American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Capital
FCWGX Fund  USD 65.14  0.54  0.84%   
The current 90-days correlation between American Funds Capital and Cornercap Small Cap Value is 0.15 (i.e., Average 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

Poor diversification

The correlation between American Funds Capital and DJI is 0.72 (i.e., Poor 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

  0.71AMECX Income FundPairCorr
  0.95AMFCX American MutualPairCorr
  0.84AMFFX American MutualPairCorr
  0.77RNCCX American Funds IncomePairCorr
  0.65AMEFX Income FundPairCorr
  0.76RNGHX New Economy FundPairCorr
  0.75RNGBX New Economy FundPairCorr
  0.75RNGEX New Economy FundPairCorr
  0.77FPTPX American Funds ConsePairCorr
  0.67AMPFX Amcap Fund ClassPairCorr
  0.85RNPBX New PerspectivePairCorr
  0.85RNPAX New PerspectivePairCorr
  0.87RNPHX New PerspectivePairCorr
  0.87RNPGX New PerspectivePairCorr
  0.87RNPFX New PerspectivePairCorr
  0.87RNPEX New PerspectivePairCorr
  0.94AMRMX American MutualPairCorr
  0.72RNRPX American Funds RetirementPairCorr
  0.78RNWEX New World FundPairCorr
  0.78RNWGX New World FundPairCorr
  0.79RNWBX New World FundPairCorr
  0.79RNWAX New World FundPairCorr
  0.78RNWCX New World FundPairCorr
  0.75ANCFX American Funds FundaPairCorr
  0.75ANEFX New Economy FundPairCorr
  0.75ANFFX New Economy FundPairCorr
  0.87NPFFX New PerspectivePairCorr
  0.71PGGFX American Funds GlobalPairCorr
  0.69ANWPX New PerspectivePairCorr
  0.88BALFX American BalancedPairCorr

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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