American Funds Correlations

Mutual Funds USA . 
Fund . American Funds Capital
FBCIX Fund  USD 76.80  0.01  0.01%   
The current 90-days correlation between American Funds Capital and Income Fund Of is 0.96 (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

Good diversification

The correlation between American Funds Capital and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Capital and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in American Funds Capital. 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 gross domestic product.

Moving together with American Mutual Fund

  1.0AMECX Income FundPairCorr
  0.99RNEBX New World FundPairCorr
  0.99AMFCX American MutualPairCorr
  0.99AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.75FPPPX American Funds PresePairCorr
  1.0AMEFX Income FundPairCorr
  0.99RNGGX New Economy FundPairCorr
  0.98RNGFX New Economy FundPairCorr
  0.99RNGHX New Economy FundPairCorr
  0.98RNGBX New Economy FundPairCorr
  0.99RNGAX New Economy FundPairCorr
  0.98RNGEX New Economy FundPairCorr
  0.99RNGCX New Economy FundPairCorr
  0.82AMHIX American High IncomePairCorr
  0.62TEBCX Tax Exempt BondPairCorr
  0.72TEAFX Tax Exempt BondPairCorr
  1.0FPTPX American Funds ConsePairCorr
  0.98RNNEX New Economy FundPairCorr
  0.99CDJAX American Funds CollegePairCorr
  0.97AMPCX Amcap Fund ClassPairCorr
  0.97AMPFX Amcap Fund ClassPairCorr
  0.98RNPBX New PerspectivePairCorr
  0.98RNPAX New PerspectivePairCorr
  0.98RNPHX New PerspectivePairCorr
  0.98RNPGX New PerspectivePairCorr
  0.98RNPCX New PerspectivePairCorr
  0.98RNPFX New PerspectivePairCorr
  0.98RNPEX New PerspectivePairCorr
  0.99AMRMX American MutualPairCorr
  0.98AMRFX American MutualPairCorr
  0.99RNRPX American Funds RetirementPairCorr
  0.98TEPCX American Funds TaxPairCorr
  0.98TEPAX American Funds TaxPairCorr
  0.98TEPFX American Funds TaxPairCorr
  0.98RNWFX 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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