New Economy Correlations

Mutual Funds . USA . 
Fund . New Economy Fund
ANFCX Fund  USD 55.30  0.08  0.14%   
The current 90-days correlation between New Economy Fund and Washington Mutual Investors is -0.05 (i.e., Good 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

Good diversification

The correlation between New Economy Fund and DJI is -0.07 (i.e., Good 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 main economic indicators.

Moving together with New Mutual Fund

  0.98AMECX Income FundPairCorr
  0.99RNEBX New World FundPairCorr
  0.99AMFCX American MutualPairCorr
  0.99AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.73FPPPX American Funds PresePairCorr
  0.99AMEFX Income FundPairCorr
  1.0RNGGX New Economy FundPairCorr
  0.99RNGFX New Economy FundPairCorr
  1.0RNGHX New Economy FundPairCorr
  1.0RNGBX New Economy FundPairCorr
  1.0RNGAX New Economy FundPairCorr
  0.99RNGEX New Economy FundPairCorr
  1.0RNGCX New Economy FundPairCorr
  0.76AMHIX American High IncomePairCorr
  0.62TEBCX Tax Exempt BondPairCorr
  0.67TEAFX Tax Exempt BondPairCorr
  0.99FPTPX American Funds ConsePairCorr
  1.0CDJAX American Funds CollegePairCorr
  0.99AMPCX Amcap Fund ClassPairCorr
  0.99AMPFX Amcap Fund ClassPairCorr
  0.98RNPBX New PerspectivePairCorr
  0.98RNPAX New PerspectivePairCorr
  0.98RNPHX New PerspectivePairCorr
  0.98RNPGX New PerspectivePairCorr
  0.99RNPCX New PerspectivePairCorr
  0.98RNPFX New PerspectivePairCorr
  0.98RNPEX New PerspectivePairCorr
  0.99AMRMX American MutualPairCorr
  0.98AMRFX American MutualPairCorr
  0.97TEPCX American Funds TaxPairCorr
  0.98TEPFX American Funds TaxPairCorr
  0.98RNWEX New World FundPairCorr
  0.99RNWHX New World FundPairCorr
  0.98RNWGX New World FundPairCorr
  0.98RNWBX 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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