New Economy Correlations

Mutual Funds USA . 
Fund . New Economy Fund
RNNEX Fund  USD 61.28  0.20  0.33%   
The current 90-days correlation between New Economy Fund and New Perspective Fund is 0.98 (i.e., Almost no diversification). 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

Almost no diversification

The correlation between New Economy 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 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 income.

Moving together with New Mutual Fund

  0.96AMECX Income FundPairCorr
  0.98RNEBX New World FundPairCorr
  0.96AMFCX American MutualPairCorr
  0.97AMFFX American MutualPairCorr
  0.97RNCCX American Funds IncomePairCorr
  1.0RNGGX New Economy FundPairCorr
  1.0RNGFX New Economy FundPairCorr
  1.0RNGHX New Economy FundPairCorr
  1.0RNGBX New Economy FundPairCorr
  1.0RNGAX New Economy FundPairCorr
  0.97FPTPX American Funds ConsePairCorr
  1.0CDJAX American Funds CollegePairCorr
  0.93AMPCX Amcap Fund ClassPairCorr
  1.0AMPFX Amcap Fund ClassPairCorr
  0.99RNPGX New PerspectivePairCorr
  0.97AMRMX American MutualPairCorr
  0.97AMRFX American MutualPairCorr
  0.72TEPAX American Funds TaxPairCorr
  0.72TEPFX American Funds TaxPairCorr
  0.98RNWGX New World FundPairCorr
  0.98RNWBX New World FundPairCorr
  0.97CDWFX American Funds DevelopingPairCorr
  1.0ANEFX New Economy FundPairCorr
  1.0ANFFX New Economy FundPairCorr
  0.99NPFFX New PerspectivePairCorr
  0.99PGGFX American Funds GlobalPairCorr
  0.99BALFX American BalancedPairCorr
  0.99BALCX American BalancedPairCorr
  0.99CWGIX Capital World GrowthPairCorr
  0.99CWGFX Capital World GrowthPairCorr
  0.99CWGCX Capital World GrowthPairCorr
  0.97CEUCX Europacific GrowthPairCorr
  0.97CEUAX Europacific GrowthPairCorr
  0.9WSHFX Washington MutualPairCorr
  0.99CWIFX Capital World GrowthPairCorr
  0.99CWICX 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 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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY