American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Smallcap
FSWFX Fund  USD 73.49  0.52  0.71%   
The current 90-days correlation between American Funds Smallcap and Virtus Multi Sector Short is 0.2 (i.e., Modest 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

Almost no diversification

The correlation between American Funds Smallcap and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Smallcap 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 Smallcap. 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 census.

Moving together with American Mutual Fund

  0.97RNEBX New World FundPairCorr
  0.93AMFCX American MutualPairCorr
  0.94AMFFX American MutualPairCorr
  0.99RNCCX American Funds IncomePairCorr
  0.66FPPPX American Funds PresePairCorr
  0.97RNGGX New Economy FundPairCorr
  0.99RNGFX New Economy FundPairCorr
  0.97RNGHX New Economy FundPairCorr
  0.99RNGBX New Economy FundPairCorr
  0.99RNGAX New Economy FundPairCorr
  0.99RNGEX New Economy FundPairCorr
  0.99RNGCX New Economy FundPairCorr
  0.95FPTPX American Funds ConsePairCorr
  0.97CDJAX American Funds CollegePairCorr
  0.99AMPCX Amcap Fund ClassPairCorr
  0.93AMRMX American MutualPairCorr
  1.0RNWFX New World FundPairCorr
  0.99CDWCX American Funds DevelopingPairCorr
  0.96ANCFX American Funds FundaPairCorr
  1.0NPFFX New PerspectivePairCorr
  0.99BALFX American BalancedPairCorr
  0.95BALCX American BalancedPairCorr
  0.97CWIEX Capital World GrowthPairCorr
  0.97CEUFX Europacific GrowthPairCorr
  0.99CWMFX Washington MutualPairCorr
  1.0PGWFX American Funds GlobalPairCorr
  1.0RPEBX New PerspectivePairCorr
  0.99FAETX American Funds 2030PairCorr
  0.99FAFGX American FundsPairCorr
  0.93FAX Aberdeen Asia PacificPairCorr
  0.96FAHHX American Funds AmericanPairCorr
  1.0FAITX American Funds 2050PairCorr
  1.0FAJTX American Funds 2055PairCorr
  0.99FAPTX American Funds 2025PairCorr
  1.0FSFWX American Funds SmallcapPairCorr

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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