American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Growth
FPGGX Fund  USD 28.30  0.04  0.14%   
The current 90-days correlation between American Funds Growth and Advent Claymore Convertible is 0.9 (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

Very poor diversification

The correlation between American Funds Growth and DJI is 0.89 (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 Growth 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 Growth. 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

  0.99AMECX Income FundPairCorr
  1.0RNEBX New World FundPairCorr
  1.0AMFCX American MutualPairCorr
  1.0AMFFX American MutualPairCorr
  0.99RNCCX American Funds IncomePairCorr
  0.71FPPPX American Funds PresePairCorr
  0.99AMEFX Income FundPairCorr
  1.0RNGGX New Economy FundPairCorr
  1.0RNGFX New Economy FundPairCorr
  1.0RNGHX New Economy FundPairCorr
  1.0RNGBX New Economy FundPairCorr
  1.0RNGAX New Economy FundPairCorr
  1.0RNGEX New Economy FundPairCorr
  1.0RNGCX New Economy FundPairCorr
  0.77AMHIX American High IncomePairCorr
  0.62TEBCX Tax Exempt BondPairCorr
  0.71TEAFX Tax Exempt BondPairCorr
  0.99FPTPX American Funds ConsePairCorr
  0.76RNNEX New Economy FundPairCorr
  1.0CDJAX American Funds CollegePairCorr
  1.0AMPCX Amcap Fund ClassPairCorr
  1.0AMPFX Amcap Fund ClassPairCorr
  0.99RNPBX New PerspectivePairCorr
  0.99RNPAX New PerspectivePairCorr
  1.0RNPHX New PerspectivePairCorr
  1.0RNPGX New PerspectivePairCorr
  1.0RNPCX New PerspectivePairCorr
  1.0RNPFX New PerspectivePairCorr
  1.0RNPEX New PerspectivePairCorr
  1.0AMRMX American MutualPairCorr
  1.0AMRFX American MutualPairCorr
  0.76RNRPX American Funds RetirementPairCorr
  0.97TEPCX American Funds TaxPairCorr
  0.97TEPAX American Funds TaxPairCorr
  0.97TEPFX American Funds TaxPairCorr
  1.0RNWFX New World FundPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
NCIDX
+ 1.0
XNCVX
VAADX
+ 1.0
XNCVX
VAADX
+ 1.0
NCIDX
ARBOX
+ 0.99
XNCVX
ARBOX
+ 0.99
NCIDX
VAADX
+ 0.99
ARBOX
  
High negative correlations   
VAADX
- 0.19
CCD
XNCVX
- 0.19
CCD
NCIDX
- 0.17
CCD
ARBOX
- 0.16
CCD
CCD
- 0.09
XAVKX

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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