Amcap Fund Correlations

Mutual Funds . USA . 
Fund . Amcap Fund Class
CAFFX Fund  USD 45.15  0.43  0.96%   
The current 90-days correlation between Amcap Fund Class and Jpmorgan Smartretirement 2035 is 0.93 (i.e., Almost no diversification). The correlation of Amcap Fund 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.

Amcap Fund Correlation With Market

Very poor diversification

The correlation between Amcap Fund Class and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amcap Fund Class 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 Amcap Fund Class. 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 Amcap Mutual Fund

  0.98AMFFX American MutualPairCorr
  1.0RNGFX New Economy FundPairCorr
  0.98FPTPX American Funds ConsePairCorr
  0.99RNPGX New PerspectivePairCorr
  0.97TEPFX American Funds TaxPairCorr
  0.97FAFWX American Funds RetirementPairCorr
  1.0FAFGX American FundsPairCorr
  0.94FAX Aberdeen Asia PacificPairCorr
  0.99FAOTX American Funds 2020PairCorr
  0.99GWPAX American Funds GrowthPairCorr
  1.0GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  0.99INPFX American Funds IncomePairCorr
  0.99FBFWX American Funds RetirementPairCorr
  0.99CGFEX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  1.0CGFCX Growth FundPairCorr
  0.99CGFAX Growth FundPairCorr
  0.98RRCTX American Funds 2020PairCorr
  0.98RRPPX American Funds RetirementPairCorr
  0.99RSLBX Smallcap WorldPairCorr
  0.98CIPFX American Funds IncomePairCorr
  0.98CIPCX American Funds IncomePairCorr
  0.69ABHFX American High IncomePairCorr
  1.0FFAFX American FundsPairCorr
  0.61IBFFX Intermediate BondPairCorr
  0.98REREX Europacific GrowthPairCorr
  0.98CMLFX American MutualPairCorr
  0.98RFETX American Funds 2030PairCorr
  0.99RFGTX American Funds 2040PairCorr
  1.0RFFTX American Funds 2035PairCorr
  1.0RFITX American Funds 2050PairCorr
  0.99RFHTX American Funds 2045PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Amcap Mutual Fund performing well and Amcap Fund 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 Amcap Fund'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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