American High-income Correlations
| ABHFX Fund | USD 15.14 0.05 0.33% |
The current 90-days correlation between American High Income and Tax Exempt Bond is 0.35 (i.e., Weak diversification). The correlation of American High-income 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 High-income Correlation With Market
Good diversification
The correlation between American High Income Municipal and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American High Income Municipal and DJI in the same portfolio, assuming nothing else is changed.
American |
Moving together with American Mutual Fund
| 0.7 | RNCCX | American Funds Income | PairCorr |
| 0.95 | AMHIX | American High Income | PairCorr |
| 0.95 | TEBCX | Tax Exempt Bond | PairCorr |
| 0.98 | TEAFX | Tax Exempt Bond | PairCorr |
| 0.71 | FPTPX | American Funds Conse | PairCorr |
| 0.97 | TEFEX | Tax Exempt Fund | PairCorr |
| 0.77 | RNRPX | American Funds Retirement | PairCorr |
| 0.91 | TEPCX | American Funds Tax | PairCorr |
| 0.95 | TEPAX | American Funds Tax | PairCorr |
| 0.95 | TEPFX | American Funds Tax | PairCorr |
Related Correlations Analysis
| 0.92 | 0.72 | 0.61 | 0.91 | AFTFX | ||
| 0.92 | 0.74 | 0.55 | 0.94 | AHICX | ||
| 0.72 | 0.74 | 0.72 | 0.8 | AHTFX | ||
| 0.61 | 0.55 | 0.72 | 0.59 | BFAFX | ||
| 0.91 | 0.94 | 0.8 | 0.59 | LTXFX | ||
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Risk-Adjusted Indicators
There is a big difference between American Mutual Fund performing well and American High-income 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 High-income'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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AFTFX | 0.17 | (0.01) | 0.00 | (0.50) | 0.00 | 0.33 | 0.97 | |||
| AHICX | 0.18 | (0.01) | 0.00 | 2.68 | 0.00 | 0.33 | 1.11 | |||
| AHTFX | 0.19 | 0.02 | 0.29 | 0.08 | 0.12 | 0.41 | 1.14 | |||
| BFAFX | 0.23 | 0.03 | 0.29 | 1.15 | 0.14 | 0.54 | 1.36 | |||
| LTXFX | 0.10 | 0.00 | 0.33 | 0.05 | 0.05 | 0.26 | 0.65 |