American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds 2020
CCCTX Fund  USD 14.16  0.01  0.07%   
The current 90-days correlation between American Funds 2020 and Income Fund Of is 0.89 (i.e., Very 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

Very poor diversification

The correlation between American Funds 2020 and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds 2020 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 Funds 2020. 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

  0.99AMECX Income FundPairCorr
  0.98RNEBX New World FundPairCorr
  0.99AMFCX American MutualPairCorr
  0.99AMFFX American MutualPairCorr
  1.0RNCCX American Funds IncomePairCorr
  0.8FPPPX American Funds PresePairCorr
  0.99AMEFX Income FundPairCorr
  0.99RNGGX New Economy FundPairCorr
  0.99RNGFX New Economy FundPairCorr
  0.99RNGHX New Economy FundPairCorr
  0.68RNGBX New Economy FundPairCorr
  0.68RNGAX New Economy FundPairCorr
  0.68RNGEX New Economy FundPairCorr
  0.68RNGCX New Economy FundPairCorr
  0.79AMHIX American High IncomePairCorr
  0.65TEBCX Tax Exempt BondPairCorr
  0.74TEAFX Tax Exempt BondPairCorr
  1.0FPTPX American Funds ConsePairCorr
  0.68CDJAX American Funds CollegePairCorr
  0.66AMPCX Amcap Fund ClassPairCorr
  0.99AMPFX Amcap Fund ClassPairCorr
  0.68RNPBX New PerspectivePairCorr
  0.98RNPAX New PerspectivePairCorr
  0.98RNPHX New PerspectivePairCorr
  0.98RNPGX New PerspectivePairCorr
  0.68RNPCX New PerspectivePairCorr
  0.68RNPFX New PerspectivePairCorr
  0.68RNPEX New PerspectivePairCorr
  0.99AMRMX American MutualPairCorr
  0.99AMRFX American MutualPairCorr
  0.7TEPCX American Funds TaxPairCorr
  0.99TEPFX American Funds TaxPairCorr
  0.69RNWEX New World FundPairCorr
  0.69RNWHX New World FundPairCorr
  0.98RNWGX New World FundPairCorr
  0.69RNWBX 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 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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