American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Tax Exempt
TEPCX Fund  USD 9.62  0.01  0.10%   
The current 90-days correlation between American Funds Tax and Income Fund Of is -0.01 (i.e., Good 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 good diversification

The correlation between American Funds Tax Exempt and DJI is -0.3 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Tax Exempt and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in American Funds Tax Exempt. 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 main economic indicators.

Moving together with American Mutual Fund

  0.78AMECX Income FundPairCorr
  0.8RNEBX New World FundPairCorr
  0.82AMFCX American MutualPairCorr
  0.82AMFFX American MutualPairCorr
  0.82RNCCX American Funds IncomePairCorr
  0.74FPPPX American Funds PresePairCorr
  0.8AMEFX Income FundPairCorr
  0.83RNGGX New Economy FundPairCorr
  0.83RNGFX New Economy FundPairCorr
  0.83RNGHX New Economy FundPairCorr
  0.83RNGBX New Economy FundPairCorr
  0.83RNGAX New Economy FundPairCorr
  0.83RNGEX New Economy FundPairCorr
  0.83RNGCX New Economy FundPairCorr
  0.79AMHIX American High IncomePairCorr
  0.68TEBCX Tax Exempt BondPairCorr
  0.75TEAFX Tax Exempt BondPairCorr
  0.82FPTPX American Funds ConsePairCorr
  0.63TECFX Tax Exempt FundPairCorr
  0.68TEFEX Tax Exempt FundPairCorr
  0.8RNNEX New Economy FundPairCorr
  0.82CDJAX American Funds CollegePairCorr
  0.78AMPCX Amcap Fund ClassPairCorr
  0.82AMPFX Amcap Fund ClassPairCorr
  0.8RNPBX New PerspectivePairCorr
  0.8RNPAX New PerspectivePairCorr
  0.77RNPHX New PerspectivePairCorr
  0.81RNPGX New PerspectivePairCorr
  0.81RNPFX New PerspectivePairCorr
  0.81RNPEX New PerspectivePairCorr
  0.81AMRMX American MutualPairCorr
  0.81AMRFX American MutualPairCorr
  0.84RNRPX American Funds RetirementPairCorr
  0.99TEPAX American Funds TaxPairCorr
  0.9TEPFX American Funds TaxPairCorr
  0.81RNWFX New World FundPairCorr
  0.79RNWEX New World FundPairCorr
  0.79RNWHX 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  0.42  0.21  0.17 (1.91) 0.00 
(0.48)
 0.99 
(0.72)
 4.99 
RNEBX  0.62  0.38  0.40 (3.73) 0.00 
(0.75)
 1.94 
(1.02)
 6.70 
AMFCX  0.80  0.02  0.00  0.12  1.44 
(0.81)
 1.53 
(1.79)
 9.15 
AMFFX  0.80  0.02  0.00  0.13  1.44 
(0.81)
 1.53 
(1.77)
 9.12 
RNCCX  0.35  0.18  0.12 (2.58) 0.00 
(0.45)
 0.94 
(0.58)
 3.91 
FPPPX  0.14  0.00 (0.36) 0.19  0.15 
(0.16)
 0.21 
(0.32)
 0.85 
AMEFX  0.42  0.22  0.18 (2.05) 0.00 
(0.51)
 1.01 
(0.77)
 5.08 
RNGGX  0.94  0.45  0.26 (2.20) 0.65 
(1.08)
 2.28 
(1.43)
 12.78 
RNGFX  0.94  0.45  0.25 (2.20) 0.63 
(1.08)
 2.28 
(1.43)
 12.77 
RNGHX  0.94  0.45  0.25 (2.19) 0.63 
(1.08)
 2.28 
(1.44)
 12.79 

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