New Perspective Correlations

Mutual Funds . USA . 
Fund . New Perspective Fund
CNPEX Fund  USD 69.04  0.46  0.66%   
The current 90-days correlation between New Perspective and Columbia Moderate Growth is 0.88 (i.e., Very poor 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

Very poor diversification

The correlation between New Perspective Fund and DJI is 0.82 (i.e., Very 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 Trending Equities 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 consumer price index.

Moving together with New Mutual Fund

  0.94AMECX Income FundPairCorr
  0.98AMFCX American MutualPairCorr
  0.95AMFFX American MutualPairCorr
  0.99RNCCX American Funds IncomePairCorr
  0.87FPPPX American Funds PresePairCorr
  0.98RNGFX New Economy FundPairCorr
  0.98RNGHX New Economy FundPairCorr
  0.95RNGCX New Economy FundPairCorr
  0.99FPTPX American Funds ConsePairCorr
  0.96CDJAX American Funds CollegePairCorr
  0.99AMPCX Amcap Fund ClassPairCorr
  0.99AMPFX Amcap Fund ClassPairCorr
  1.0RNPAX New PerspectivePairCorr
  1.0RNPCX New PerspectivePairCorr
  0.91TEPFX American Funds TaxPairCorr
  0.98RNWEX New World FundPairCorr
  0.98RNWAX New World FundPairCorr
  0.98RNWCX New World FundPairCorr
  0.84ANBEX American Funds StrategicPairCorr
  0.94ANCFX American Funds FundaPairCorr
  1.0NPFFX New PerspectivePairCorr
  0.61TFEBX Tax Exempt BondPairCorr
  1.0PGGFX American Funds GlobalPairCorr
  1.0ANWPX New PerspectivePairCorr
  0.96CWGIX Capital World GrowthPairCorr
  0.99CWGFX Capital World GrowthPairCorr
  0.99CWGCX Capital World GrowthPairCorr
  0.71WSHFX Washington MutualPairCorr
  0.99CWICX Capital World GrowthPairCorr
  0.96CWIAX Capital World GrowthPairCorr
  0.94HIGFX American High IncomePairCorr
  0.71CWMAX Washington MutualPairCorr
  0.81CFAFX Bond FundPairCorr
  0.79CFAEX Bond FundPairCorr
  0.81CFACX Bond FundPairCorr
  0.81CFAAX Bond FundPairCorr
  0.74WBFFX Capital World BondPairCorr
  0.94FAHHX American Funds AmericanPairCorr
  0.97FAIFX American FundsPairCorr
  0.94CFNAX American Funds FundaPairCorr

Related Correlations Analysis


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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