New Alternatives Correlations

Mutual Funds . USA . 
Fund . New Alternatives Fund
NALFX Fund  USD 74.33  0.60  0.81%   
The current 90-days correlation between New Alternatives and Guinness Atkinson Alternative is 0.7 (i.e., Poor 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

Average diversification

The correlation between New Alternatives Fund and DJI is 0.1 (i.e., Average 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

  0.61NAEFX New AlternativesPairCorr
  0.85FSWFX American Funds SmallcapPairCorr
  0.98FSFWX American Funds SmallcapPairCorr
  0.98SCWCX American Fds SmallcapPairCorr
  0.61SCWFX Smallcap WorldPairCorr
  0.98SMCWX Smallcap WorldPairCorr
  0.98CSPFX Smallcap WorldPairCorr
  0.61CSPAX Smallcap WorldPairCorr
  0.98CSPEX Smallcap WorldPairCorr
  0.98RSLCX Smallcap WorldPairCorr
  0.98RLLGX Smallcap WorldPairCorr
  0.83CPAYX Columbia Pacific/asiaPairCorr
  0.97CASAX Columbia Pacific/asiaPairCorr
  0.81CCCZX Center St BrookfieldPairCorr
  0.97CASCX Columbia PacificasiaPairCorr
  0.82MSKLX Mid Cap GrowthPairCorr
  0.82CISGX Touchstone Sands CapitalPairCorr
  0.97MMCGX Mid Cap GrowthPairCorr
  0.73VALSX Value Line PremierPairCorr
  0.82RRTIX T Rowe PricePairCorr
  0.98MNEAX Mainstay Conservative EtfPairCorr
  0.93VSEIX Jpmorgan Small CapPairCorr
  0.98VTRDX Voya Target RetirementPairCorr
  0.99FBITX American Funds 2050PairCorr
  0.98PLSPX Principal LifetimePairCorr
  0.98PPSAX Preferred SecuritiesPairCorr
  0.8FMIHX Large Cap FundPairCorr
  0.98AAARX Strategic Allocation:PairCorr
  0.82ECSIX Eaton Vance ShortPairCorr
  0.98IVNQX Invesco Nasdaq 100PairCorr
  0.62SLRYX Simt Large CapPairCorr
  0.95BDFFX Baron DiscoveryPairCorr
  0.62HRISX Harbor InternationalPairCorr

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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