New World Fund Market Value
| RNWGX Fund | USD 76.26 0.15 0.20% |
| Symbol | New |
New World 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to New World's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of New World.
| 03/18/2024 |
| 04/17/2024 |
If you would invest 0.00 in New World on March 18, 2024 and sell it all today you would earn a total of 0.00 from holding New World Fund or generate 0.0% return on investment in New World over 30 days. New World is related to or competes with American Mutual, American Mutual, American Funds, American Funds, Income Fund, New Economy, and New Economy. The fund invests primarily in common stocks of companies with significant exposure to countries with developing economie... More
New World Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure New World's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess New World Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7079 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 3.28 | |||
| Value At Risk | (0.96) | |||
| Potential Upside | 0.984 |
New World Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New World's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New World's standard deviation. In reality, there are many statistical measures that can use New World historical prices to predict the future New World's volatility.| Risk Adjusted Performance | 0.0476 | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.0465 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of New World'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.
New World Fund Backtested Returns
We consider New World very steady. New World Fund has Sharpe Ratio of 0.11, which conveys that the entity had a 0.11% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for New World, which you can use to evaluate the volatility of the fund. Please verify New World's Mean Deviation of 0.474, downside deviation of 0.7079, and Risk Adjusted Performance of 0.0476 to check out if the risk estimate we provide is consistent with the expected return of 0.0679%. The fund secures a Beta (Market Risk) of 0.8, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, New World's returns are expected to increase less than the market. However, during the bear market, the loss of holding New World is expected to be smaller as well.
Auto-correlation | -0.34 |
Poor reverse predictability
New World Fund has poor reverse predictability. Overlapping area represents the amount of predictability between New World time series from 18th of March 2024 to 2nd of April 2024 and 2nd of April 2024 to 17th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of New World Fund price movement. The serial correlation of -0.34 indicates that nearly 34.0% of current New World price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.34 | |
| Spearman Rank Test | -0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 1.0 |
New World Fund lagged returns against current returns
Autocorrelation, which is New World mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting New World's mutual fund expected returns. We can calculate the autocorrelation of New World returns to help us make a trade decision. For example, suppose you find that New World has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
New World regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If New World mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New World mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New World mutual fund over time.
Current vs Lagged Prices |
| Timeline |
New World Lagged Returns
When evaluating New World's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New World mutual fund have on its future price. New World autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, New World autocorrelation shows the relationship between New World mutual fund current value and its past values and can show if there is a momentum factor associated with investing in New World Fund.
Regressed Prices |
| Timeline |
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 World 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 World's short interest history, or implied volatility extrapolated from New World options trading.
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Check out New World Correlation, New World Volatility and New World Alpha and Beta module to complement your research on New World. Note that the New World Fund information on this page should be used as a complementary analysis to other New World'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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
New World technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.