American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Lege
CENAX Fund  USD 9.62  0.01  0.10%   
The current 90-days correlation between American Funds Lege and Income Fund Of is -0.1 (i.e., Good 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 weak diversification

The correlation between American Funds Lege and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Lege 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 Lege. 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 nation.

Moving together with American Mutual Fund

  0.91AMECX Income FundPairCorr
  0.91RNEBX New World FundPairCorr
  0.92AMFCX American MutualPairCorr
  0.92AMFFX American MutualPairCorr
  0.96RNCCX American Funds IncomePairCorr
  0.92FPPPX American Funds PresePairCorr
  0.93AMEFX Income FundPairCorr
  0.93RNGGX New Economy FundPairCorr
  0.93RNGFX New Economy FundPairCorr
  0.93RNGHX New Economy FundPairCorr
  0.93RNGBX New Economy FundPairCorr
  0.93RNGAX New Economy FundPairCorr
  0.93RNGEX New Economy FundPairCorr
  0.93RNGCX New Economy FundPairCorr
  0.76AMHIX American High IncomePairCorr
  0.67TEBCX Tax Exempt BondPairCorr
  0.75TEAFX Tax Exempt BondPairCorr
  0.94FPTPX American Funds ConsePairCorr
  0.93RNNEX New Economy FundPairCorr
  0.92CDJAX American Funds CollegePairCorr
  0.92AMPCX Amcap Fund ClassPairCorr
  0.92AMPFX Amcap Fund ClassPairCorr
  0.9RNPBX New PerspectivePairCorr
  0.9RNPAX New PerspectivePairCorr
  0.9RNPHX New PerspectivePairCorr
  0.9RNPGX New PerspectivePairCorr
  0.9RNPCX New PerspectivePairCorr
  0.9RNPFX New PerspectivePairCorr
  0.9RNPEX New PerspectivePairCorr
  0.91AMRMX American MutualPairCorr
  0.93AMRFX American MutualPairCorr
  0.96RNRPX American Funds RetirementPairCorr
  0.63AMUSX Us Government SecuritiesPairCorr
  0.95TEPCX American Funds TaxPairCorr
  0.95TEPAX American Funds TaxPairCorr
  0.97TEPFX American Funds TaxPairCorr
  0.91RNWFX 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMECX  0.33  0.14  0.00 (1.76) 0.01 
(0.36)
 0.94 
(0.56)
 2.22 
RNEBX  0.47  0.26  0.21 (7.69) 0.00 
(0.55)
 1.87 
(0.87)
 3.41 
AMFCX  0.51  0.18  0.06 (2.44) 0.45 
(0.61)
 1.52 
(0.83)
 3.61 
AMFFX  0.51  0.18  0.06 (2.52) 0.45 
(0.62)
 1.52 
(0.84)
 3.62 
RNCCX  0.27  0.06 (0.05) 0.31  0.00 
(0.33)
 0.85 
(0.50)
 1.83 
FPPPX  0.13  0.01 (0.58)(0.41) 0.07 
(0.14)
 0.21 
(0.32)
 0.64 
AMEFX  0.33  0.15  0.03 (1.86) 0.00 
(0.39)
 0.94 
(0.53)
 2.24 
RNGGX  0.68  0.32  0.18 (3.79) 0.45 
(0.78)
 2.23 
(1.36)
 5.17 
RNGFX  0.68  0.18  0.17  0.33  0.48 
(0.77)
 2.24 
(1.36)
 5.16 
RNGHX  0.68  0.32  0.18 (3.87) 0.45 
(0.76)
 2.25 
(1.35)
 5.17 

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