American High Correlations

CITCX Fund

USD 9.85 0.01 0.10%

The current 90-days correlation between American High Income and Madison Diversified Income is 0.56 (i.e., Very weak diversification). The correlation of American High 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 Correlation With Market

Modest diversification

The correlation between American High Income and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American High Income 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 High Income. 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 main economic indicators.

Moving together with American Mutual Fund

0.75	FPPPX	American Funds Prese	Pair Corr
0.62	RNRPX	American Funds Retirement	Pair Corr
0.63	TEPFX	American Funds Tax	Pair Corr

Related Correlations Analysis

	MBLAX	DSCPX	SWSSX	QDARX	EKBDX	FVOKX	JDJRX
MBLAX		0.85	0.85	-0.29	0.86	0.68	-0.19	MBLAX
DSCPX	0.85		0.97	-0.6	0.75	0.33	-0.23	DSCPX
SWSSX	0.85	0.97		-0.49	0.82	0.36	-0.22	SWSSX
QDARX	-0.29	-0.6	-0.49		-0.12	0.2	0.15	QDARX
EKBDX	0.86	0.75	0.82	-0.12		0.62	-0.34	EKBDX
FVOKX	0.68	0.33	0.36	0.2	0.62		-0.1	FVOKX
JDJRX	-0.19	-0.23	-0.22	0.15	-0.34	-0.1		JDJRX
	MBLAX	DSCPX	SWSSX	QDARX	EKBDX	FVOKX	JDJRX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

SWSSX	+ 0.97	DSCPX
EKBDX	+ 0.86	MBLAX
DSCPX	+ 0.85	MBLAX
SWSSX	+ 0.85	MBLAX
EKBDX	+ 0.82	SWSSX
EKBDX	+ 0.75	DSCPX

High negative correlations

QDARX	- 0.6	DSCPX
QDARX	- 0.49	SWSSX
JDJRX	- 0.34	EKBDX
QDARX	- 0.29	MBLAX
JDJRX	- 0.23	DSCPX
JDJRX	- 0.22	SWSSX

Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American High 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'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
MBLAX	0.23	(0.02)	0.00	(0.08)	0.00	0.00	0.46	(0.31)	1.79
DSCPX	0.77	(0.01)	(0.03)	0.03	0.98	(0.88)	1.60	(1.30)	8.80
SWSSX	0.94	0.00	(0.02)	0.06	1.18	(1.00)	1.84	(1.63)	10.26
QDARX	0.10	(0.01)	0.00	2.44	0.00	0.00	0.25	(0.25)	0.74
EKBDX	0.86	0.00	(0.02)	0.04	1.45	(0.78)	1.43	(1.57)	8.79
FVOKX	0.61	(0.04)	0.00	(0.09)	0.00	0.00	1.16	(1.26)	3.60
JDJRX	0.39	0.01	(0.06)	0.71	0.43	(0.46)	0.88	(0.79)	2.40

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC