American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Amcap
FMMMX Fund  USD 45.00  0.12  0.27%   
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 poor diversification

The correlation between American Funds Amcap and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Amcap 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 Amcap. 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 population.

Moving together with American Mutual Fund

  0.98AMECX Income FundPairCorr
  0.98AMFCX American MutualPairCorr
  0.98AMFFX American MutualPairCorr
  0.99RNCCX American Funds IncomePairCorr
  0.7FPPPX American Funds PresePairCorr
  0.73AMHIX American High IncomePairCorr
  0.67TEAFX Tax Exempt BondPairCorr
  0.98FPTPX American Funds ConsePairCorr
  0.99RNPHX New PerspectivePairCorr
  0.99RNPGX New PerspectivePairCorr
  0.98AMRMX American MutualPairCorr
  0.98AMRFX American MutualPairCorr
  0.97TEPFX American Funds TaxPairCorr
  0.99RNWGX New World FundPairCorr
  0.98ANCFX American Funds FundaPairCorr
  0.67TFEBX Tax Exempt BondPairCorr
  0.91CENAX American Funds LegePairCorr
  0.98ANWPX New PerspectivePairCorr
  0.99BALFX American BalancedPairCorr
  0.98BALCX American BalancedPairCorr
  0.99CWGIX Capital World GrowthPairCorr
  1.0CWGFX Capital World GrowthPairCorr
  0.98WSHFX Washington MutualPairCorr
  0.99FAETX American Funds 2030PairCorr
  1.0FAFGX American FundsPairCorr
  0.95FAX Aberdeen Asia PacificPairCorr
  0.99CFIHX Capital Income BuilderPairCorr
  1.0FAQTX American Funds 2035PairCorr
  1.0GWPFX American Funds GrowthPairCorr
  1.0GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  1.0GFFFX Growth FundPairCorr
  0.99SCWFX Smallcap WorldPairCorr
  0.99FBAFX American Funds AmericanPairCorr
  0.99FSWFX American Funds SmallcapPairCorr
  0.99CGFEX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  0.99CGFCX Growth 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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