American Funds Correlations

CPGAX Fund

USD 22.77 0.29 1.29%

The current 90-days correlation between American Funds Global and Prudential High Yield is 0.31 (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

Good diversification

The correlation between American Funds Global 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 Global 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 Global. 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 nation.

Moving together with American Mutual Fund

0.8	FNFPX	American Funds New	Pair Corr
0.93	FFPNX	American Funds New	Pair Corr
0.81	NPFCX	New Perspective	Pair Corr
0.8	ANWPX	New Perspective	Pair Corr
0.94	NPFFX	New Perspective	Pair Corr
0.94	CNPAX	New Perspective	Pair Corr
0.81	CNPEX	New Perspective	Pair Corr
0.94	CNPFX	New Perspective	Pair Corr
0.81	CNPCX	New Perspective	Pair Corr
0.81	RNPAX	New Perspective	Pair Corr

Moving against American Mutual Fund

0.42	KGIIX	Kopernik International	Pair Corr
0.41	MFBIX	Mesirow Enhanced Core	Pair Corr
0.35	LIBAX	Columbia Total Return	Pair Corr
0.34	COSRX	Columbia Overseas	Pair Corr
0.31	CLDRX	Columbia Limited Duration	Pair Corr
0.49	MCSVX	Mainstay Vertible	Pair Corr
0.37	USGNX	Government Securities	Pair Corr

Related Correlations Analysis

	PBHAX	PHDTX	DIHRX	MRHYX	MWHIX	TAHFX	VRHYX
PBHAX		0.91	0.86	0.87	0.88	0.9	0.89	PBHAX
PHDTX	0.91		0.88	0.81	0.95	0.78	0.93	PHDTX
DIHRX	0.86	0.88		0.7	0.83	0.64	0.73	DIHRX
MRHYX	0.87	0.81	0.7		0.7	0.94	0.86	MRHYX
MWHIX	0.88	0.95	0.83	0.7		0.72	0.92	MWHIX
TAHFX	0.9	0.78	0.64	0.94	0.72		0.87	TAHFX
VRHYX	0.89	0.93	0.73	0.86	0.92	0.87		VRHYX
	PBHAX	PHDTX	DIHRX	MRHYX	MWHIX	TAHFX	VRHYX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
PBHAX	0.16	0.03	0.27	0.89	0.00	(0.30)	0.41	(0.21)	1.26
PHDTX	0.11	0.02	0.23	0.19	0.00	(0.15)	0.22	(0.23)	0.79
DIHRX	0.58	0.12	0.21	(9.34)	0.52	(0.69)	1.51	(0.99)	3.80
MRHYX	0.12	0.01	0.23	0.52	0.00	(0.18)	0.24	(0.24)	0.95
MWHIX	0.12	0.02	0.30	0.22	0.00	(0.21)	0.54	(0.22)	0.87
TAHFX	0.16	0.01	0.20	0.40	0.09	(0.21)	0.49	(0.25)	1.24
VRHYX	0.16	0.02	0.16	0.15	0.06	(0.33)	0.26	(0.26)	1.30

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