American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds American
FBAFX Fund  USD 35.69  0.03  0.08%   
The current 90-days correlation between American Funds American and Ab Bond Inflation 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

Weak diversification

The correlation between American Funds American and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds American and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in American Funds American. 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 census.

Moving together with American Mutual Fund

  0.94AMECX Income FundPairCorr
  0.89RNEBX New World FundPairCorr
  0.96AMFCX American MutualPairCorr
  0.96AMFFX American MutualPairCorr
  0.83RNCCX American Funds IncomePairCorr
  0.94AMEFX Income FundPairCorr
  0.95RNGGX New Economy FundPairCorr
  0.95RNGFX New Economy FundPairCorr
  0.95RNGHX New Economy FundPairCorr
  0.91RNGBX New Economy FundPairCorr
  0.91RNGAX New Economy FundPairCorr
  0.93RNGEX New Economy FundPairCorr
  0.92RNGCX New Economy FundPairCorr
  0.84AMHIX American High IncomePairCorr
  0.84TEBCX Tax Exempt BondPairCorr
  0.79TECCX Tax Exempt FundPairCorr
  0.83TEAFX Tax Exempt BondPairCorr
  0.82FPTPX American Funds ConsePairCorr
  0.81TECFX Tax Exempt FundPairCorr
  0.81TEFEX Tax Exempt FundPairCorr
  0.92RNNEX New Economy FundPairCorr
  0.81CDJAX American Funds CollegePairCorr
  0.91AMPCX Amcap Fund ClassPairCorr
  0.93AMPFX Amcap Fund ClassPairCorr
  0.91RNPBX New PerspectivePairCorr
  0.91RNPAX New PerspectivePairCorr
  0.9RNPHX New PerspectivePairCorr
  0.9RNPGX New PerspectivePairCorr
  0.91RNPCX New PerspectivePairCorr
  0.9RNPFX New PerspectivePairCorr
  0.91RNPEX New PerspectivePairCorr
  0.96AMRMX American MutualPairCorr
  0.92AMRFX American MutualPairCorr
  0.61RNRPX American Funds RetirementPairCorr
  0.79AMUSX Us Government SecuritiesPairCorr
  0.77TEPCX American Funds TaxPairCorr
  0.71TEPFX American Funds TaxPairCorr
  0.92RNWFX New World FundPairCorr
  0.92RNWEX New World 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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