American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Capital
FCWGX Fund  USD 65.25  1.02  1.54%   
The current 90-days correlation between American Funds Capital and Income Fund Of is 0.53 (i.e., Very 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 Capital and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Capital 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 Capital. 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 price.

Moving together with American Mutual Fund

  0.85AMECX Income FundPairCorr
  0.93RNEBX New World FundPairCorr
  0.87AMFCX American MutualPairCorr
  0.79AMFFX American MutualPairCorr
  0.79RNCCX American Funds IncomePairCorr
  0.76AMEFX Income FundPairCorr
  0.96RNGGX New Economy FundPairCorr
  0.87RNGFX New Economy FundPairCorr
  0.87RNGHX New Economy FundPairCorr
  0.95RNGBX New Economy FundPairCorr
  0.95RNGAX New Economy FundPairCorr
  0.87RNGEX New Economy FundPairCorr
  0.86RNGCX New Economy FundPairCorr
  0.83AMHIX American High IncomePairCorr
  0.82TEBCX Tax Exempt BondPairCorr
  0.81TECCX Tax Exempt FundPairCorr
  0.82TEAFX Tax Exempt BondPairCorr
  0.83FPTPX American Funds ConsePairCorr
  0.81TECFX Tax Exempt FundPairCorr
  0.8TEFEX Tax Exempt FundPairCorr
  0.86RNNEX New Economy FundPairCorr
  0.89CDJAX American Funds CollegePairCorr
  0.95AMPCX Amcap Fund ClassPairCorr
  0.96AMPFX Amcap Fund ClassPairCorr
  0.95RNPBX New PerspectivePairCorr
  0.93RNPAX New PerspectivePairCorr
  0.93RNPHX New PerspectivePairCorr
  0.93RNPGX New PerspectivePairCorr
  0.92RNPCX New PerspectivePairCorr
  0.95RNPFX New PerspectivePairCorr
  0.95RNPEX New PerspectivePairCorr
  0.86AMRMX American MutualPairCorr
  0.97AMRFX American MutualPairCorr
  0.64RNRPX American Funds RetirementPairCorr
  0.77AMUSX Us Government SecuritiesPairCorr
  0.71TEPCX American Funds TaxPairCorr
  0.69TEPAX American Funds TaxPairCorr
  0.69TEPFX American Funds TaxPairCorr
  0.95RNWFX 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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