American High Correlations

Mutual Funds . USA . 
Fund . American High Income
AHTCX Fund  USD 9.94  0.01  0.10%   
The current 90-days correlation between American High Income and Fidelity Real Estate 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 unemployment.

Moving together with American Mutual Fund

  0.89AMECX Income FundPairCorr
  0.88AMFCX American MutualPairCorr
  0.88AMFFX American MutualPairCorr
  0.86CUSEX Capital Group EquityPairCorr
  0.82AMHIX American High IncomePairCorr
  0.7TEBCX Tax Exempt BondPairCorr
  0.63TECCX Tax Exempt FundPairCorr
  0.69TECFX Tax Exempt FundPairCorr
  0.89AMPCX Amcap Fund ClassPairCorr
  0.89AMPFX Amcap Fund ClassPairCorr
  0.64AMUSX Us Government SecuritiesPairCorr
  0.88TEPCX American Funds TaxPairCorr
  0.9TEPAX American Funds TaxPairCorr
  0.9TEPFX American Funds TaxPairCorr
  0.84EMGEX Emerging Markets GrowthPairCorr
  0.66ANBEX American Funds StrategicPairCorr
  0.69ANBAX American Funds StrategicPairCorr
  0.92ANCFX American Funds FundaPairCorr
  0.87ANFCX New Economy FundPairCorr
  0.89ANEFX New Economy FundPairCorr
  0.89ANFFX New Economy FundPairCorr
  0.84EMRGX Emerging Markets GrowthPairCorr
  0.86NPFCX New PerspectivePairCorr
  0.87NPFFX New PerspectivePairCorr
  0.9PGGAX American Funds GlobalPairCorr
  0.9PGGFX American Funds GlobalPairCorr
  0.87ANWPX New PerspectivePairCorr
  0.94BALFX American BalancedPairCorr
  0.92BALCX American BalancedPairCorr
  0.89CWGIX Capital World GrowthPairCorr
  0.89CWGFX Capital World GrowthPairCorr
  0.89CWGCX Capital World GrowthPairCorr
  0.91WSHFX Washington MutualPairCorr
  0.91WSHCX Washington MutualPairCorr
  0.94FAATX American Funds 2010PairCorr
  0.92FAETX American Funds 2030PairCorr

Moving against American Mutual Fund

  0.46AMRMX American MutualPairCorr

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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