New Perspective Correlations

Mutual Funds . USA . 
Fund . New Perspective Fund
NPFFX Fund  USD 66.40  0.39  0.58%   
The current 90-days correlation between New Perspective and New World Fund is 0.96 (i.e., Almost no diversification). The correlation of New Perspective 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 Perspective Correlation With Market

Almost no diversification

The correlation between New Perspective Fund and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Perspective 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 Perspective 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

  0.98AMECX Income FundPairCorr
  1.0RNEBX New World FundPairCorr
  0.95AMFCX American MutualPairCorr
  0.95AMFFX American MutualPairCorr
  0.97RNCCX American Funds IncomePairCorr
  0.99RNGGX New Economy FundPairCorr
  0.99RNGFX New Economy FundPairCorr
  0.99RNGHX New Economy FundPairCorr
  0.99RNGBX New Economy FundPairCorr
  0.99RNGAX New Economy FundPairCorr
  0.98FPTPX American Funds ConsePairCorr
  1.0CDJAX American Funds CollegePairCorr
  0.95AMPCX Amcap Fund ClassPairCorr
  0.99AMPFX Amcap Fund ClassPairCorr
  1.0RNPGX New PerspectivePairCorr
  0.95AMRMX American MutualPairCorr
  0.96AMRFX American MutualPairCorr
  0.7TEPAX American Funds TaxPairCorr
  0.69TEPFX American Funds TaxPairCorr
  1.0RNWGX New World FundPairCorr
  1.0RNWBX New World FundPairCorr
  0.98CDWFX American Funds DevelopingPairCorr
  0.99ANEFX New Economy FundPairCorr
  0.99ANFFX New Economy FundPairCorr
  1.0PGGFX American Funds GlobalPairCorr
  0.98BALFX American BalancedPairCorr
  0.98BALCX American BalancedPairCorr
  1.0CWGIX Capital World GrowthPairCorr
  1.0CWGFX Capital World GrowthPairCorr
  1.0CWGCX Capital World GrowthPairCorr
  0.99CEUCX Europacific GrowthPairCorr
  0.99CEUAX Europacific GrowthPairCorr
  0.92WSHFX Washington MutualPairCorr
  1.0CWIFX Capital World GrowthPairCorr
  1.0CWICX Capital World GrowthPairCorr

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 Perspective 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 Perspective'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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