New Perspective Correlations

Mutual Funds . USA . 
Fund . New Perspective Fund
NPFCX Fund  USD 58.83  0.69  1.19%   
The current 90-days correlation between New Perspective and Thrivent Natural Resources is -0.1 (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 0.69 (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.
  
Check out Correlation Analysis 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 main economic indicators.

Moving together with New Mutual Fund

  0.85AMFCX American MutualPairCorr
  0.89AMFFX American MutualPairCorr
  0.88RNGBX New Economy FundPairCorr
  0.9RNPGX New PerspectivePairCorr
  0.77ANFFX New Economy FundPairCorr
  0.9NPFFX New PerspectivePairCorr
  0.98FAITX American Funds 2050PairCorr
  0.71GWPEX American Funds GrowthPairCorr
  0.86CGFFX Growth FundPairCorr
  0.71CGRGX American Funds GrowthPairCorr
  0.8GGPCX American Funds GlobalPairCorr
  0.85FCJTX American Funds 2055PairCorr
  0.76RRQPX American Funds RetirementPairCorr
  0.85FCKTX American Funds 2060PairCorr
  0.84RAFTX American Funds 2035PairCorr
  0.85RAFGX Amcap Fund ClassPairCorr
  0.98RAHTX American Funds 2045PairCorr
  0.98RAMHX American BalancedPairCorr
  0.78RSLBX Smallcap WorldPairCorr

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   
TMCLX
+ 0.99
GLEAX
XEMOX
+ 0.97
TMCLX
HNRGX
+ 0.96
FIKAX
XEMOX
+ 0.95
GLEAX
SEPIX
+ 0.95
HNRGX
SEPIX
+ 0.88
FIKAX
  
High negative correlations   
FIKAX
- 0.1
TREIX

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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