Projected Return Density against MarketAssuming 30 trading days horizon, American has beta of 0.94 . This suggests American Funds New Economy A market returns are very sensitive to returns on the market. As the market benchmark goes up or down, American is expected to follow. Moreover, American Funds New Economy A has alpha of 0.94 implying that it can potentially generate 0.94% excess return over S&P 500 after adjusting for the inherited market risk (beta). Assuming 30 trading days horizon, the coefficient of variation of American is 158.46. The daily returns are destributed with a variance of 0.34 and standard deviation of 0.58. The mean deviation of American Funds New Economy A is currently at 0.46. For similar time horizon, the selected benchmark (S&P 500) has volatility of 0.55
Actual Return VolatilityAmerican Funds New Economy A shows 0.58% volatility of returns over 30 trading days. S&P 500 shows 0.55% volatility of returns over 30 trading days.
Follow American Volatility with Macroaxis syndicated feed, custom widget, or your favorite custom stock ticker
American Funds New Economy A has a volatility of 0.58 and is 1.05 times more volatile than S&P 500. 7% of all equities and portfolios are less risky than American. Compared with the overall equity markets, volatility of historical daily returns of American Funds New Economy A is lower than 7 (%) of all global equities and portfolios over the last 30 days. Use American Funds New Economy A to enhance returns of your portfolios. The fund experiences normal upward fluctuation. American returns are very sensitive to returns on the market. As market goes up or down, American is expected to follow.
American correlation with market
American Current Risk Indicators
Suggested Divercification Pairs