New Perspective Correlations

Mutual Funds . USA . 
Fund . New Perspective Fund
CNPEX Fund  USD 62.18  0.32  0.51%   
The current 90-days correlation between New Perspective and Franklin Moderate Allocation is 0.75 (i.e., Poor 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

Modest diversification

The correlation between New Perspective Fund and DJI is 0.21 (i.e., Modest 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 income.

Moving together with New Mutual Fund

  0.78AMECX Income FundPairCorr
  0.97RNEBX New World FundPairCorr
  0.82AMFCX American MutualPairCorr
  0.82AMFFX American MutualPairCorr
  0.85RNCCX American Funds IncomePairCorr
  0.84AMEFX Income FundPairCorr
  0.87RNGCX New Economy FundPairCorr
  0.79AMHIX American High IncomePairCorr
  0.79TEBCX Tax Exempt BondPairCorr
  0.76TECCX Tax Exempt FundPairCorr
  0.78TEAFX Tax Exempt BondPairCorr
  0.85FPTPX American Funds ConsePairCorr
  0.76TEFEX Tax Exempt FundPairCorr
  0.86RNNEX New Economy FundPairCorr
  0.92CDJAX American Funds CollegePairCorr
  0.9AMPFX Amcap Fund ClassPairCorr
  1.0RNPAX New PerspectivePairCorr
  1.0RNPHX New PerspectivePairCorr
  1.0RNPGX New PerspectivePairCorr
  0.82AMRMX American MutualPairCorr
  0.82AMRFX American MutualPairCorr
  0.62RNRPX American Funds RetirementPairCorr
  0.73AMUSX Us Government SecuritiesPairCorr
  0.72TEPCX American Funds TaxPairCorr
  0.98RNWFX New World FundPairCorr
  0.98RNWHX New World FundPairCorr
  0.98RNWGX New World FundPairCorr
  0.97RNWBX New World FundPairCorr
  0.97RNWAX New World FundPairCorr
  0.62CDWEX American Funds DevelopingPairCorr
  0.62CDWFX American Funds DevelopingPairCorr
  0.63CDWAX American Funds DevelopingPairCorr
  0.76ANBEX American Funds StrategicPairCorr
  0.74ANBFX American Funds StrategicPairCorr
  0.91ANCFX American Funds FundaPairCorr
  0.84ANFCX New Economy FundPairCorr
  1.0NPFCX New PerspectivePairCorr
  1.0NPFFX New PerspectivePairCorr

Related Correlations Analysis

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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.

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