New Perspective Correlations

Mutual Funds . USA . 
Fund . New Perspective Fund
NPFCX Fund  USD 69.10  0.31  0.45%   
The current 90-days correlation between New Perspective and Franklin Real Estate is 0.37 (i.e., Weak 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 0.81 (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 Correlation Analysis 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 private.

Moving together with New Mutual Fund

  0.77AMECX Income FundPairCorr
  0.91RNEBX New World FundPairCorr
  0.87AMFCX American MutualPairCorr
  0.87AMFFX American MutualPairCorr
  0.88RNCCX American Funds IncomePairCorr
  0.86RNGGX New Economy FundPairCorr
  0.86RNGFX New Economy FundPairCorr
  0.67AMHIX American High IncomePairCorr
  0.69TECCX Tax Exempt FundPairCorr
  0.87FPTPX American Funds ConsePairCorr
  0.93AMPFX Amcap Fund ClassPairCorr
  1.0RNPAX New PerspectivePairCorr
  1.0RNPGX New PerspectivePairCorr
  0.87AMRFX American MutualPairCorr
  0.62TEPFX American Funds TaxPairCorr
  1.0NPFFX New PerspectivePairCorr
  1.0ANWPX New PerspectivePairCorr
  0.87BALFX American BalancedPairCorr
  0.88BALCX American BalancedPairCorr
  0.95CWGIX Capital World GrowthPairCorr
  0.95CWGFX Capital World GrowthPairCorr
  0.95CWGCX Capital World GrowthPairCorr
  0.63TXEFX American Funds TaxPairCorr
  0.95CEUCX Europacific GrowthPairCorr
  0.83CEUAX Europacific GrowthPairCorr
  0.87WSHFX Washington MutualPairCorr
  0.87WSHCX Washington MutualPairCorr
  0.96CWICX Capital World GrowthPairCorr
  0.95CWIAX Capital World GrowthPairCorr
  0.94CEUFX Europacific GrowthPairCorr
  0.94CEUEX Europacific GrowthPairCorr
  0.84CWMCX Washington MutualPairCorr
  0.84CWMAX Washington MutualPairCorr
  0.96FAFGX American FundsPairCorr
  0.7FAHHX American Funds AmericanPairCorr
  0.97FAITX American Funds 2050PairCorr
  0.97FAJTX American Funds 2055PairCorr

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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