New Perspective Correlations

Mutual Funds . USA . 
Fund . New Perspective Fund
RNPEX Fund  USD 65.06  0.55  0.85%   
The current 90-days correlation between New Perspective and Mirova Global Green is -0.02 (i.e., Good 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

Poor diversification

The correlation between New Perspective Fund and DJI is 0.72 (i.e., Poor 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 Your Equity Center 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 income.

Moving together with New Mutual Fund

  0.94AMECX Income FundPairCorr
  0.62RNEBX New World FundPairCorr
  0.84AMFCX American MutualPairCorr
  0.84AMFFX American MutualPairCorr
  0.88RNCCX American Funds IncomePairCorr
  0.94AMEFX Income FundPairCorr
  0.92RNGAX New Economy FundPairCorr
  0.84FPTPX American Funds ConsePairCorr
  1.0RNPGX New PerspectivePairCorr
  1.0RNPFX New PerspectivePairCorr
  0.84AMRFX American MutualPairCorr
  0.67RNWGX New World FundPairCorr
  0.69CDWAX American Funds DevelopingPairCorr
  0.91ANCFX American Funds FundaPairCorr
  0.92ANFCX New Economy FundPairCorr
  0.92ANFFX New Economy FundPairCorr
  1.0NPFFX New PerspectivePairCorr
  0.91PGGFX American Funds GlobalPairCorr
  1.0ANWPX New PerspectivePairCorr
  0.96BALFX American BalancedPairCorr
  0.96BALCX American BalancedPairCorr
  0.98CWGIX Capital World GrowthPairCorr
  0.98CWGFX Capital World GrowthPairCorr
  0.98CWGCX Capital World GrowthPairCorr
  0.93WSHFX Washington MutualPairCorr
  0.89CWIFX Capital World GrowthPairCorr
  0.98CWICX Capital World GrowthPairCorr

Moving against New Mutual Fund

  0.44CFAAX Bond FundPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
KGLCX
+ 0.85
BXFIX
RGPAX
+ 0.78
KGLCX
RGPAX
+ 0.77
BXFIX
CABIX
+ 0.7
MGGNX
RGPAX
+ 0.44
CABIX
EQTYX
+ 0.4
CABIX
  
High negative correlations   
EQTYX
- 0.51
BXFIX
KGLCX
- 0.47
EQTYX
RGPAX
- 0.31
EQTYX
KGLCX
- 0.07
CABIX
KGLCX
- 0.05
MGGNX

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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