American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Global
PGGFX Fund  USD 22.89  0.29  1.28%   
The current 90-days correlation between American Funds Global and American Funds Growth is 0.98 (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 Global and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Global and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in American Funds Global. 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

  0.88RNGBX New Economy FundPairCorr
  0.89RNPGX New PerspectivePairCorr
  0.88ANFFX New Economy FundPairCorr
  0.89NPFFX New PerspectivePairCorr
  0.96FAITX American Funds 2050PairCorr
  0.96GWPEX American Funds GrowthPairCorr
  0.9CGFFX Growth FundPairCorr
  0.96CGRGX American Funds GrowthPairCorr
  0.77GGPCX American Funds GlobalPairCorr
  0.97FCJTX American Funds 2055PairCorr
  0.97FCKTX American Funds 2060PairCorr
  0.92RAFTX American Funds 2035PairCorr
  0.9RAFGX Amcap Fund ClassPairCorr
  0.96RAHTX American Funds 2045PairCorr
  0.74RAMHX American BalancedPairCorr
  0.88RSLBX Smallcap WorldPairCorr

Moving against American Mutual Fund

  0.5CFAMX Short Term BondPairCorr
  0.45FPPPX American Funds PresePairCorr
  0.4AMUSX Us Government SecuritiesPairCorr
  0.33ANBGX American Funds StrategicPairCorr
  0.41CGTAX Us Government SecuritiesPairCorr
  0.4CGTCX Us Government SecuritiesPairCorr
  0.34FBOFX American FundsPairCorr
  0.44IBFCX Intermediate BondPairCorr
  0.33RBFCX Bond FundPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
BLPFX
+ 0.91
GAIFX
GAIFX
+ 0.89
GWPFX
INPFX
+ 0.82
BLPFX
PPVFX
+ 0.66
INPFX
BLPFX
+ 0.63
GWPFX
INPFX
+ 0.55
GAIFX
  
High negative correlations   
PPVFX
- 0.64
GWPFX
PPVFX
- 0.24
GAIFX

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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