American High Correlations

AHITX Fund

USD 9.95 0.01 0.10%

The current 90-days correlation between American High Income and Smallcap Growth Fund is 0.24 (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 0.68 (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 producer price index.

Moving together with American Mutual Fund

1.0	AHTCX	American High Income	Pair Corr
0.97	BHYCX	Blackrock Hi Yld	Pair Corr
0.99	BHYIX	Blackrock High Yield	Pair Corr
0.98	BHYSX	Blackrock Hi Yld	Pair Corr
0.98	BHYAX	Blackrock High Yield	Pair Corr
1.0	AHTFX	American High Income	Pair Corr
0.99	VWEHX	Vanguard High Yield	Pair Corr
0.99	VWEAX	Vanguard High Yield	Pair Corr
0.98	PHYZX	Prudential High Yield	Pair Corr
0.83	VSTSX	Vanguard Total Stock	Pair Corr
0.83	VSMPX	Vanguard Total Stock	Pair Corr
0.68	VITSX	Vanguard Total Stock	Pair Corr
0.79	VFFSX	Vanguard 500 Index	Pair Corr
0.8	VFIAX	Vanguard 500 Index	Pair Corr
0.9	VTSNX	Vanguard Total Inter	Pair Corr
0.9	VTISX	Vanguard Total Inter	Pair Corr
0.9	VTPSX	Vanguard Total Inter	Pair Corr
0.8	VINIX	Vanguard Institutional	Pair Corr
0.82	BA	Boeing Earnings Call Tomorrow	Pair Corr
0.73	WMT	Walmart Common Stock Sell-off Trend	Pair Corr

Moving against American Mutual Fund

0.47	T	ATT Inc Earnings Call This Week	Pair Corr
0.4	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	CIPMX	EIPFX	GCIGX	GETFX	ARTSX	PSIJX
CIPMX		0.94	0.81	0.82	0.88	0.94	CIPMX
EIPFX	0.94		0.85	0.8	0.87	0.95	EIPFX
GCIGX	0.81	0.85		0.76	0.84	0.86	GCIGX
GETFX	0.82	0.8	0.76		0.92	0.85	GETFX
ARTSX	0.88	0.87	0.84	0.92		0.91	ARTSX
PSIJX	0.94	0.95	0.86	0.85	0.91		PSIJX
	CIPMX	EIPFX	GCIGX	GETFX	ARTSX	PSIJX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CIPMX	1.02	0.31	0.33	0.75	0.34	(1.38)	1.68	(1.22)	23.97
EIPFX	0.73	0.31	0.35	9.42	0.00	(0.92)	1.16	(0.86)	15.51
GCIGX	0.72	0.16	0.12	1.44	0.62	(0.81)	1.76	(1.29)	6.91
GETFX	0.57	0.13	0.17	0.22	0.29	(0.68)	1.01	(1.06)	10.15
ARTSX	1.14	0.16	0.16	0.18	0.93	(1.35)	2.12	(1.92)	13.44
PSIJX	1.45	0.36	0.26	0.34	1.06	(1.74)	1.92	(2.18)	25.88

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