New Alternatives Correlations

Mutual Funds . USA . 
Fund . New Alternatives Fund
NAEFX Fund  USD 73.91  0.59  0.80%   
The current 90-days correlation between New Alternatives and Pace Large Growth is 0.45 (i.e., Very weak diversification). The correlation of New Alternatives 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 Alternatives Correlation With Market

Weak diversification

The correlation between New Alternatives Fund and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Alternatives Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Alternatives 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

  1.0NALFX New AlternativesPairCorr
  0.99FSWFX American Funds SmallcapPairCorr
  0.99FSFWX American Funds SmallcapPairCorr
  0.99SCWCX American Fds SmallcapPairCorr
  0.99SCWFX Smallcap WorldPairCorr
  0.99SMCWX Smallcap WorldPairCorr
  0.99CSPFX Smallcap WorldPairCorr
  0.99CSPAX Smallcap WorldPairCorr
  0.99CSPEX Smallcap WorldPairCorr
  0.99RSLCX Smallcap WorldPairCorr
  0.99RLLGX Smallcap WorldPairCorr
  0.96CPAYX Columbia Pacific/asiaPairCorr
  0.98CASAX Columbia Pacific/asiaPairCorr
  0.98CASCX Columbia PacificasiaPairCorr
  0.98MSKLX Mid Cap GrowthPairCorr
  0.98CISGX Touchstone Sands CapitalPairCorr
  0.98MMCGX Mid Cap GrowthPairCorr
  0.82VALSX Value Line PremierPairCorr
  0.97INPSX Internet UltrasectorPairCorr
  0.98RRTIX T Rowe PricePairCorr
  0.98MNEAX Mainstay Conservative EtfPairCorr
  0.95VSEIX Jpmorgan Small CapPairCorr
  0.98VTRDX Voya Target RetirementPairCorr
  0.99FBITX American Funds 2050PairCorr
  0.86SMLPX Salient Mlp EnergyPairCorr
  0.98DCMDX Dunham Monthly DistrPairCorr
  0.99FHKFX Fidelity Series EmergingPairCorr
  0.98PLSPX Principal LifetimePairCorr
  0.98PPSAX Preferred SecuritiesPairCorr
  0.96FMIHX Large Cap FundPairCorr
  0.99AAARX Strategic Allocation:PairCorr
  0.93ECSIX Eaton Vance ShortPairCorr
  0.98IVNQX Invesco Nasdaq 100PairCorr
  0.98SLRYX Simt Large CapPairCorr
  0.96BDFFX Baron DiscoveryPairCorr
  0.98HRISX Harbor InternationalPairCorr
  0.96FUSIX Strategic AdvisersPairCorr
  0.63IMAAX Ivy Apollo MultiPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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