American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Tax Exempt
TEPFX Fund  USD 9.65  0.01  0.10%   
The current 90-days correlation between American Funds Tax and Income Fund Of is -0.06 (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

Good diversification

The correlation between American Funds Tax Exempt and DJI is -0.12 (i.e., 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 census.

Moving together with American Mutual Fund

  0.77AMECX Income FundPairCorr
  0.78RNEBX New World FundPairCorr
  0.82AMFCX American MutualPairCorr
  0.79AMFFX American MutualPairCorr
  0.79RNCCX American Funds IncomePairCorr
  0.73FPPPX American Funds PresePairCorr
  0.78AMEFX Income FundPairCorr
  0.82RNGGX New Economy FundPairCorr
  0.81RNGFX New Economy FundPairCorr
  0.81RNGHX New Economy FundPairCorr
  0.82RNGBX New Economy FundPairCorr
  0.76RNGAX New Economy FundPairCorr
  0.81RNGEX New Economy FundPairCorr
  0.81RNGCX New Economy FundPairCorr
  0.71AMHIX American High IncomePairCorr
  0.65TEBCX Tax Exempt BondPairCorr
  0.72TEAFX Tax Exempt BondPairCorr
  0.79FPTPX American Funds ConsePairCorr
  0.61TECFX Tax Exempt FundPairCorr
  0.65TEFEX Tax Exempt FundPairCorr
  0.87RNNEX New Economy FundPairCorr
  0.81CDJAX American Funds CollegePairCorr
  0.78AMPCX Amcap Fund ClassPairCorr
  0.78RNPBX New PerspectivePairCorr
  0.78RNPAX New PerspectivePairCorr
  0.85RNPHX New PerspectivePairCorr
  0.79RNPGX New PerspectivePairCorr
  0.79RNPFX New PerspectivePairCorr
  0.79RNPEX New PerspectivePairCorr
  0.79AMRMX American MutualPairCorr
  0.73AMRFX American MutualPairCorr
  0.84RNRPX American Funds RetirementPairCorr
  0.93TEPAX American Funds TaxPairCorr
  0.78RNWFX New World FundPairCorr
  0.79RNWEX New World FundPairCorr
  0.86RNWHX New World FundPairCorr
  0.78RNWGX 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  0.43  0.16  0.16  0.60  0.00 
(0.48)
 0.99 
(0.72)
 4.99 
RNEBX  0.63  0.33  0.41  0.89  0.00 
(0.75)
 1.94 
(1.02)
 6.70 
AMFCX  0.80  0.11  0.00 (2.62) 1.44 
(0.81)
 1.53 
(1.79)
 9.15 
AMFFX  0.69  0.19  0.17  0.43  0.54 
(0.85)
 1.53 
(1.27)
 9.12 
RNCCX  0.36  0.15  0.13  0.69  0.00 
(0.45)
 0.94 
(0.58)
 3.91 
FPPPX  0.14  0.01 (0.36)(0.44) 0.15 
(0.16)
 0.21 
(0.32)
 0.85 
AMEFX  0.43  0.19  0.18  0.71  0.00 
(0.51)
 1.01 
(0.77)
 5.08 
RNGGX  0.95  0.34  0.25  0.52  0.66 
(1.09)
 2.28 
(1.43)
 12.78 
RNGFX  0.95  0.37  0.26  0.59  0.65 
(1.08)
 2.28 
(1.43)
 12.77 
RNGHX  0.95  0.37  0.26  0.59  0.65 
(1.08)
 2.28 
(1.44)
 12.79 

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