New Economy Competition

Mutual Funds . USA . 
Fund . New Economy Fund
RNGGX Fund  USD 58.01  0.10  0.17%   
New Economy Fund competes with Marsico 21st, Northern Small, Aberdeen Select, HUMANA, and Barloworld; as well as few others. The fund is listed under World Large-Stock Growth category and is part of American Funds family. Analyzing New Economy competition allows you to expand the diversification possibilities of your existing portfolios and to get a better perspective on locking in new positions. Investors sometimes prefer comparable analysis of New Economy to its intrinsic valuation because they are able to contrast its competitors on a relative basis. Check out New Economy Correlation with its peers.
You can use the Comparative Equity Analysis module to analyze the advantages of investing in your portfolio's related equities across multiple sectors and thematic ideas. Please use the input box below to enter symbols for particular investments you would like to analyze. With the equity comparison module, you can estimate the relative effect of New Economy competition on your existing holdings.
  
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of New Economy's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Hype
Prediction
LowEstimatedHigh
57.0558.0158.97
Details
Intrinsic
Valuation
LowRealHigh
57.0157.9758.93
Details
Naive
Forecast
LowNextHigh
56.2657.2258.18
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
56.7457.7258.69
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as New Economy. Your research has to be compared to or analyzed against New Economy's peers to derive any actionable benefits. When done correctly, New Economy's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in New Economy Fund.

New Economy Competition Correlation Matrix

Typically, diversification allows investors to combine positions across different asset classes to reduce overall portfolio risk. Correlation between New Economy and its competitors represents the degree of relationship between the price movements of corresponding funds. A correlation of about +1.0 implies that the price of New and its corresponding peer move in tandem. A correlation of -1.0 means that prices move in opposite directions. A correlation of close to zero suggests that the price movements of assets are uncorrelated; in other words, the historical price movement of New Economy Fund does not affect the price movement of the other competitor.
Click cells to compare fundamentals   Check Volatility   Backtest Portfolio
High positive correlations   
MSTSX
+ 0.95
BJBIX
MSTSX
+ 0.93
MXXIX
BJBIX
+ 0.92
MXXIX
ABHYX
+ 0.82
MXXIX
ABHYX
+ 0.82
MSTSX
ABHYX
+ 0.8
BJBIX
  
High negative correlations   
BRRAY
- 0.82
MXXIX
MSTSX
- 0.81
BRRAY
BRRAY
- 0.78
BJBIX
ABHYX
- 0.7
BRRAY
BRRAY
- 0.68
AQUI
BRRAY
- 0.55
NOSGX

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MXXIX  0.88  0.00  0.03  0.08  0.94 
(0.90)
 1.90 
(1.54)
 4.34 
NOSGX  0.93 (0.08)(0.02) 0.04  1.23 
(0.96)
 1.98 
(1.91)
 6.77 
BJBIX  0.60 (0.01)(0.02) 0.07  0.78 
(0.60)
 1.49 
(1.50)
 4.14 
444859BR2  0.78  0.08  0.03  0.24  1.03 
(0.92)
 1.12 
(1.04)
 10.31 
AQUI  1.32  0.62  0.00  1.04  0.00 
 0.00 
 0.00 
 0.00 
 25.00 
BRRAY  0.63 (0.17) 0.00  0.33  0.00 
 0.00 
 0.00 
 0.00 
 18.45 
MSTSX  0.46 (0.01)(0.03) 0.07  0.60 
(0.51)
 1.03 
(1.06)
 3.20 
ABHYX  0.16  0.01 (0.22) 2.44  0.19 
(0.22)
 0.45 
(0.34)
 1.61 
LBHIX  0.19 (0.02)(0.24)(0.01) 0.21 
(0.30)
 0.49 
(0.48)
 1.21 
SCAXF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
 0.00 
 0.00 

New Economy Competitive Analysis

The better you understand New Economy competitors, the better chance you have of utilizing it as a position in your portfolios. From an individual investor's perspective, New Economy's competitive analysis can cover a whole range of metrics. Some of these will be more critical depending on who you are as an investor and how you react to market volatility. However, if you are locking your investment sandscape to a long-term horizon, comparing the fundamental indicator across New Economy's competition over several years is one of the best ways to analyze its investment potential.
    
