American Balanced Correlations

Mutual Funds . USA . 
Fund . American Balanced
ABALX Fund  USD 36.96  0.12  0.33%   
The current 90-days correlation between American Balanced and Income Fund Of is 0.93 (i.e., Almost no diversification). The correlation of American Balanced 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 Balanced Correlation With Market

Very good diversification

The correlation between American Balanced and DJI is -0.32 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Balanced and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Balanced. 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 bureau of economic analysis.

Moving together with American Mutual Fund

  0.98AMECX Income FundPairCorr
  1.0AMFCX American MutualPairCorr
  1.0AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.75FPPPX American Funds PresePairCorr
  0.97RNGHX New Economy FundPairCorr
  1.0RNGAX New Economy FundPairCorr
  0.97RNGEX New Economy FundPairCorr
  0.78TEAFX Tax Exempt BondPairCorr
  0.99FPTPX American Funds ConsePairCorr
  0.69TEFEX Tax Exempt FundPairCorr
  1.0CDJAX American Funds CollegePairCorr
  0.97AMPCX Amcap Fund ClassPairCorr
  0.97AMPFX Amcap Fund ClassPairCorr
  0.97RNPBX New PerspectivePairCorr
  0.97RNPAX New PerspectivePairCorr
  0.99RNPHX New PerspectivePairCorr
  0.97RNPGX New PerspectivePairCorr
  0.97RNPFX New PerspectivePairCorr
  1.0AMRMX American MutualPairCorr
  0.97AMRFX American MutualPairCorr
  0.98RNRPX American Funds RetirementPairCorr
  0.88TEPAX American Funds TaxPairCorr
  0.88TEPFX American Funds TaxPairCorr
  0.97RNWEX New World FundPairCorr
  0.97RNWGX New World FundPairCorr
  0.98CDWFX American Funds DevelopingPairCorr
  0.99ANCFX American Funds FundaPairCorr
  0.97ANFCX New Economy FundPairCorr
  1.0ANEFX New Economy FundPairCorr
  0.97ANFFX New Economy FundPairCorr
  0.74CEAMX Short Term BondPairCorr
  0.97NPFCX New PerspectivePairCorr
  0.97NPFFX New PerspectivePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American Balanced 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 Balanced's 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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