American High Correlations

Mutual Funds USA . 
Fund . American High Income
CITEX Fund  USD 9.84  0.02  0.20%   
The current 90-days correlation between American High Income and Tax Managed International Equity is 0.34 (i.e., Weak 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

Very weak diversification

The correlation between American High Income and DJI is 0.57 (i.e., Very weak 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 income.

Moving together with American Mutual Fund

  0.95AMECX Income FundPairCorr
  0.95RNEBX New World FundPairCorr
  0.96AMFCX American MutualPairCorr
  0.96AMFFX American MutualPairCorr
  0.97RNCCX American Funds IncomePairCorr
  0.82FPPPX American Funds PresePairCorr
  0.96AMEFX Income FundPairCorr
  0.96RNGGX New Economy FundPairCorr
  0.96RNGFX New Economy FundPairCorr
  0.96RNGHX New Economy FundPairCorr
  0.96RNGBX New Economy FundPairCorr
  0.96RNGAX New Economy FundPairCorr
  0.96RNGEX New Economy FundPairCorr
  0.96RNGCX New Economy FundPairCorr
  0.81AMHIX American High IncomePairCorr
  0.71TEBCX Tax Exempt BondPairCorr
  0.79TEAFX Tax Exempt BondPairCorr
  0.97FPTPX American Funds ConsePairCorr
  0.63TEFEX Tax Exempt FundPairCorr
  0.96RNNEX New Economy FundPairCorr
  0.96CDJAX American Funds CollegePairCorr
  0.96AMPCX Amcap Fund ClassPairCorr
  0.96AMPFX Amcap Fund ClassPairCorr
  0.94RNPBX New PerspectivePairCorr
  0.94RNPAX New PerspectivePairCorr
  0.94RNPHX New PerspectivePairCorr
  0.94RNPGX New PerspectivePairCorr
  0.94RNPCX New PerspectivePairCorr
  0.94RNPFX New PerspectivePairCorr
  0.94RNPEX New PerspectivePairCorr
  0.96AMRMX American MutualPairCorr
  0.96AMRFX American MutualPairCorr
  0.97RNRPX American Funds RetirementPairCorr
  0.98TEPCX American Funds TaxPairCorr
  0.97TEPAX American Funds TaxPairCorr
  0.98TEPFX American Funds TaxPairCorr
  0.95RNWFX 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 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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