 Better Than Average     
    
 Worse Than Peers    View Performance Chart
RNGGX MXXIX NOSGX BJBIX 444859BR2 AQUI BRRAY MSTSX ABHYX LBHIX
 0.17 
 58.01 
New
 0.29 
 41.24 
Marsico
 0.21 
 19.32 
Northern
 0.56 
 26.95 
Aberdeen
 7.64 
 84.12 
HUMANA
 0.00 
 0.01 
Aquagold
 0.00 
 3.54 
Barloworld
 0.85 
 10.68 
Morningstar
 0.11 
 8.71 
High
 0.24 
 4.11 
Thrivent
Market Volatility
(90 Days Market Risk)
Very steady
Very steady
Very steady
Very steady
Very steady
Out of control
Moderately volatile
Very steady
Very steady
Very steady
Market Performance
(90 Days Performance)
Modest
OK
Weak
OK
Modest
OK
Very Weak
OK
Modest
Very Weak
Odds of Financial Distress
(Probability Of Bankruptcy)
Low
Low
Low
Low
Below Average
Below Average
Low
Low
Low
Low
Current Valuation
(Equity Enterprise Value)
Fairly Valued
Fairly Valued
Fairly Valued
Fairly Valued
Over Valued
Over Valued
Over Valued
Fairly Valued
Fairly Valued
Fairly Valued
Buy or Sell Advice
(Average Analysts Consensus)
Not Available
Not Available
Not Available
Not Available
Not Available
Not Available
Not Available
Not Available
Not Available
Not Available
Trade Advice
(90 Days Macroaxis Advice)
Hold
Strong Hold
Strong Hold
Strong Hold
Hold
Sell
Strong Sell
Strong Hold
Hold
Hold
Current Ratio
N/A
N/A
N/A
N/A
N/A
N/A
1.49
N/A
N/A
N/A
Net Asset
21.62 B
253.98 M
1.62 B
85.4 M
N/A
3.19 K
54.41 B
116.1 M
672.37 M
674.44 M
Profit Margin
N/A
N/A
N/A
N/A
N/A
N/A
0.0519
N/A
N/A
N/A
EBITDA
N/A
N/A
N/A
N/A
N/A
(727.69 K)
2.77 B
N/A
N/A
N/A
Price To Book
2.61
3.79
1.52
2.08
N/A
N/A
0.99
N/A
N/A
1.58
Current Valuation
N/A
N/A
N/A
N/A
N/A
912.76 K
1.11 B
N/A
N/A
N/A
Operating Margin
N/A
N/A
N/A
N/A
N/A
N/A
0.1
N/A
N/A
N/A
Five Year Return
9.34
9.21
5.64
2.85
N/A
N/A
3.98
6.96
1.63
2.57
Retained Earnings
N/A
N/A
N/A
N/A
N/A
(4.18 M)
13.37 B
N/A
N/A
N/A
Current Asset
N/A
N/A
N/A
N/A
N/A
N/A
25.84 B
N/A
N/A
N/A
One Year Return
23.04
21.25
12.24
6.1
N/A
N/A
N/A
10.06
4.55
7.54
Beta
N/A
N/A
N/A
N/A
N/A
7.05
0.63
N/A
N/A
N/A
Cash Position Weight
13.06
24.86
0.24
3.98
N/A
N/A
N/A
14.28
0.1
6.56
Equity Positions Weight
86.36
75.14
99.76
96.02
N/A
N/A
N/A
61.63
N/A
0.07
Number Of Employees
1
1
1
1
N/A
7
36
1
1
1
Shares Outstanding
N/A
N/A
N/A
N/A
N/A
965.83 K
185.7 M
N/A
N/A
N/A
Three Year Return
1.01
-2.79
1.7
-3.84
N/A
N/A
N/A
3.79
-1.66
1.2
Cash Flow From Operations
N/A
N/A
N/A
N/A
N/A
(218.19 K)
1.89 B
N/A
N/A
N/A
Annual Yield
0.0049
N/A
0.0141
N/A
N/A
N/A
0.0543
0.0223
0.0041
0.0582
Total Debt
N/A
N/A
N/A
N/A
N/A
N/A
8.64 B
N/A
N/A
N/A
Return On Equity
N/A
N/A
N/A
N/A
N/A
N/A
0.0588
N/A
N/A
N/A
Bond Positions Weight
N/A
N/A
N/A
N/A
N/A
N/A
N/A
22.72
2.0
92.23
Z Score
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Holdings Turnover
N/A
N/A
N/A
N/A
N/A
N/A
N/A
269.0
N/A
N/A
Return On Asset
N/A
N/A
N/A
N/A
N/A
-5.5
0.047
N/A
N/A
N/A
Book Value Per Share
N/A
N/A
N/A
N/A
N/A
-1.18
99.76
N/A
N/A
N/A
Minimum Initial Investment
N/A
N/A
2.5 K
N/A
N/A
N/A
N/A
N/A
N/A
2 K
Current Liabilities
N/A
N/A
N/A
N/A
N/A
794 K
13.9 B
N/A
N/A
N/A
Total Asset
34.02 B
232.77 M
N/A
76.14 M
N/A
3.19 K
54.41 B
215.11 M
243.16 M
347.66 M
Last Dividend Paid
N/A
N/A
0.22
0.19
N/A
N/A
4.6
N/A
0.03
0.02
Debt To Equity
N/A
N/A
N/A
N/A
