New Economy Correlations

Mutual Funds . USA . 
Fund . New Economy Fund
ANEFX Fund  USD 68.47  0.10  0.15%   
The current 90-days correlation between New Economy Fund and Washington Mutual Investors is 0.9 (i.e., Almost no diversification). The correlation of New Economy 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 Economy Correlation With Market

Very poor diversification

The correlation between New Economy Fund and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Economy Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in New Economy 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 census.

Moving together with New Mutual Fund

  0.97AMECX Income FundPairCorr
  0.98RNEBX New World FundPairCorr
  0.98AMFCX American MutualPairCorr
  0.98AMFFX American MutualPairCorr
  0.99RNCCX American Funds IncomePairCorr
  0.73FPPPX American Funds PresePairCorr
  0.98AMEFX Income FundPairCorr
  0.99RNGGX New Economy FundPairCorr
  1.0RNGFX New Economy FundPairCorr
  0.99RNGHX New Economy FundPairCorr
  1.0RNGBX New Economy FundPairCorr
  0.99RNGAX New Economy FundPairCorr
  1.0RNGEX New Economy FundPairCorr
  0.99RNGCX New Economy FundPairCorr
  0.8AMHIX American High IncomePairCorr
  0.62TEBCX Tax Exempt BondPairCorr
  0.71TEAFX Tax Exempt BondPairCorr
  0.98FPTPX American Funds ConsePairCorr
  0.99CDJAX American Funds CollegePairCorr
  1.0AMPCX Amcap Fund ClassPairCorr
  1.0AMPFX Amcap Fund ClassPairCorr
  0.99RNPBX New PerspectivePairCorr
  0.99RNPAX New PerspectivePairCorr
  0.99RNPHX New PerspectivePairCorr
  0.99RNPGX New PerspectivePairCorr
  0.99RNPCX New PerspectivePairCorr
  0.99RNPFX New PerspectivePairCorr
  0.99RNPEX New PerspectivePairCorr
  0.98AMRMX American MutualPairCorr
  0.99AMRFX American MutualPairCorr
  0.97TEPCX American Funds TaxPairCorr
  0.98TEPFX American Funds TaxPairCorr
  0.99RNWEX New World FundPairCorr
  0.99RNWHX New World FundPairCorr
  0.99RNWGX New World FundPairCorr
  0.99RNWBX New World FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between New Mutual Fund performing well and New Economy 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 Economy'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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