New Economy Correlations

RNGGX Fund

USD 79.90 0.29 0.36%

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

Poor diversification

The correlation between New Economy Fund and DJI is 0.68 (i.e., Poor 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 Your Equity Center 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 census.

Moving together with New Mutual Fund

0.76	RNCCX	American Funds Income	Pair Corr
1.0	RNGEX	New Economy Fund	Pair Corr
1.0	RNGCX	New Economy Fund	Pair Corr
0.82	TEAFX	Tax Exempt Bond	Pair Corr
0.62	FPTPX	American Funds Conse	Pair Corr
1.0	RNNEX	New Economy Fund	Pair Corr
0.76	RNPAX	New Perspective	Pair Corr
0.79	RNPGX	New Perspective	Pair Corr
0.77	RNPCX	New Perspective	Pair Corr
0.76	RNWHX	New World Fund	Pair Corr
0.95	RNWGX	New World Fund	Pair Corr
0.82	TFEBX	Tax Exempt Bond	Pair Corr
0.86	CEUAX	Europacific Growth	Pair Corr
0.94	CWIAX	Capital World Growth	Pair Corr
0.87	CEUFX	Europacific Growth	Pair Corr
0.68	CWMAX	Washington Mutual	Pair Corr
0.61	GVTFX	Us Government Securities	Pair Corr
0.68	HIMFX	American High Income	Pair Corr
0.64	FAFGX	American Funds	Pair Corr
0.67	RPPGX	American Funds Prese	Pair Corr
0.94	CFNAX	American Funds Funda	Pair Corr
0.89	FAXTX	American Funds 2065	Pair Corr
0.62	CGFEX	Growth Fund	Pair Corr
0.64	CGFFX	Growth Fund	Pair Corr
0.63	CGFAX	Growth Fund	Pair Corr
0.85	CGNGX	American Funds Growth	Pair Corr
0.66	FBOFX	American Funds	Pair Corr
0.62	CGTAX	Us Government Securities	Pair Corr
0.68	RRPPX	American Funds Retirement	Pair Corr
0.9	FCJTX	American Funds 2055	Pair Corr
0.86	RRQPX	American Funds Retirement	Pair Corr
0.8	RROPX	American Funds Retirement	Pair Corr
0.9	FCKTX	American Funds 2060	Pair Corr

Moving against New Mutual Fund

0.64

FAX

Aberdeen Asia Pacific

Pair Corr

Related Correlations Analysis

	FLKYPX	RPBAX	REMVX	FKHEMX	MFTFX	RETSX	FFCGX	IAADX
FLKYPX		0.84	0.64	0.85	0.77	0.74	0.92	0.36	FLKYPX
RPBAX	0.84		0.82	0.96	0.74	0.85	0.95	0.72	RPBAX
REMVX	0.64	0.82		0.85	0.68	0.75	0.71	0.85	REMVX
FKHEMX	0.85	0.96	0.85		0.73	0.83	0.93	0.72	FKHEMX
MFTFX	0.77	0.74	0.68	0.73		0.55	0.67	0.43	MFTFX
RETSX	0.74	0.85	0.75	0.83	0.55		0.81	0.58	RETSX
FFCGX	0.92	0.95	0.71	0.93	0.67	0.81		0.56	FFCGX
IAADX	0.36	0.72	0.85	0.72	0.43	0.58	0.56		IAADX
	FLKYPX	RPBAX	REMVX	FKHEMX	MFTFX	RETSX	FFCGX	IAADX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FLKYPX	0.79	0.08	0.01	0.74	1.04	(0.79)	1.61	(1.76)	4.68
RPBAX	0.34	0.04	(0.04)	0.55	0.45	(0.34)	0.79	(0.74)	2.08
REMVX	0.63	0.13	0.11	0.26	0.70	(0.72)	1.38	(0.83)	4.64
FKHEMX	0.59	0.08	0.02	1.03	0.75	(0.62)	1.40	(1.21)	3.71
MFTFX	1.09	0.16	0.07	0.91	1.13	(1.27)	2.80	(1.78)	6.84
RETSX	0.52	(0.01)	(0.01)	0.06	0.85	(0.47)	1.14	(1.18)	3.55
FFCGX	0.52	0.06	0.00	0.75	0.82	(0.49)	1.02	(1.31)	3.57
IAADX	0.18	0.05	(0.09)	(1.92)	0.00	(0.26)	0.42	(0.21)	1.25

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