American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Income
INPFX Fund  USD 13.76  0.01  0.07%   
The current 90-days correlation between American Funds Income and American Funds Growth 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

Poor diversification

The correlation between American Funds Income 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 Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in American Funds Income. 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

  0.9AMECX Income FundPairCorr
  0.68RNEBX New World FundPairCorr
  0.86AMFCX American MutualPairCorr
  0.85AMFFX American MutualPairCorr
  1.0RNCCX American Funds IncomePairCorr
  0.9AMEFX Income FundPairCorr
  0.73RNGGX New Economy FundPairCorr
  0.73RNGFX New Economy FundPairCorr
  0.73RNGHX New Economy FundPairCorr
  0.74RNGBX New Economy FundPairCorr
  0.74RNGAX New Economy FundPairCorr
  0.73RNGEX New Economy FundPairCorr
  0.74RNGCX New Economy FundPairCorr
  1.0FPTPX American Funds ConsePairCorr
  0.74RNNEX New Economy FundPairCorr
  0.87CDJAX American Funds CollegePairCorr
  0.75AMPCX Amcap Fund ClassPairCorr
  0.74AMPFX Amcap Fund ClassPairCorr
  0.89RNPBX New PerspectivePairCorr
  0.89RNPAX New PerspectivePairCorr
  0.88RNPHX New PerspectivePairCorr
  0.88RNPGX New PerspectivePairCorr
  0.89RNPCX New PerspectivePairCorr
  0.88RNPFX New PerspectivePairCorr
  0.89RNPEX New PerspectivePairCorr
  0.85AMRMX American MutualPairCorr
  0.85AMRFX American MutualPairCorr
  0.98RNRPX American Funds RetirementPairCorr
  0.69RNWFX 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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