American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Global
RGGFX Fund  USD 23.09  0.29  1.27%   
The current 90-days correlation between American Funds Global and T Rowe Price is 0.73 (i.e., 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 Global and DJI is 0.63 (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

  0.63AMFCX American MutualPairCorr
  0.62AMFFX American MutualPairCorr
  0.87RNGBX New Economy FundPairCorr
  0.9RNPGX New PerspectivePairCorr
  0.88ANFFX New Economy FundPairCorr
  0.9NPFFX New PerspectivePairCorr
  0.97FAITX American Funds 2050PairCorr
  0.96GWPEX American Funds GrowthPairCorr
  0.9CGFFX Growth FundPairCorr
  0.96CGRGX American Funds GrowthPairCorr
  1.0GGPCX American Funds GlobalPairCorr
  0.97FCJTX American Funds 2055PairCorr
  0.97FCKTX American Funds 2060PairCorr
  0.93RAFTX American Funds 2035PairCorr
  0.9RAFGX Amcap Fund ClassPairCorr
  0.97RAHTX American Funds 2045PairCorr
  0.8RAMHX American BalancedPairCorr
  0.88RSLBX Smallcap WorldPairCorr

Moving against American Mutual Fund

  0.5CFAMX Short Term BondPairCorr
  0.45FPPPX American Funds PresePairCorr
  0.39AMUSX Us Government SecuritiesPairCorr
  0.32ANBGX American Funds StrategicPairCorr
  0.47RAMFX Short Term BondPairCorr
  0.39CGTCX Us Government SecuritiesPairCorr
  0.39CGTAX Us Government SecuritiesPairCorr
  0.33FBOFX American FundsPairCorr
  0.43IBFCX Intermediate BondPairCorr
  0.31RBFCX 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   
IAADX
+ 0.94
RTIUX
OPTCX
+ 0.77
RTIUX
RTIUX
+ 0.73
FBJYGX
IAADX
+ 0.73
FBJYGX
OPTCX
+ 0.7
IAADX
IAADX
+ 0.45
FZDAQX
  
High negative correlations   
OPTCX
- 0.06
FVKVWX

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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