American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Balanced
BLPFX Fund  USD 18.64  0.15  0.81%   
The current 90-days correlation between American Funds Balanced and American Funds Growth is 0.98 (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

Very weak diversification

The correlation between American Funds Balanced and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds 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 Funds 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 census.

Moving together with American Mutual Fund

  0.86AMECX Income FundPairCorr
  0.86RNEBX New World FundPairCorr
  0.8AMFCX American MutualPairCorr
  0.8AMFFX American MutualPairCorr
  0.97RNCCX American Funds IncomePairCorr
  0.85AMEFX Income FundPairCorr
  0.68RNGGX New Economy FundPairCorr
  0.69RNGFX New Economy Fund Potential GrowthPairCorr
  0.69RNGHX New Economy FundPairCorr
  0.63RNGBX New Economy FundPairCorr
  0.64RNGAX New Economy FundPairCorr
  0.68RNGEX New Economy FundPairCorr
  0.66RNGCX New Economy FundPairCorr
  0.68AMHIX American High IncomePairCorr
  0.61TEBCX Tax Exempt BondPairCorr
  0.62TECCX Tax Exempt FundPairCorr
  0.68TEAFX Tax Exempt BondPairCorr
  0.97FPTPX American Funds ConsePairCorr
  0.64TEFEX Tax Exempt FundPairCorr
  0.67RNNEX New Economy FundPairCorr
  0.95CDJAX American Funds CollegePairCorr
  0.67AMPCX Amcap Fund ClassPairCorr
  0.72AMPFX Amcap Fund ClassPairCorr
  0.86RNPBX New PerspectivePairCorr
  0.85RNPAX New PerspectivePairCorr
  0.88RNPHX New PerspectivePairCorr
  0.88RNPGX New PerspectivePairCorr
  0.87RNPCX New PerspectivePairCorr
  0.88RNPFX New PerspectivePairCorr
  0.87RNPEX New PerspectivePairCorr
  0.81AMRMX American MutualPairCorr
  0.81AMRFX American MutualPairCorr
  0.84RNRPX American Funds RetirementPairCorr
  0.66AMUSX Us Government SecuritiesPairCorr
  0.74TEPCX American Funds TaxPairCorr
  0.76TEPAX American Funds TaxPairCorr
  0.75TEPFX American Funds TaxPairCorr
  0.87RNWFX New World Fund Potential GrowthPairCorr

Related Correlations Analysis

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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.

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