New Economy Correlations

Mutual Funds . USA . 
Fund . New Economy Fund
RNGBX Fund  USD 51.33  0.09  0.18%   
The current 90-days correlation between New Economy Fund and Oklahoma College Savings is 0.72 (i.e., Poor diversification). The correlation of New Economy 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 Economy Correlation With Market

Poor diversification

The correlation between New Economy Fund and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Economy Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in New Economy 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 bureau of labor statistics.

Moving together with New Mutual Fund

  0.65AMFCX American MutualPairCorr
  0.65AMFFX American MutualPairCorr
  0.85RNPGX New PerspectivePairCorr
  1.0ANFFX New Economy FundPairCorr
  0.85NPFFX New PerspectivePairCorr
  0.87FAITX American Funds 2050PairCorr
  0.86GWPEX American Funds GrowthPairCorr
  0.96CGFFX Growth FundPairCorr
  0.86CGRGX American Funds GrowthPairCorr
  0.87GGPCX American Funds GlobalPairCorr
  0.88FCJTX American Funds 2055PairCorr
  0.89FCKTX American Funds 2060PairCorr
  0.79RAFTX American Funds 2035PairCorr
  0.98RAFGX Amcap Fund ClassPairCorr
  0.87RAHTX American Funds 2045PairCorr
  0.84RAMHX American BalancedPairCorr
  0.9RSLBX Smallcap WorldPairCorr

Moving against New Mutual Fund

  0.52CFAMX Short Term BondPairCorr
  0.51FPPPX American Funds PresePairCorr
  0.47AMUSX Us Government SecuritiesPairCorr
  0.4ANBGX American Funds StrategicPairCorr
  0.51RAMFX Short Term BondPairCorr
  0.46CGTCX Us Government SecuritiesPairCorr
  0.46CGTAX Us Government SecuritiesPairCorr
  0.41FBOFX American FundsPairCorr
  0.49IBFCX Intermediate BondPairCorr
  0.4RBFCX Bond FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between New Mutual Fund performing well and New Economy 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 Economy'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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