American High Correlations

Mutual Funds . USA . 
Fund . American High Income
AHTFX Fund  USD 9.94  0.01  0.10%   
The current 90-days correlation between American High Income and International Growth And is 0.25 (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 0.7 (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

  1.0AHTCX American High IncomePairCorr
  0.97BHYCX Blackrock Hi YldPairCorr
  0.71BHYIX Blackrock High YieldPairCorr
  0.98BHYSX Blackrock Hi YldPairCorr
  0.98BHYAX Blackrock High YieldPairCorr
  1.0AHITX American High IncomePairCorr
  0.99VWEHX Vanguard High YieldPairCorr
  0.99VWEAX Vanguard High YieldPairCorr
  0.74PHYZX Prudential High YieldPairCorr
  0.9GOLDX Gabelli Gold Steady GrowthPairCorr
  0.68USAGX Precious Metals And Steady GrowthPairCorr
  0.73UNWPX World Precious MineralsPairCorr
  0.7EKWAX Wells Fargo Advantage Steady GrowthPairCorr
  0.87FKRCX Franklin Gold Precious Steady GrowthPairCorr
  0.64KF Korea ClosedPairCorr
  0.72SGGDX First Eagle Gold Steady GrowthPairCorr
  0.89FSAGX Gold Portfolio Gold Steady GrowthPairCorr
  0.9OPGSX Oppenheimer Gold Spec Steady GrowthPairCorr
  0.9QLSCX Federated Mdt SmallPairCorr
  0.9SHCDX Stone Harbor EmergingPairCorr
  0.88IRGPX Voya Retirement GrowthPairCorr
  0.76BNDAX Total Return BondPairCorr
  0.74QLEIX Aqr Long ShortPairCorr
  0.75ECRAX Eaton Vance RichardPairCorr
  0.74FLRUX Infrastructure FundPairCorr
  0.72ABTRX Government BondPairCorr
  0.89TARZX Third Avenue RealPairCorr
  0.71BICSX Blackrock CommodityPairCorr
  0.84FCPCX Fidelity Advisor IntPairCorr
  0.91GICUX Goldman Sachs InternPairCorr
  0.83SSGHX State Street GlobalPairCorr
  0.77AMTYX Ab All MarketPairCorr
  0.76MEFIX Martin Currie EmergingPairCorr
  0.79FLBDX Total Return BondPairCorr
  0.82DGFYX Davis GlobalPairCorr
  0.8DILYX Davis InternationalPairCorr
  0.62RTHSX Tax Exempt HighPairCorr
  0.91WMMCX Teton Westwood MightyPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PRFDX  0.58  0.06  0.08  0.15  0.44 
(0.67)
 1.50 
(1.00)
 3.19 
TIBIX  0.39  0.16  0.28  0.53  0.00 
(0.49)
 1.03 
(0.70)
 2.81 
TIBMX  0.39  0.16  0.28  0.52  0.00 
(0.49)
 1.03 
(0.70)
 2.78 
TIBCX  0.39  0.15  0.23  0.90  0.00 
(0.47)
 0.98 
(0.68)
 2.80 
TIBGX  0.39  0.16  0.27  0.52  0.00 
(0.49)
 0.98 
(0.68)
 2.80 
TIBAX  0.40  0.15  0.23  0.90  0.00 
(0.48)
 0.98 
(0.71)
 2.77 
TIBRX  0.39  0.16  0.27  0.52  0.00 
(0.50)
 0.98 
(0.68)
 2.83 
MIAWX  0.13  0.00 (0.34) 0.02  0.09 
(0.17)
 0.21 
(0.32)
 0.75 
GAIFX  0.46  0.01 (0.02) 0.08  0.53 
(0.48)
 0.93 
(1.07)
 2.71 
IGIFX  0.58  0.20  0.32  0.36  0.00 
(0.76)
 1.25 
(0.86)
 7.31 

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