American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Smallcap
FSWFX Fund  USD 65.90  0.13  0.20%   
The current 90-days correlation between American Funds Smallcap and International Investors Gold is 0.49 (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

Poor diversification

The correlation between American Funds Smallcap and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Smallcap 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 Smallcap. 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

  0.87RNGGX New Economy FundPairCorr
  0.88RNGFX New Economy FundPairCorr
  0.97RNGHX New Economy FundPairCorr
  0.89RNGBX New Economy FundPairCorr
  0.89RNGAX New Economy FundPairCorr
  0.89RNGEX New Economy FundPairCorr
  0.97RNGCX New Economy FundPairCorr
  0.97RNNEX New Economy FundPairCorr
  0.86CDJAX American Funds CollegePairCorr
  0.97AMPCX Amcap Fund ClassPairCorr
  0.97AMPFX Amcap Fund ClassPairCorr
  0.79RNPBX New PerspectivePairCorr
  0.68RNPAX New PerspectivePairCorr
  0.66RNPHX New PerspectivePairCorr
  0.77RNPGX New PerspectivePairCorr
  0.78RNPCX New PerspectivePairCorr
  0.66RNPFX New PerspectivePairCorr
  0.78RNPEX New PerspectivePairCorr

Moving against American Mutual Fund

  0.52FPPPX American Funds PresePairCorr
  0.71CEAMX Short Term BondPairCorr
  0.68SBFFX Short Term BondPairCorr
  0.66ANBGX American Funds StrategicPairCorr
  0.66ANBAX American Funds StrategicPairCorr
  0.65ANBEX American Funds StrategicPairCorr
  0.65ANBFX American Funds StrategicPairCorr
  0.65ANBCX American Funds StrategicPairCorr
  0.56AMUSX Us Government SecuritiesPairCorr
  0.44TEPAX American Funds TaxPairCorr

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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