American High Correlations

Mutual Funds . USA . 
Fund . American High Income
AHITX Fund  USD 9.84  0.02  0.20%   
The current 90-days correlation between American High Income and Ab High Income is 0.17 (i.e., Average diversification). The correlation of American High 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 High Correlation With Market

Modest diversification

The correlation between American High Income and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American High Income 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 High 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 estimate.

Moving together with American Mutual Fund

  0.93RNEBX New World FundPairCorr
  0.64AMFCX American MutualPairCorr
  0.65AMFFX American MutualPairCorr
  0.64RNCCX American Funds IncomePairCorr
  0.64FPPPX American Funds PresePairCorr
  0.82AMEFX Income FundPairCorr
  0.95RNGGX New Economy FundPairCorr
  0.95RNGFX New Economy FundPairCorr
  0.83RNGHX New Economy FundPairCorr
  0.95RNGBX New Economy FundPairCorr
  0.95RNGAX New Economy FundPairCorr
  0.95RNGEX New Economy FundPairCorr
  0.95RNGCX New Economy FundPairCorr
  0.66TEAFX Tax Exempt BondPairCorr
  0.64FPTPX American Funds ConsePairCorr
  0.64RNNEX New Economy FundPairCorr
  0.95CDJAX American Funds CollegePairCorr
  0.95AMPCX Amcap Fund ClassPairCorr
  0.81AMPFX Amcap Fund ClassPairCorr
  0.92RNPBX New PerspectivePairCorr
  0.92RNPAX New PerspectivePairCorr
  0.92RNPHX New PerspectivePairCorr
  0.78RNPGX New PerspectivePairCorr
  0.92RNPCX New PerspectivePairCorr
  0.92RNPFX New PerspectivePairCorr
  0.92RNPEX New PerspectivePairCorr
  0.81AMRMX American MutualPairCorr
  0.82AMRFX American MutualPairCorr
  0.64RNRPX American Funds RetirementPairCorr
  0.97TEPCX American Funds TaxPairCorr
  0.67TEPAX American Funds TaxPairCorr
  0.68TEPFX American Funds TaxPairCorr
  0.93RNWFX 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 High 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 High'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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