American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds American
FFMMX Fund  USD 57.83  0.03  0.05%   
The current 90-days correlation between American Funds American and Multisector Bond Sma is -0.03 (i.e., Good 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 American and DJI is 0.71 (i.e., Poor 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 population.

Moving together with American Mutual Fund

  0.93AMECX Income FundPairCorr
  0.84RNEBX New World FundPairCorr
  1.0AMFCX American MutualPairCorr
  1.0AMFFX American MutualPairCorr
  0.84RNCCX American Funds IncomePairCorr
  0.92AMEFX Income FundPairCorr
  0.83RNGGX New Economy FundPairCorr
  0.9RNGHX New Economy FundPairCorr
  0.89RNGAX New Economy FundPairCorr
  0.9RNGCX New Economy FundPairCorr
  0.79AMHIX American High IncomePairCorr
  0.8TEBCX Tax Exempt BondPairCorr
  0.78TECCX Tax Exempt FundPairCorr
  0.78TEAFX Tax Exempt BondPairCorr
  0.83FPTPX American Funds ConsePairCorr
  0.76TECFX Tax Exempt FundPairCorr
  0.76TEFEX Tax Exempt FundPairCorr
  0.9RNNEX New Economy FundPairCorr
  0.75CDJAX American Funds CollegePairCorr
  0.88AMPFX Amcap Fund ClassPairCorr
  0.83RNPAX New PerspectivePairCorr
  0.82RNPHX New PerspectivePairCorr
  0.81RNPGX New PerspectivePairCorr
  0.82RNPEX New PerspectivePairCorr
  1.0AMRMX American MutualPairCorr
  1.0AMRFX American MutualPairCorr
  0.72AMUSX Us Government SecuritiesPairCorr
  0.71TEPCX American Funds TaxPairCorr
  0.84RNWFX New World FundPairCorr
  0.84RNWHX New World FundPairCorr
  0.84RNWGX New World FundPairCorr
  0.84RNWBX New World FundPairCorr
  0.84RNWAX New World FundPairCorr
  0.84RNWCX New World FundPairCorr
  0.81ANBEX American Funds StrategicPairCorr

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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