American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Smallcap
FSWFX Fund  USD 67.28  0.04  0.06%   
The current 90-days correlation between American Funds Smallcap and Vanguard Target Retirement is 0.91 (i.e., Almost no 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 Smallcap and DJI is -0.04 (i.e., Good 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

  0.85RNEBX New World FundPairCorr
  0.7AMEFX Income FundPairCorr
  0.94RNGGX New Economy FundPairCorr
  0.94RNGFX New Economy FundPairCorr
  0.94RNGHX New Economy FundPairCorr
  0.83RNGBX New Economy FundPairCorr
  0.93RNGAX New Economy FundPairCorr
  0.94RNGEX New Economy FundPairCorr
  0.94RNGCX New Economy FundPairCorr
  0.79AMHIX American High IncomePairCorr
  0.79TEBCX Tax Exempt BondPairCorr
  0.78TECCX Tax Exempt FundPairCorr
  0.77TEAFX Tax Exempt BondPairCorr
  0.77TECFX Tax Exempt FundPairCorr
  0.76TEFEX Tax Exempt FundPairCorr
  0.84RNNEX New Economy FundPairCorr
  0.84CDJAX American Funds CollegePairCorr
  0.94AMPCX Amcap Fund ClassPairCorr
  0.85AMPFX Amcap Fund ClassPairCorr
  0.86RNPBX New PerspectivePairCorr
  0.86RNPAX New PerspectivePairCorr
  0.87RNPHX New PerspectivePairCorr
  0.87RNPGX New PerspectivePairCorr
  0.76RNPCX New PerspectivePairCorr
  0.87RNPFX New PerspectivePairCorr
  0.85RNPEX New PerspectivePairCorr
  0.86AMRMX American MutualPairCorr
  0.85AMRFX American MutualPairCorr
  0.73AMUSX Us Government SecuritiesPairCorr
  0.82RNWFX 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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