American Funds Correlations

CPGAX Fund

USD 22.98 0.19 0.83%

The current 90-days correlation between American Funds Global and Ab Bond Inflation is 0.33 (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

Very weak diversification

The correlation between American Funds Global and DJI is 0.44 (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 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

0.91	FNFPX	American Funds New	Pair Corr
0.91	FFPNX	American Funds New	Pair Corr
0.92	NPFCX	New Perspective	Pair Corr
0.91	ANWPX	New Perspective	Pair Corr
0.91	NPFFX	New Perspective	Pair Corr
0.91	CNPAX	New Perspective	Pair Corr
0.92	CNPEX	New Perspective	Pair Corr
0.91	CNPFX	New Perspective	Pair Corr
0.92	CNPCX	New Perspective	Pair Corr
0.92	RNPAX	New Perspective	Pair Corr
0.66	BRUFX	Bruce Fund Bruce	Pair Corr
0.73	SPGSX	State Street Premier	Pair Corr

Moving against American Mutual Fund

0.45	RYMEX	Commodities Strategy	Pair Corr
0.45	RYMJX	Commodities Strategy	Pair Corr
0.4	RYMBX	Commodities Strategy	Pair Corr
0.32	DFFGX	Dfa Short Term	Pair Corr
0.31	DULTX	Delaware Investments	Pair Corr

Related Correlations Analysis

	ABNYX	IBRIX	TIIHX	APISX	SLFYX
ABNYX		0.95	1.0	0.95	0.87	ABNYX
IBRIX	0.95		0.96	0.82	0.73	IBRIX
TIIHX	1.0	0.96		0.95	0.86	TIIHX
APISX	0.95	0.82	0.95		0.95	APISX
SLFYX	0.87	0.73	0.86	0.95		SLFYX
	ABNYX	IBRIX	TIIHX	APISX	SLFYX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ABNYX	0.15	0.03	0.25	0.48	0.00	(0.19)	0.29	(0.29)	0.87
IBRIX	0.20	0.03	0.18	0.32	0.10	(0.25)	0.44	(0.33)	1.21
TIIHX	0.15	0.03	0.27	0.40	0.00	(0.19)	0.29	(0.29)	0.95
APISX	0.10	0.03	0.33	0.65	0.00	(0.14)	0.19	(0.10)	0.58
SLFYX	0.19	0.03	0.23	3.76	0.00	(0.27)	0.39	(0.38)	1.02

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