American High Correlations

Mutual Funds . USA . 
Fund . American High Income
AHIFX Fund  USD 9.95  0.01  0.10%   
The current 90-days correlation between American High Income and Transamerica Asset Allocation is 0.26 (i.e., Modest 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

Poor diversification

The correlation between American High Income and DJI is 0.66 (i.e., Poor 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 price.

Moving together with American Mutual Fund

  0.71RNEBX New World FundPairCorr
  0.71RNCCX American Funds IncomePairCorr
  0.64FPPPX American Funds PresePairCorr
  0.65AMEFX Income FundPairCorr
  0.66RNGGX New Economy FundPairCorr
  0.66RNGFX New Economy FundPairCorr
  0.66RNGHX New Economy FundPairCorr
  0.67RNGBX New Economy FundPairCorr
  0.65RNGAX New Economy FundPairCorr
  0.66RNGEX New Economy FundPairCorr
  0.66RNGCX New Economy FundPairCorr
  0.7TEAFX Tax Exempt BondPairCorr
  0.7FPTPX American Funds ConsePairCorr
  0.66TEFEX Tax Exempt FundPairCorr
  0.67RNNEX New Economy FundPairCorr
  0.86CDJAX American Funds CollegePairCorr
  0.86RNPBX New PerspectivePairCorr
  0.67RNPAX New PerspectivePairCorr
  0.67RNPHX New PerspectivePairCorr
  0.67RNPGX New PerspectivePairCorr
  0.67RNPCX New PerspectivePairCorr
  0.67RNPFX New PerspectivePairCorr
  0.82RNPEX New PerspectivePairCorr
  0.64AMRFX American MutualPairCorr
  0.71RNRPX American Funds RetirementPairCorr
  0.84RNWFX New World FundPairCorr
  0.71RNWEX New World FundPairCorr
  0.71RNWHX New World FundPairCorr
  0.71RNWGX New World FundPairCorr
  0.9RNWBX New World FundPairCorr
  0.84RNWAX New World FundPairCorr
  0.83RNWCX New World FundPairCorr
  0.87CDWEX American Funds DevelopingPairCorr
  0.87CDWFX American Funds DevelopingPairCorr
  0.7CDWCX American Funds DevelopingPairCorr
  0.69CDWAX American Funds DevelopingPairCorr
  0.78ANBGX American Funds StrategicPairCorr
  0.61ANBFX American Funds StrategicPairCorr
  0.65CEAMX Short Term BondPairCorr
  0.7TFEBX Tax Exempt 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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