American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds 2030
CCETX Fund  USD 17.07  0.02  0.12%   
The current 90-days correlation between American Funds 2030 and Madison Diversified Income is 0.77 (i.e., Poor 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

Poor diversification

The correlation between American Funds 2030 and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds 2030 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 2030. 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 estimate.

Moving together with American Mutual Fund

  0.69AMECX Income FundPairCorr
  0.8RNEBX New World FundPairCorr
  0.89AMFCX American MutualPairCorr
  0.89AMFFX American MutualPairCorr
  0.83RNCCX American Funds IncomePairCorr
  0.63AMEFX Income FundPairCorr
  0.69RNGHX New Economy FundPairCorr
  0.67RNGBX New Economy FundPairCorr
  0.69RNGEX New Economy FundPairCorr
  0.82FPTPX American Funds ConsePairCorr
  0.88CDJAX American Funds CollegePairCorr
  0.65AMPFX Amcap Fund ClassPairCorr
  0.89RNPBX New PerspectivePairCorr
  0.88RNPAX New PerspectivePairCorr
  0.9RNPHX New PerspectivePairCorr
  0.9RNPGX New PerspectivePairCorr
  0.9RNPFX New PerspectivePairCorr
  0.9RNPEX New PerspectivePairCorr
  0.89AMRMX American MutualPairCorr
  0.89AMRFX American MutualPairCorr
  0.69RNRPX American Funds RetirementPairCorr
  0.8RNWEX New World FundPairCorr
  0.79RNWGX New World FundPairCorr
  0.8RNWBX New World FundPairCorr
  0.8RNWAX New World FundPairCorr
  0.8RNWCX New World FundPairCorr
  0.73ANCFX American Funds FundaPairCorr
  0.67ANFCX New Economy FundPairCorr
  0.69ANEFX New Economy FundPairCorr
  0.69ANFFX New Economy FundPairCorr

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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