American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds 2035
CCFTX Fund  USD 18.71  0.03  0.16%   
The current 90-days correlation between American Funds 2035 and Ffcdax is 0.37 (i.e., Weak 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 2035 and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds 2035 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 2035. 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

  0.71RNEBX New World FundPairCorr
  0.8AMFCX American MutualPairCorr
  0.79AMFFX American MutualPairCorr
  0.66RNCCX American Funds IncomePairCorr
  0.8RNGGX New Economy FundPairCorr
  0.8RNGFX New Economy FundPairCorr
  0.79RNGHX New Economy FundPairCorr
  0.78RNGBX New Economy FundPairCorr
  0.78RNGAX New Economy FundPairCorr
  0.79RNGEX New Economy FundPairCorr
  0.79RNGCX New Economy FundPairCorr
  0.65FPTPX American Funds ConsePairCorr
  0.79RNNEX New Economy FundPairCorr
  0.93CDJAX American Funds CollegePairCorr
  0.77AMPCX Amcap Fund ClassPairCorr
  0.78AMPFX Amcap Fund ClassPairCorr
  0.93RNPBX New PerspectivePairCorr
  0.93RNPAX New PerspectivePairCorr
  0.93RNPHX New PerspectivePairCorr
  0.93RNPGX New PerspectivePairCorr
  0.93RNPCX New PerspectivePairCorr
  0.93RNPFX New PerspectivePairCorr
  0.93RNPEX New PerspectivePairCorr
  0.79AMRMX American MutualPairCorr
  0.79AMRFX American MutualPairCorr
  0.7RNWFX New World FundPairCorr

Related Correlations Analysis

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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   
FUHKBX
+ 0.85
FZNOPX
CPUCX
+ 0.77
FTUFOX
FZNOPX
+ 0.42
FFCDAX
CPUCX
+ 0.37
FFCDAX
FTUFOX
+ 0.36
FFCDAX
FUHKBX
+ 0.36
FFCDAX
  
High negative correlations   
FUHKBX
- 0.56
FTUFOX
FUHKBX
- 0.41
CPUCX
FTUFOX
- 0.39
FZNOPX
CPUCX
- 0.22
FZNOPX

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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