios help investors to determine whether New Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in New with respect to the benefits of owning New Perspective security.
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