American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds 2040
CCGTX Fund  USD 22.02  0.01  0.05%   
The current 90-days correlation between American Funds 2040 and American Funds 2035 is 0.91 (i.e., Almost no 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

Almost no diversification

The correlation between American Funds 2040 and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds 2040 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 2040. 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

  0.69AMECX Income FundPairCorr
  0.77RNEBX New World FundPairCorr
  1.0AMFCX American MutualPairCorr
  1.0AMFFX American MutualPairCorr
  1.0RNCCX American Funds IncomePairCorr
  0.73FPPPX American Funds PresePairCorr
  0.69AMEFX Income FundPairCorr
  0.76RNGGX New Economy FundPairCorr
  0.76RNGFX New Economy FundPairCorr
  0.68RNGHX New Economy FundPairCorr
  0.76RNGBX New Economy FundPairCorr
  0.76RNGAX New Economy FundPairCorr
  0.76RNGEX New Economy FundPairCorr
  0.76RNGCX New Economy FundPairCorr
  0.77AMHIX American High IncomePairCorr
  0.62TEBCX Tax Exempt BondPairCorr
  0.64TEAFX Tax Exempt BondPairCorr
  0.99FPTPX American Funds ConsePairCorr
  1.0RNNEX New Economy FundPairCorr
  0.76CDJAX American Funds CollegePairCorr
  0.75AMPCX Amcap Fund ClassPairCorr
  0.75AMPFX Amcap Fund ClassPairCorr
  0.77RNPBX New PerspectivePairCorr
  0.77RNPAX New PerspectivePairCorr
  0.76RNPHX New PerspectivePairCorr
  0.69RNPGX New PerspectivePairCorr
  0.76RNPCX New PerspectivePairCorr
  0.76RNPFX New PerspectivePairCorr
  0.76RNPEX New PerspectivePairCorr
  0.68AMRMX American MutualPairCorr
  0.68AMRFX American MutualPairCorr
  0.99RNRPX American Funds RetirementPairCorr
  0.76TEPCX American Funds TaxPairCorr
  0.97TEPAX American Funds TaxPairCorr
  0.67TEPFX American Funds TaxPairCorr
  0.77RNWFX 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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