American High Correlations

Mutual Funds . USA . 
Fund . American High Income
AHTCX Fund  USD 9.70  0.02  0.21%   
The current 90-days correlation between American High Income and The Hartford Inflation is -0.03 (i.e., Good 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

Poor diversification

The correlation between American High Income and DJI is 0.72 (i.e., Poor 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 main economic indicators.

Moving together with American Mutual Fund

  0.93AMECX Income FundPairCorr
  0.85RNEBX New World FundPairCorr
  0.88AMFCX American MutualPairCorr
  0.88AMFFX American MutualPairCorr
  0.97RNCCX American Funds IncomePairCorr
  0.9AMEFX Income FundPairCorr
  0.83RNGGX New Economy FundPairCorr
  0.84RNGFX New Economy FundPairCorr
  0.84RNGHX New Economy FundPairCorr
  0.83RNGBX New Economy FundPairCorr
  0.83RNGAX New Economy FundPairCorr
  0.84RNGEX New Economy FundPairCorr
  0.84RNGCX New Economy FundPairCorr
  0.7AMHIX American High IncomePairCorr
  0.62TEBCX Tax Exempt BondPairCorr
  0.71TECCX Tax Exempt FundPairCorr
  0.62TEAFX Tax Exempt BondPairCorr
  0.96FPTPX American Funds ConsePairCorr
  0.63TECFX Tax Exempt FundPairCorr
  0.72TEFEX Tax Exempt FundPairCorr
  0.84RNNEX New Economy FundPairCorr
  0.83AMPFX Amcap Fund ClassPairCorr
  0.89RNPBX New PerspectivePairCorr
  0.89RNPAX New PerspectivePairCorr
  0.89RNPHX New PerspectivePairCorr
  0.89RNPGX New PerspectivePairCorr
  0.89RNPFX New PerspectivePairCorr
  0.89RNPEX New PerspectivePairCorr
  0.92AMRMX American MutualPairCorr
  0.92AMRFX American MutualPairCorr
  0.7TEPAX American Funds TaxPairCorr
  0.75TEPFX American Funds TaxPairCorr
  0.84RNWFX New World FundPairCorr
  0.84RNWEX New World FundPairCorr
  0.84RNWHX New World FundPairCorr
  0.84RNWGX New World FundPairCorr
  0.85RNWBX New World FundPairCorr

Moving against American Mutual Fund

  0.47FPPPX American Funds PresePairCorr
  0.31AMUSX Us Government SecuritiesPairCorr
  0.37ANBFX American Funds StrategicPairCorr
  0.36ANBEX American Funds StrategicPairCorr
  0.36ANBAX American Funds StrategicPairCorr
  0.33ANBCX American Funds StrategicPairCorr

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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