New Perspective Correlations

CNPAX Fund

USD 62.12 0.74 1.21%

The current 90-days correlation between New Perspective and Msift High Yield is -0.16 (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

Good diversification

The correlation between New Perspective Fund and DJI is -0.03 (i.e., Good 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 Trending Equities 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 nation.

Moving together with New Mutual Fund

0.9	AMFCX	American Mutual	Pair Corr
0.81	AMFFX	American Mutual	Pair Corr
0.61	RNCCX	American Funds Income	Pair Corr
0.82	RNGBX	New Economy Fund	Pair Corr
1.0	RNPGX	New Perspective	Pair Corr
0.88	ANFFX	New Economy Fund	Pair Corr
1.0	NPFFX	New Perspective	Pair Corr
0.9	FAITX	American Funds 2050	Pair Corr
0.83	GWPEX	American Funds Growth	Pair Corr
0.8	CGFFX	Growth Fund	Pair Corr
0.83	CGRGX	American Funds Growth	Pair Corr
0.64	RRCTX	American Funds 2020	Pair Corr
0.93	GGPCX	American Funds Global	Pair Corr
0.98	FCJTX	American Funds 2055	Pair Corr
0.68	RRQPX	American Funds Retirement	Pair Corr
0.97	FCKTX	American Funds 2060	Pair Corr
0.96	RAFTX	American Funds 2035	Pair Corr
0.78	RAFGX	Amcap Fund Class	Pair Corr
0.9	RAHTX	American Funds 2045	Pair Corr
0.91	RAMHX	American Balanced	Pair Corr
0.72	RSLBX	Smallcap World	Pair Corr

Related Correlations Analysis

	MRHYX	PBHAX	FYAIX	VRHYX	JCTFX	MWHIX	AGDZX
MRHYX		0.89	0.76	0.95	0.82	0.79	0.88	MRHYX
PBHAX	0.89		0.63	0.96	0.82	0.93	0.95	PBHAX
FYAIX	0.76	0.63		0.7	0.85	0.63	0.65	FYAIX
VRHYX	0.95	0.96	0.7		0.86	0.89	0.94	VRHYX
JCTFX	0.82	0.82	0.85	0.86		0.84	0.83	JCTFX
MWHIX	0.79	0.93	0.63	0.89	0.84		0.97	MWHIX
AGDZX	0.88	0.95	0.65	0.94	0.83	0.97		AGDZX
	MRHYX	PBHAX	FYAIX	VRHYX	JCTFX	MWHIX	AGDZX

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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
MRHYX	0.13	0.00	0.16	(0.03)	0.13	(0.17)	0.24	(0.24)	0.95
PBHAX	0.16	0.02	0.20	0.20	0.00	(0.29)	0.41	(0.21)	1.26
FYAIX	0.21	0.01	0.19	(0.93)	0.20	(0.22)	0.43	(0.40)	1.44
VRHYX	0.16	0.01	0.12	0.02	0.14	(0.32)	0.26	(0.26)	1.30
JCTFX	0.23	0.02	0.14	0.42	0.22	(0.31)	0.43	(0.44)	2.30
MWHIX	0.12	0.00	0.20	(0.04)	0.06	(0.21)	0.54	(0.22)	0.87
AGDZX	0.14	0.00	0.17	(0.09)	0.09	(0.24)	0.43	(0.28)	1.01

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New Perspective Correlations

New Perspective Correlation With Market

Good diversification

Moving together with New Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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