American Funds Correlations

BFCFX Fund

USD 9.57 0.01 0.10%

The current 90-days correlation between American Funds Porate and Pimco Investment Grade is 0.97 (i.e., Almost no diversification). The correlation of American Funds 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 Funds Correlation With Market

Good diversification

The correlation between American Funds Porate and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Porate 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 Funds Porate. 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 census.

Moving together with American Mutual Fund

0.93	FPPPX	American Funds Prese	Pair Corr
0.61	AMHIX	American High Income	Pair Corr
0.65	TEBCX	Tax Exempt Bond	Pair Corr
0.77	TECCX	Tax Exempt Fund	Pair Corr
0.65	TEAFX	Tax Exempt Bond	Pair Corr
0.68	TECFX	Tax Exempt Fund	Pair Corr
0.7	TEFEX	Tax Exempt Fund	Pair Corr
0.98	AMUSX	Us Government Securities	Pair Corr
0.72	TEPCX	American Funds Tax	Pair Corr
0.71	TEPAX	American Funds Tax	Pair Corr
0.64	TEPFX	American Funds Tax	Pair Corr

Moving against American Mutual Fund

0.57	RNGGX	New Economy Fund	Pair Corr
0.57	RNGHX	New Economy Fund	Pair Corr
0.57	RNGAX	New Economy Fund	Pair Corr
0.57	RNNEX	New Economy Fund	Pair Corr
0.56	RNGFX	New Economy Fund	Pair Corr
0.56	RNGEX	New Economy Fund	Pair Corr
0.56	RNGCX	New Economy Fund	Pair Corr
0.55	RNGBX	New Economy Fund	Pair Corr
0.49	AMPFX	Amcap Fund Class	Pair Corr
0.48	AMPCX	Amcap Fund Class	Pair Corr
0.43	AMFFX	American Mutual	Pair Corr
0.41	AMFCX	American Mutual	Pair Corr
0.39	CDJAX	American Funds College	Pair Corr
0.34	AMEFX	Income Fund	Pair Corr
0.33	AMECX	Income Fund	Pair Corr
0.59	ANCFX	American Funds Funda	Pair Corr
0.56	ANFFX	New Economy Fund	Pair Corr
0.55	ANFCX	New Economy Fund	Pair Corr
0.43	AMRFX	American Mutual	Pair Corr
0.41	AMRMX	American Mutual	Pair Corr

Related Correlations Analysis

	PBDPX	SCRYY	MSTSX	LBHIX	VIASP	XTWO	SVII	70082LAB3	XTWY	RWAYL
PBDPX		-0.3	-0.15	-0.1	-0.44	0.95	-0.5	-0.77	0.96	-0.52	PBDPX
SCRYY	-0.3		0.4	0.56	0.76	-0.21	-0.34	0.51	-0.38	0.85	SCRYY
MSTSX	-0.15	0.4		0.67	0.08	-0.12	0.13	0.23	-0.36	0.46	MSTSX
LBHIX	-0.1	0.56	0.67		0.48	-0.05	0.0	0.4	-0.27	0.68	LBHIX
VIASP	-0.44	0.76	0.08	0.48		-0.33	-0.14	0.71	-0.43	0.83	VIASP
XTWO	0.95	-0.21	-0.12	-0.05	-0.33		-0.6	-0.7	0.91	-0.41	XTWO
SVII	-0.5	-0.34	0.13	0.0	-0.14	-0.6		0.37	-0.49	-0.05	SVII
70082LAB3	-0.77	0.51	0.23	0.4	0.71	-0.7	0.37		-0.75	0.78	70082LAB3
XTWY	0.96	-0.38	-0.36	-0.27	-0.43	0.91	-0.49	-0.75		-0.59	XTWY
RWAYL	-0.52	0.85	0.46	0.68	0.83	-0.41	-0.05	0.78	-0.59		RWAYL
	PBDPX	SCRYY	MSTSX	LBHIX	VIASP	XTWO	SVII	70082LAB3	XTWY	RWAYL

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

XTWY	+ 0.96	PBDPX
XTWO	+ 0.95	PBDPX
XTWY	+ 0.91	XTWO
RWAYL	+ 0.85	SCRYY
RWAYL	+ 0.83	VIASP
RWAYL	+ 0.78	70082LAB3

High negative correlations

70082LAB3	- 0.77	PBDPX
XTWY	- 0.75	70082LAB3
70082LAB3	- 0.7	XTWO
SVII	- 0.6	XTWO
RWAYL	- 0.59	XTWY
RWAYL	- 0.52	PBDPX

Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American Funds 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 Funds' 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
PBDPX	0.23	(0.03)	0.00	3.96	0.00	0.00	0.44	(0.65)	1.45
SCRYY	1.93	0.45	0.12	(0.71)	1.74	(2.85)	5.61	(3.52)	12.99
MSTSX	0.45	(0.01)	(0.11)	0.10	0.39	(0.59)	1.21	(0.84)	2.80
LBHIX	0.10	0.01	(0.41)	0.24	0.00	(0.25)	0.24	(0.24)	0.71
VIASP	0.75	0.10	(0.02)	(1.58)	1.11	(0.81)	2.28	(1.20)	7.18
XTWO	0.08	(0.01)	0.00	1.07	0.00	0.00	0.14	(0.12)	0.55
SVII	0.18	0.00	(0.17)	0.24	0.39	(0.29)	0.44	(0.53)	4.77
70082LAB3	0.70	0.09	(0.03)	(0.69)	0.99	(0.84)	1.75	(1.19)	6.86
XTWY	0.76	(0.10)	0.00	0.98	0.00	0.00	1.33	(1.70)	5.49
RWAYL	0.13	0.02	(0.45)	0.76	0.00	(0.18)	0.32	(0.20)	1.20

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