New World Correlations
| NWFFX Fund | USD 79.74 0.33 0.41% |
The current 90-days correlation between New World Fund and Smallcap World Fund is 0.85 (i.e., Very poor diversification). The correlation of New World 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 World Correlation With Market
Very weak diversification
The correlation between New World Fund and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New World Fund and DJI in the same portfolio, assuming nothing else is changed.
New |
Moving together with New Mutual Fund
| 0.73 | AMECX | Income Fund | PairCorr |
| 1.0 | RNEBX | New World Fund | PairCorr |
| 0.76 | AMFCX | American Mutual | PairCorr |
| 0.77 | AMFFX | American Mutual | PairCorr |
| 0.82 | RNCCX | American Funds Income | PairCorr |
| 0.72 | AMEFX | Income Fund | PairCorr |
| 0.81 | FPTPX | American Funds Conse | PairCorr |
| 0.62 | CDJAX | American Funds College | PairCorr |
| 0.75 | RNPBX | New Perspective | PairCorr |
| 0.75 | RNPAX | New Perspective | PairCorr |
| 0.76 | RNPFX | New Perspective | PairCorr |
| 0.75 | AMRMX | American Mutual | PairCorr |
| 0.75 | AMRFX | American Mutual | PairCorr |
| 0.7 | RNRPX | American Funds Retirement | PairCorr |
| 1.0 | RNWEX | New World Fund | PairCorr |
| 1.0 | RNWGX | New World Fund | PairCorr |
| 1.0 | RNWCX | New World Fund | PairCorr |
| 0.79 | CDWFX | American Funds Developing | PairCorr |
| 0.8 | CDWCX | American Funds Developing | PairCorr |
| 0.75 | CDWAX | American Funds Developing | PairCorr |
| 0.75 | NPFCX | New Perspective | PairCorr |
| 0.76 | NPFFX | New Perspective | PairCorr |
| 0.61 | CWBFX | Capital World Bond | PairCorr |
| 0.63 | DITFX | American Funds 2050 | PairCorr |
Related Correlations Analysis
| 0.87 | 0.03 | 0.63 | 0.78 | SCWFX | ||
| 0.87 | 0.33 | 0.89 | 0.9 | AICFX | ||
| 0.03 | 0.33 | 0.64 | 0.57 | AEGFX | ||
| 0.63 | 0.89 | 0.64 | 0.9 | CWGFX | ||
| 0.78 | 0.9 | 0.57 | 0.9 | NPFFX | ||
| 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 World 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 World'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SCWFX | 0.79 | (0.08) | 0.00 | (0.17) | 0.00 | 1.59 | 4.96 | |||
| AICFX | 0.89 | (0.08) | 0.00 | (0.14) | 0.00 | 1.31 | 8.52 | |||
| AEGFX | 0.76 | (0.03) | 0.00 | 0.11 | 0.00 | 1.27 | 6.21 | |||
| CWGFX | 0.81 | (0.03) | 0.00 | (0.10) | 0.00 | 1.15 | 6.83 | |||
| NPFFX | 0.86 | (0.06) | 0.00 | (0.17) | 0.00 | 1.48 | 5.52 |