Timothy Armour - New Economy Fund Manager
CNGEX Fund | USD 55.13 0.10 0.18% |
Armour is an equity portfolio manager and a Senior Vice President with Capital Research and Management Company.
Phone | 800-421-4225 |
New Economy Management Performance (%)
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New Fund Performance Indicators
The ability to make a profit is the ultimate goal of any investor. But to identify the right mutual fund is not an easy task. Is New Economy a good investment? Although profit is still the single most important financial element of any organization, multiple performance indicators can help investors identify the equity that they will appreciate over time.
Price To Earning | 22.08 X | ||||
Price To Book | 2.61 X | ||||
Price To Sales | 1.34 X | ||||
Total Asset | 34.02 B | ||||
Year To Date Return | 3.92 % | ||||
One Year Return | 21.09 % | ||||
Three Year Return | (0.12) % | ||||
Five Year Return | 8.57 % | ||||
Ten Year Return | 13.38 % | ||||
Net Asset | 21.62 B |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards New Economy in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, New Economy's short interest history, or implied volatility extrapolated from New Economy options trading.
Pair Trading with New Economy
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if New Economy position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in New Economy will appreciate offsetting losses from the drop in the long position's value.Moving together with New Mutual Fund
0.88 | AMECX | Income Fund | PairCorr |
0.97 | RNEBX | New World Fund | PairCorr |
0.93 | AMFCX | American Mutual | PairCorr |
0.93 | AMFFX | American Mutual | PairCorr |
0.89 | RNCCX | American Funds Me | PairCorr |
The ability to find closely correlated positions to New Economy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace New Economy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back New Economy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling New Economy Fund to buy it.
The correlation of New Economy 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as New Economy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if New Economy Fund moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for New Economy can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in New Economy Fund. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in income. 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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.