New Perspective Correlations
| ANWPX Fund | USD 62.47 0.06 0.1% |
The current 90-days correlation between New Perspective and Growth Fund Of is -0.25 (i.e., Very 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 0.69 (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.
New |
Moving together with New Mutual Fund
| 0.86 | AMFCX | American Mutual | PairCorr |
| 0.9 | AMFFX | American Mutual | PairCorr |
| 0.87 | RNGBX | New Economy Fund | PairCorr |
| 0.61 | FPTPX | American Funds Conse | PairCorr |
| 0.9 | RNPGX | New Perspective | PairCorr |
| 0.76 | ANFFX | New Economy Fund | PairCorr |
| 0.9 | NPFFX | New Perspective | PairCorr |
| 0.98 | FAITX | American Funds 2050 | PairCorr |
| 0.7 | GWPEX | American Funds Growth | PairCorr |
| 0.85 | CGFFX | Growth Fund | PairCorr |
| 0.7 | CGRGX | American Funds Growth | PairCorr |
| 0.8 | GGPCX | American Funds Global | PairCorr |
| 0.85 | FCJTX | American Funds 2055 | PairCorr |
| 0.77 | RRQPX | American Funds Retirement | PairCorr |
| 0.85 | FCKTX | American Funds 2060 | PairCorr |
| 0.85 | RAFTX | American Funds 2035 | PairCorr |
| 0.84 | RAFGX | Amcap Fund Class | PairCorr |
| 0.98 | RAHTX | American Funds 2045 | PairCorr |
| 0.98 | RAMHX | American Balanced | PairCorr |
| 0.77 | RSLBX | Smallcap World | PairCorr |
Related Correlations Analysis
| 0.98 | 0.97 | 0.91 | 0.73 | AGTHX | ||
| 0.98 | 0.98 | 0.89 | 0.78 | ANCFX | ||
| 0.97 | 0.98 | 0.87 | 0.84 | AIVSX | ||
| 0.91 | 0.89 | 0.87 | 0.74 | SMCWX | ||
| 0.73 | 0.78 | 0.84 | 0.74 | AWSHX | ||
| 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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AGTHX | 0.96 | (0.08) | 0.00 | 0.81 | 0.00 | 1.81 | 5.58 | |||
| ANCFX | 0.83 | (0.04) | 0.00 | 0.92 | 0.00 | 1.49 | 4.43 | |||
| AIVSX | 0.72 | (0.04) | 0.00 | 1.43 | 0.00 | 1.41 | 4.01 | |||
| SMCWX | 0.77 | (0.06) | 0.00 | (0.12) | 0.00 | 1.59 | 4.95 | |||
| AWSHX | 0.62 | 0.00 | 0.00 | (0.04) | 0.00 | 1.22 | 3.27 |