New World Correlations

RNWCX Fund

USD 79.17 0.44 0.55%

The current 90-days correlation between New World Fund and City National Rochdale is -0.14 (i.e., Good 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.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in New World 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

0.79	AMECX	Income Fund	Pair Corr
0.83	RNEBX	New World Fund	Pair Corr
0.62	AMFFX	American Mutual	Pair Corr
0.74	RNCCX	American Funds Income	Pair Corr
0.79	AMEFX	Income Fund	Pair Corr
0.73	FPTPX	American Funds Conse	Pair Corr
0.68	AMRMX	American Mutual	Pair Corr
0.68	AMRFX	American Mutual	Pair Corr
0.89	RNRPX	American Funds Retirement	Pair Corr
0.61	TEPAX	American Funds Tax	Pair Corr
1.0	RNWEX	New World Fund	Pair Corr
0.84	RNWGX	New World Fund	Pair Corr
0.81	CDWFX	American Funds Developing	Pair Corr
0.81	CDWCX	American Funds Developing	Pair Corr
0.81	CDWAX	American Funds Developing	Pair Corr
0.65	CWBFX	Capital World Bond	Pair Corr

Related Correlations Analysis

	RIMOX	ARTFX	MRHYX	WAYCX	PAXHX
RIMOX		0.91	0.75	0.94	0.89	RIMOX
ARTFX	0.91		0.79	0.94	0.98	ARTFX
MRHYX	0.75	0.79		0.82	0.8	MRHYX
WAYCX	0.94	0.94	0.82		0.94	WAYCX
PAXHX	0.89	0.98	0.8	0.94		PAXHX
	RIMOX	ARTFX	MRHYX	WAYCX	PAXHX

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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
RIMOX	0.06	0.02	0.75	0.42	0.00	(0.08)	0.15	(0.10)	0.36
ARTFX	0.13	(0.01)	0.35	0.12	0.12	(0.20)	0.44	(0.22)	0.89
MRHYX	0.12	0.02	0.40	0.11	0.00	(0.17)	0.24	(0.24)	0.95
WAYCX	0.17	0.01	0.30	0.03	0.16	(0.23)	0.43	(0.29)	1.03
PAXHX	0.16	(0.01)	0.24	0.17	0.18	(0.23)	0.50	(0.33)	1.17

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New World Correlations

Moving together with New Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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