Projected Return Density against MarketAssuming 30 trading days horizon, American has beta of 0.64 . This suggests as returns on market go up, American avarage returns are expected to increase less than the benchmark. However during bear market, the loss on holding American Funds New Economy A will be expected to be much smaller as well. Moreover, American Funds New Economy A has alpha of 0.1479 implying that it can potentially generate 0.1479% 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 192.25. The daily returns are destributed with a variance of 0.17 and standard deviation of 0.41. The mean deviation of American Funds New Economy A is currently at 0.35. For similar time horizon, the selected benchmark (S&P 500) has volatility of 0.45
Actual Return VolatilityAmerican Funds New Economy A shows 0.41% volatility of returns over 30 trading days. S&P 500 shows 0.45% volatility of returns over 30 trading days.
Follow American Volatility with Macroaxis syndicated feed, custom widget, or your favorite custom stock ticker
S&P 500 has a standard deviation of returns of 0.45 and is 1.1 times more volatile than American Funds New Economy A. 4% 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 4 (%) 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 moderate upward volatility. Check odds of American to be traded at $43.58 in 30 days. As returns on market increase, American returns are expected to increase less than the market. However during bear market, the loss on holding American will be expected to be smaller as well.
American correlation with market
American Current Risk Indicators
Suggested Divercification Pairs