American High Correlations

Mutual Funds . USA . 
Fund . American High Income
AHIFX Fund  USD 9.94  0.02  0.20%   
The current 90-days correlation between American High Income and Cb Large Cap is 0.08 (i.e., Significant diversification). The correlation of American High 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 High Correlation With Market

Almost no diversification

The correlation between American High Income and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American High Income 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 High Income. 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

  0.9RNEBX New World FundPairCorr
  0.95RNCCX American Funds IncomePairCorr
  0.91FPPPX American Funds PresePairCorr
  0.63AMEFX Income FundPairCorr
  0.72RNGGX New Economy Fund Potential GrowthPairCorr
  0.75RNGFX New Economy Fund Potential GrowthPairCorr
  0.72RNGHX New Economy Fund Potential GrowthPairCorr
  0.71RNGBX New Economy Fund Potential GrowthPairCorr
  0.74RNGAX New Economy Fund Potential GrowthPairCorr
  0.72RNGEX New Economy Fund Potential GrowthPairCorr
  0.72RNGCX New Economy Fund Potential GrowthPairCorr
  0.95FPTPX American Funds ConsePairCorr
  0.76RNNEX New Economy Fund Potential GrowthPairCorr
  0.9CDJAX American Funds CollegePairCorr
  0.88RNPBX New PerspectivePairCorr
  0.7RNPAX New PerspectivePairCorr
  0.71RNPHX New PerspectivePairCorr
  0.74RNPGX New PerspectivePairCorr
  0.7RNPCX New PerspectivePairCorr
  0.71RNPFX New PerspectivePairCorr
  0.88RNPEX New PerspectivePairCorr
  0.9AMRFX American MutualPairCorr
  0.65RNRPX American Funds RetirementPairCorr
  0.9RNWFX New World FundPairCorr
  0.65RNWEX New World FundPairCorr
  0.65RNWHX New World FundPairCorr
  0.71RNWGX New World FundPairCorr
  0.9RNWBX New World FundPairCorr
  0.9RNWAX New World FundPairCorr
  0.9RNWCX New World FundPairCorr
  0.85CDWEX American Funds DevelopingPairCorr
  0.85CDWFX American Funds DevelopingPairCorr
  0.85CDWAX American Funds DevelopingPairCorr
  0.84ANBGX American Funds StrategicPairCorr
  0.91CEAMX Short Term BondPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American High 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 High'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.

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