American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Capital
FCWGX Fund  USD 71.69  0.17  0.24%   
The current 90-days correlation between American Funds Capital and Barings High Yield is 0.54 (i.e., Very weak 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 -0.08 (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 price.

Moving together with American Mutual Fund

  0.99RNEBX New World FundPairCorr
  0.99RNGGX New Economy FundPairCorr
  1.0RNGFX New Economy FundPairCorr
  0.99RNGBX New Economy FundPairCorr
  0.99RNGAX New Economy FundPairCorr
  1.0RNGEX New Economy FundPairCorr
  0.99RNGCX New Economy FundPairCorr
  0.64AMHIX American High IncomePairCorr
  0.66TEAFX Tax Exempt BondPairCorr
  1.0RNNEX New Economy FundPairCorr
  0.99CDJAX American Funds CollegePairCorr
  1.0AMPCX Amcap Fund ClassPairCorr
  0.62AMPFX Amcap Fund ClassPairCorr
  0.99RNPBX New PerspectivePairCorr
  0.99RNPAX New PerspectivePairCorr
  1.0RNPHX New PerspectivePairCorr
  1.0RNPGX New PerspectivePairCorr
  0.99RNPCX New PerspectivePairCorr
  1.0RNPFX New PerspectivePairCorr
  1.0RNPEX New PerspectivePairCorr
  0.62AMRMX American MutualPairCorr
  1.0AMRFX American MutualPairCorr
  0.99RNRPX American Funds RetirementPairCorr
  0.97TEPCX American Funds TaxPairCorr
  0.97TEPAX American Funds TaxPairCorr
  1.0RNWFX 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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