New World Correlations
| RNWAX Fund | USD 76.62 0.32 0.42% |
The current 90-days correlation between New World Fund and Simt Multi Asset Inflation is 0.07 (i.e., Significant 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 |
Moving together with New Mutual Fund
| 0.71 | VEMAX | Vanguard Emerging Markets | PairCorr |
| 0.86 | VEIEX | Vanguard Emerging Markets | PairCorr |
| 0.71 | VEMIX | Vanguard Emerging Markets | PairCorr |
| 0.86 | VEMRX | Vanguard Emerging Markets | PairCorr |
| 1.0 | FWWNX | American Funds New | PairCorr |
| 1.0 | FNFWX | American Funds New | PairCorr |
| 1.0 | NEWFX | New World Fund | PairCorr |
| 0.82 | NWFFX | New World Fund | PairCorr |
| 1.0 | NEWCX | New World Fund | PairCorr |
| 0.93 | ODVYX | Oppenheimer Developing | PairCorr |
| 0.64 | FSMMX | Fs Multi Strategy | PairCorr |
| 0.78 | BTMPX | Ishares Msci Eafe | PairCorr |
| 0.78 | BTMKX | Blackrock International | PairCorr |
| 0.78 | MDIIX | Blackrock Intern Index | PairCorr |
| 0.67 | PGLSX | Global Multi Strategy | PairCorr |
| 0.64 | DD | Dupont De Nemours | PairCorr |
Moving against New Mutual Fund
Related Correlations Analysis
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SLFYX | 0.19 | 0.06 | 0.55 | (5.03) | 0.00 | 0.50 | 1.02 | |||
| ANBIX | 0.16 | 0.03 | 0.41 | 1.08 | 0.00 | 0.38 | 0.98 | |||
| ABNAX | 0.16 | 0.03 | 0.45 | 1.01 | 0.00 | 0.38 | 0.97 | |||
| ABNYX | 0.16 | 0.03 | 0.43 | 1.62 | 0.00 | 0.38 | 0.86 | |||
| TIIHX | 0.15 | 0.03 | 0.41 | 1.36 | 0.00 | 0.37 | 1.04 | |||
| TILUX | 0.22 | 0.03 | 0.32 | 2.97 | 0.15 | 0.49 | 1.24 | |||
| ABNTX | 0.15 | 0.03 | 0.41 | 2.19 | 0.00 | 0.30 | 0.99 | |||
| NWXNX | 0.21 | 0.03 | 0.31 | 1.26 | 0.13 | 0.45 | 1.24 |