American Balanced Correlations

Mutual Funds . USA . 
Fund . American Balanced
ABALX Fund  USD 35.30  0.10  0.28%   
The current 90-days correlation between American Balanced and Income Fund Of is 0.87 (i.e., Very poor diversification). The correlation of American Balanced 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

American Balanced Correlation With Market

Very weak diversification

The correlation between American Balanced and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Balanced and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Balanced. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with American Mutual Fund

  0.87AMECX Income FundPairCorr
  0.87RNEBX New World FundPairCorr
  0.96AMFCX American MutualPairCorr
  0.95AMFFX American MutualPairCorr
  0.78RNCCX American Funds IncomePairCorr
  0.87AMEFX Income FundPairCorr
  0.94RNGGX New Economy FundPairCorr
  0.63RNGFX New Economy FundPairCorr
  0.93RNGHX New Economy FundPairCorr
  0.93RNGBX New Economy FundPairCorr
  0.93RNGAX New Economy FundPairCorr
  0.63RNGEX New Economy FundPairCorr
  0.93RNGCX New Economy FundPairCorr
  0.81AMHIX American High IncomePairCorr
  0.83TEBCX Tax Exempt BondPairCorr
  0.81TECCX Tax Exempt FundPairCorr
  0.81TEAFX Tax Exempt BondPairCorr
  0.77FPTPX American Funds ConsePairCorr
  0.79TECFX Tax Exempt FundPairCorr
  0.79TEFEX Tax Exempt FundPairCorr
  0.93RNNEX New Economy FundPairCorr
  0.78CDJAX American Funds CollegePairCorr
  0.93AMPCX Amcap Fund ClassPairCorr
  0.93AMPFX Amcap Fund ClassPairCorr
  0.81RNPBX New PerspectivePairCorr
  0.86RNPAX New PerspectivePairCorr
  0.85RNPHX New PerspectivePairCorr
  0.85RNPGX New PerspectivePairCorr
  0.87RNPCX New PerspectivePairCorr
  0.65RNPFX New PerspectivePairCorr
  0.85RNPEX New PerspectivePairCorr
  0.95AMRMX American MutualPairCorr
  0.95AMRFX American MutualPairCorr
  0.71AMUSX Us Government SecuritiesPairCorr
  0.66TEPCX American Funds TaxPairCorr
  0.72TEPAX American Funds TaxPairCorr
  0.72TEPFX American Funds TaxPairCorr
  0.87RNWFX New World FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American Balanced Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze American Balanced's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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