New World Correlations

Mutual Funds . USA . 
Fund . New World Fund
NEWCX Fund  USD 85.01  0.01  0.01%   
The current 90-days correlation between New World Fund and Tiaa Cref Lifestyle Conservative is 0.93 (i.e., Almost no diversification). The correlation of New World 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 World Correlation With Market

Good diversification

The correlation between New World Fund and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New World 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 World 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

  0.99AMECX Income FundPairCorr
  0.98AMFCX American MutualPairCorr
  0.98AMFFX American MutualPairCorr
  0.97RNCCX American Funds IncomePairCorr
  0.71FPPPX American Funds PresePairCorr
  0.99RNGHX New Economy FundPairCorr
  0.99RNGAX New Economy FundPairCorr
  0.96RNGEX New Economy FundPairCorr
  0.64TEAFX Tax Exempt BondPairCorr
  0.99FPTPX American Funds ConsePairCorr
  0.99CDJAX American Funds CollegePairCorr
  0.96AMPCX Amcap Fund ClassPairCorr
  0.96AMPFX Amcap Fund ClassPairCorr
  0.97RNPBX New PerspectivePairCorr
  0.97RNPAX New PerspectivePairCorr
  0.97RNPGX New PerspectivePairCorr
  0.97RNPFX New PerspectivePairCorr
  0.98AMRMX American MutualPairCorr
  0.96AMRFX American MutualPairCorr
  0.97RNRPX American Funds RetirementPairCorr
  0.84TEPAX American Funds TaxPairCorr
  0.84TEPFX American Funds TaxPairCorr
  0.98RNWGX New World FundPairCorr
  0.98CDWFX American Funds DevelopingPairCorr
  0.99ANCFX American Funds FundaPairCorr
  0.99ANFCX New Economy FundPairCorr
  0.96ANEFX New Economy FundPairCorr
  0.96ANFFX New Economy FundPairCorr
  0.71CEAMX Short Term BondPairCorr
  0.97NPFCX New PerspectivePairCorr
  0.97NPFFX New PerspectivePairCorr
  0.64TFEBX Tax Exempt BondPairCorr
  0.77SBFFX Short Term BondPairCorr

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 World 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 World'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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