New Economy Fund Price on January 8, 2024
| RNGEX Fund | USD 57.31 0.84 1.49% |
Below is the normalized historical share price chart for New Economy Fund extending back to May 31, 2002. This chart has been adjusted for all splits and dividends and is plotted against all major global economic recessions. As of today, the current price of New Economy stands at 57.31, as last reported on the 28th of April, with the highest price reaching 57.31 and the lowest price hitting 57.31 during the day.
If you're considering investing in New Mutual Fund, it is important to understand the factors that can impact its price. We consider New Economy very steady. New Economy Fund has Sharpe Ratio of 0.0662, which conveys that the entity had a 0.0662% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for New Economy, which you can use to evaluate the volatility of the fund. Please verify New Economy's Risk Adjusted Performance of 0.0559, mean deviation of 0.739, and Downside Deviation of 0.9009 to check out if the risk estimate we provide is consistent with the expected return of 0.0634%.
New Mutual Fund price history is provided at the adjusted basis, taking into account all of the recent filings.
New |
Sharpe Ratio = 0.0662
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Estimated Market Risk
| 0.96 actual daily | 8 92% of assets are more volatile |
Expected Return
| 0.06 actual daily | 1 99% of assets have higher returns |
Risk-Adjusted Return
| 0.07 actual daily | 5 95% of assets perform better |
Based on monthly moving average New Economy is performing at about 5% of its full potential. If added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of New Economy by adding it to a well-diversified portfolio.
New Economy Valuation on January 8, 2024
It is possible to determine the worth of New Economy on a given historical date. On January 8, 2024 New was worth 52.8 at the beginning of the trading date compared to the closed value of 52.8. We use multiple weighted factors in our valuation methodologies to arrive at the intrinsic value of New Economy mutual fund. Still, in general, we apply an absolute valuation method to find New Economy's value based on its fundamental and technical indicators available within our service. As compared to an absolute model, our relative valuation model uses a comparative analysis of New Economy where we calculate exposure to its market risk and evaluate relevant financial multiples and ratios against New Economy's related companies.
| Open | High | Low | Close | Volume | |
| 51.93 | 51.93 | 51.93 | 51.93 | 1.00 | |
01/08/2024 | 52.80 | 52.80 | 52.80 | 52.80 | 1.00 |
| 52.79 | 52.79 | 52.79 | 52.79 | 1.00 |
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New Economy Trading Date Momentum on January 8, 2024
| On January 09 2024 New Economy Fund was traded for 52.79 at the closing time. The highest daily price throughout the period was 52.79 and the lowest price was 52.79 . There was no trading activity during the period 1.0. Lack of trading volume on 01/09/2024 added to the next day price reduction. The trading delta at closing time to closing price of the next trading day was 0.02% . The trading delta at closing time to current closing price is 1.12% . |
New Economy Fund Fundamentals Correlations and Trends
By evaluating New Economy's financials over time, investors can gain insight into future company performance. However, you can also analyze the published financial statements to find patterns among New Economy's main balance sheet or income statement drivers and many other relevant indicators that can statistically be found significantly correlated or uncorrelated. New financial account trend analysis is a perfect complement when working with valuation or volatility modules.About New Economy Mutual Fund history
New Economy investors dedicate a lot of time and effort to gaining insight into how a market's past behavior relates to its future. Access to timely market data for New is vital when making an investment decision, and regardless of whether you use fundamental or technical analysis, your return on investment in New Economy Fund will depend on recognizing future opportunities and eliminating past mistakes. Historical data analysis is the study of market behavior over a given time. Recorded market-related data such as price, volatility, and volume can be quantified and studied over a defined period. Through a detailed examination of a market's past behavior, traders and investors can gain perspective on the inner workings of that market. The information obtained throughout analyzing New Economy stock prices may prove useful in developing a viable investing in New Economy
The fund invests primarily in common stocks that the investment adviser believes have the potential for growth. It invests in securities of companies that can benefit from innovation, exploit new technologies or provide products and services that meet the demands of an evolving global economy. The fund may invest up to 50 percent of its assets outside the United States, including in developing countries.
New Economy Mutual Fund Technical Analysis
New Economy 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.
Price Boundaries
New Economy Period Price Range
Low | January 8, 2024
| High |
52.80 | 52.80 |
New Economy April 28, 2024 Market Strength
Market strength indicators help investors to evaluate how New Economy mutual fund reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading New Economy shares will generate the highest return on investment. By undertsting and applying New Economy mutual fund market strength indicators, traders can identify New Economy Fund entry and exit signals to maximize returns
New Economy Technical and Predictive Indicators
Predictive indicators are helping investors to find signals for New Economy's price direction in advance. Along with the technical and fundamental analysis of New Mutual Fund historical price patterns, it is also worthwhile for investors to track various predictive indicators of New to make sure they correctly time the market and exploit it's hidden potentials. Even though most predictive indicators are useful for the short-term horizon, it's virtually impossible to predict the unforeseen market. For traders with a short-term horizon, predictive indicators add value when properly applied. Long-term investors, however, may find many predictive indicators less useful.
| Risk Adjusted Performance | 0.0559 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.0622 |
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Check out Your Equity Center 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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.