N/A
N/A
0.68
N/A
N/A
N/A
Target Price
N/A
N/A
N/A
N/A
N/A
N/A
7.68
N/A
N/A
N/A
Market Capitalization
N/A
N/A
N/A
N/A
N/A
96.58 K
955.54 M
50.36 M
N/A
N/A
Price To Earning
22.08
32.81
17.44
18.9
N/A
-0.22
9.18
N/A
N/A
35.48
Price To Sales
1.34
3.49
1.01
1.92
N/A
N/A
0.0285
N/A
N/A
1.23
Net Income
N/A
N/A
N/A
N/A
N/A
(627.79 K)
2.04 B
N/A
N/A
N/A
Earnings Per Share
N/A
N/A
N/A
N/A
N/A
-0.63
0.35
N/A
N/A
N/A
Shares Owned By Insiders
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Year To Date Return
4.99
6.7
0.92
2.02
N/A
N/A
N/A
0.77
0.51
0.0155
Revenue
N/A
N/A
N/A
N/A
N/A
N/A
39.38 B
N/A
N/A
N/A
Ten Year Return
14.13
11.91
7.11
1.87
N/A
N/A
N/A
N/A
4.84
6.0
Working Capital
N/A
N/A
N/A
N/A
N/A
(794 K)
11.95 B
N/A
N/A
N/A
Cash And Equivalents
N/A
N/A
N/A
N/A
N/A
1.15 K
5.11 B
N/A
N/A
N/A
Cash Per Share
N/A
N/A
N/A
N/A
N/A
N/A
25.52
N/A
N/A
N/A
Gross Profit
N/A
N/A
N/A
N/A
N/A
(143.88 K)
5.12 B
N/A
N/A
N/A
Day Typical Price
58.01
41.24
19.32
26.95
84.12
0.006
3.54
10.68
8.71
4.11
Daily Balance Of Power
(9,223,372,036,855)
(9,223,372,036,855)
(9,223,372,036,855)
9.2 T
9.2 T
0.0
0.0
9.2 T
9.2 T
(9,223,372,036,855)
Period Momentum Indicator
(0.10)
(0.12)
(0.04)
0.15
5.97
N/A
N/A
0.09
0.01
(0.01)
Rate Of Daily Change
1.0
1.0
1.0
1.01
1.08
1.0
1.0
1.01
1.0
1.0
Day Median Price
58.01
41.24
19.32
26.95
84.12
0.006
3.54
10.68
8.71
4.11
Price Action Indicator
(0.05)
(0.06)
(0.02)
0.075
2.98
N/A
N/A
0.045
0.005
(0.01)
Relative Strength Index
46.22
43.46
49.6
62.88
33.24
100.0
14.61
45.87
37.77
52.76
Coefficient Of Variation
1107.91
875.27
1922.03
1053.42
1237.18
573.64
(940.98)
848.08
1408.39
3349.72
Mean Deviation
0.7135
0.8796
0.9265
0.6048
0.775
1.32
0.6346
0.4634
0.1628
0.186
Jensen Alpha
(0.02)
(0)
(0.08)
(0.01)
0.0804
0.6166
(0.17)
(0.01)
0.0075
(0.02)
Total Risk Alpha
(0.05)
(0.03)
(0.11)
(0.04)
(0.10)
0.1367
(0.51)
(0.02)
(0.03)
(0.04)
Sortino Ratio
(0.01)
0.0257
(0.02)
(0.02)
0.0308
N/A
N/A
(0.03)
(0.22)
(0.24)
Downside Variance
0.823
1.16
1.87
0.8355
1.64
N/A
N/A
0.5671
0.1289
0.1302
Standard Deviation
0.9313
1.08
1.23
0.8228
1.67
3.91
2.06
0.6331
0.2508
0.258
Kurtosis
0.1844
(0.62)
1.04
0.6846
13.29
32.12
22.82
1.6
3.54
0.1983
Potential Upside
1.61
1.9
1.98
1.49
1.12
N/A
N/A
1.03
0.4545
0.4854
Treynor Ratio
0.0667
0.0817
0.0354
0.0721
0.2399
1.04
0.3307
0.0745
2.44
(0.01)
Maximum Drawdown
4.74
4.34
6.77
4.14
10.31
25.0
18.45
3.2
1.61
1.21
Variance
0.8673
1.16
1.52
0.6771
2.78
15.3
4.23
0.4008
0.0629
0.0665
Market Risk Adjusted Performance
0.0767
0.0917
0.0454
0.0821
0.2499
1.05
0.3407
0.0845
2.45
3.0E-4
Risk Adjusted Performance
0.0596
0.0755
0.0374
0.0616
0.0567
0.1171
(0.06)
0.0737
0.0294
0.0044
Skewness
0.0901
0.0141
(0.43)
(0.36)
1.93
5.72
(3.59)
(0.75)
(0.43)
(0.29)
Semi Deviation
0.7848
0.9422
1.23
0.7846
1.03
N/A
N/A
0.598
0.1898
0.206
Information Ratio
(0.01)
0.0257
(0.03)
(0.02)
0.0237
0.15
(0.15)
(0.03)
(0.31)
(0.34)
Value At Risk
(1.52)
(1.54)
(1.91)
(1.50)
(1.04)
N/A
N/A
(1.06)
(0.34)
(0.48)
Expected Short fall
(0.75)
(0.90)
(0.96)
(0.60)
(0.92)
N/A
N/A
(0.51)
(0.22)
(0.30)
Downside Deviation
0.9072
1.08
1.37
0.914
1.28
N/A
N/A
0.753
0.3591
0.3609
Semi Variance
0.6158
0.8878
1.51
0.6156
1.07
N/A
N/A
0.3576
0.036
0.0424

