American Balanced Correlations

Mutual Funds . USA . 
Fund . American Balanced
ABALX Fund  USD 38.62  0.21  0.54%   
The current 90-days correlation between American Balanced and Growth Fund Of is 0.38 (i.e., Weak diversification). The correlation of American Balanced 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 Balanced Correlation With Market

Almost no diversification

The correlation between American Balanced and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Balanced and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Balanced. 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 board of governors.

Moving together with American Mutual Fund

  0.88AMECX Income FundPairCorr
  0.86AMFCX American MutualPairCorr
  0.89AMFFX American MutualPairCorr
  0.79CUSEX Capital Group EquityPairCorr
  0.81AMHIX American High IncomePairCorr
  0.78TEBCX Tax Exempt BondPairCorr
  0.75TECCX Tax Exempt FundPairCorr
  0.77TECFX Tax Exempt FundPairCorr
  0.76AMPCX Amcap Fund ClassPairCorr
  0.75AMPFX Amcap Fund ClassPairCorr
  0.66AMUSX Us Government SecuritiesPairCorr
  0.89TEPCX American Funds TaxPairCorr
  0.89TEPAX American Funds TaxPairCorr
  0.88TEPFX American Funds TaxPairCorr
  0.92EMGEX Emerging Markets GrowthPairCorr
  0.69ANBEX American Funds StrategicPairCorr
  0.75ANBAX American Funds StrategicPairCorr
  0.62ANBCX American Funds StrategicPairCorr
  0.99ANCFX American Funds FundaPairCorr
  0.83ANFCX New Economy FundPairCorr
  0.88ANEFX New Economy FundPairCorr
  0.85ANFFX New Economy FundPairCorr
  0.92EMRGX Emerging Markets GrowthPairCorr
  0.86NPFCX New PerspectivePairCorr
  0.86NPFFX New PerspectivePairCorr
  0.8CWBFX Capital World BondPairCorr
  0.78CWBCX Capital World BondPairCorr
  0.95PGGAX American Funds GlobalPairCorr
  0.94PGGFX American Funds GlobalPairCorr
  0.9ANWPX New PerspectivePairCorr
  0.96BALFX American BalancedPairCorr
  0.91BALCX American BalancedPairCorr
  0.9CWGIX Capital World GrowthPairCorr
  0.88CWGFX Capital World GrowthPairCorr
  0.88CWGCX Capital World GrowthPairCorr
  0.92WSHFX Washington MutualPairCorr
  0.92WSHCX Washington MutualPairCorr
  0.94FAATX American Funds 2010PairCorr
  0.95FAETX American Funds 2030PairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American Balanced 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 Balanced's 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
AMBFX  0.42  0.03  0.01  0.12  0.48 
(0.45)
 0.97 
(0.88)
 2.64 
BALFX  0.42  0.03  0.01  0.12  0.48 
(0.47)
 0.95 
(0.88)
 2.62 
RLBGX  0.42  0.03  0.01  0.12  0.48 
(0.46)
 0.95 
(0.91)
 2.67 
GFACX  0.89  0.19  0.12  7.83  0.78 
(1.07)
 1.92 
(1.84)
 14.57 
RGAAX  0.89  0.18  0.11  8.28  0.79 
(1.05)
 1.91 
(1.84)
 14.17 
RGABX  0.85  0.11  0.08  0.22  0.81 
(0.99)
 1.27 
(1.83)
 13.89 
GFAFX  0.82  0.08  0.06  0.18  0.82 
(0.94)
 1.28 
(1.83)
 12.18 
AGTHX  1.08  0.33  0.25  2.90  0.65 
(1.33)
 2.05 
(1.84)
 15.55 
GFFFX  0.82  0.08  0.06  0.18  0.82 
(0.94)
 1.28 
(1.83)
 12.10 
GAFFX  0.85  0.15  0.09  8.38  0.82 
(0.99)
 1.91 
(1.84)
 12.04 

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