American Funds Correlations

RBJTX Fund

USD 12.77 0.02 0.16%

The current 90-days correlation between American Funds 2015 and Income Fund Of is 0.86 (i.e., Very poor 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 2015 and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds 2015 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 2015. 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 estimate.

Moving together with American Mutual Fund

0.93	RNCCX	American Funds Income	Pair Corr
0.67	FPPPX	American Funds Prese	Pair Corr
0.65	AMHIX	American High Income	Pair Corr
0.66	TEBCX	Tax Exempt Bond	Pair Corr
0.68	TECCX	Tax Exempt Fund	Pair Corr
0.65	TEAFX	Tax Exempt Bond	Pair Corr
0.76	FPTPX	American Funds Conse	Pair Corr
0.67	TECFX	Tax Exempt Fund	Pair Corr
0.66	TEFEX	Tax Exempt Fund	Pair Corr
0.67	TEPCX	American Funds Tax	Pair Corr
0.68	TEPAX	American Funds Tax	Pair Corr
0.68	TEPFX	American Funds Tax	Pair Corr

Related Correlations Analysis

	AMECX	RNEBX	AMFCX	AMFFX	RNCCX	FPPPX	AMEFX	RNGGX	RNGFX	RNGHX
AMECX		0.07	0.85	0.85	0.79	-0.22	1.0	0.71	0.77	0.71	AMECX
RNEBX	0.07		0.02	0.0	0.31	0.39	0.06	-0.09	-0.12	-0.09	RNEBX
AMFCX	0.85	0.02		1.0	0.6	-0.33	0.85	0.78	0.7	0.78	AMFCX
AMFFX	0.85	0.0	1.0		0.59	-0.35	0.85	0.8	0.72	0.8	AMFFX
RNCCX	0.79	0.31	0.6	0.59		0.38	0.78	0.4	0.48	0.4	RNCCX
FPPPX	-0.22	0.39	-0.33	-0.35	0.38		-0.23	-0.47	-0.45	-0.46	FPPPX
AMEFX	1.0	0.06	0.85	0.85	0.78	-0.23		0.72	0.78	0.72	AMEFX
RNGGX	0.71	-0.09	0.78	0.8	0.4	-0.47	0.72		0.93	1.0	RNGGX
RNGFX	0.77	-0.12	0.7	0.72	0.48	-0.45	0.78	0.93		0.93	RNGFX
RNGHX	0.71	-0.09	0.78	0.8	0.4	-0.46	0.72	1.0	0.93		RNGHX
	AMECX	RNEBX	AMFCX	AMFFX	RNCCX	FPPPX	AMEFX	RNGGX	RNGFX	RNGHX

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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

AMEFX	+ 1.0	AMECX
AMFFX	+ 1.0	AMFCX
RNGHX	+ 1.0	RNGGX
RNGFX	+ 0.93	RNGGX
RNGHX	+ 0.93	RNGFX
AMFCX	+ 0.85	AMECX

High negative correlations

RNGGX	- 0.47	FPPPX
RNGHX	- 0.46	FPPPX
RNGFX	- 0.45	FPPPX
FPPPX	- 0.35	AMFFX
FPPPX	- 0.33	AMFCX
AMEFX	- 0.23	FPPPX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AMECX	0.30	(0.01)	(0.19)	0.06	0.28	(0.34)	0.66	(0.46)	1.81
RNEBX	0.51	0.04	(0.08)	(3.55)	0.63	(0.51)	1.04	(0.99)	3.78
AMFCX	0.42	0.02	(0.15)	0.26	0.36	(0.53)	0.84	(0.68)	2.68
AMFFX	0.42	0.02	(0.15)	0.29	0.35	(0.53)	0.83	(0.69)	2.68
RNCCX	0.23	(0.02)	(0.27)	0.03	0.23	(0.26)	0.52	(0.51)	1.32
FPPPX	0.11	(0.02)	0.00	(0.53)	0.00	0.00	0.21	(0.21)	0.74
AMEFX	0.31	(0.01)	(0.19)	0.06	0.28	(0.35)	0.66	(0.46)	1.81
RNGGX	0.61	0.12	0.04	1.09	0.66	(0.66)	1.38	(1.17)	4.00
RNGFX	0.61	0.05	0.04	0.16	0.68	(0.66)	1.39	(1.16)	4.01
RNGHX	0.61	0.12	0.04	1.08	0.68	(0.66)	1.40	(1.15)	4.01

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