New Economy Competition Performance Charts

Five steps to successful analysis of New Economy Competition

New Economy's competitive analysis is the process of researching and evaluating its competitive landscape. It provides an understanding of the strengths, weaknesses, opportunities, and threats (SWOT) faced by New Economy Fund in relation to its competition. New Economy's competition analysis typically involves several steps, including:
  • Identifying the key players in the market: This involves identifying the major competitors of New Economy in the market, both direct and indirect, as well as new entrants and disruptive technologies.
  • Assessing the strengths and weaknesses of each competitor: This involves evaluating each competitor's strengths and weaknesses in areas such as product offerings, market share, brand recognition, financial performance, and distribution channels.
  • Understanding the competitive environment: This involves evaluating the regulatory environment, economic conditions, and other factors that may impact New Economy's competitive landscape.
  • Identifying opportunities and threats: This involves using the information gathered during the analysis to identify opportunities and threats to New Economy Fund, and developing a strategy to address them.
  • Evaluating the competitive landscape: This involves understanding the competitive dynamics of the market, such as pricing, marketing, and distribution strategies, as well as analyzing the competitive advantage of each competitor.
Competitive analysis is an essential tool for businesses to stay ahead of the competition and can be used to inform decision-making and strategy development. By understanding the competitive landscape and staying informed about the activities of competitors, a company can make more informed decisions and improve its overall performance.

Complement your New Economy position

In addition to having New Economy in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.

Did You Try This Idea?

Run Pharmaceutical Products Thematic Idea Now

Pharmaceutical Products
Pharmaceutical Products Theme
Fama and French investing themes focus on testing asset pricing under different economic assumptions. The Pharmaceutical Products theme has 61 constituents at this time.
You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Pharmaceutical Products Theme or any other thematic opportunities.
View All  Next Launch
Check out New Economy Correlation with its peers.
Note that the New Economy Fund information on this page should be used as a complementary analysis to other New Economy's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Financial
Analysis
Details
Buy or Sell
Advice
Details
Technical
Analysis
Details
Please note, there is a significant difference between New Economy's value and its price as these two are different measures arrived at by different means. Investors typically determine if New Economy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, New Economy's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY