American High Correlations

Mutual Funds . USA . 
Fund . American High Income
AHTFX Fund  USD 9.91  0.01  0.10%   
The current 90-days correlation between American High Income and T Rowe Price is 0.6 (i.e., Poor 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

Very weak diversification

The correlation between American High Income and DJI is 0.59 (i.e., Very weak 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

  0.65AMECX Income FundPairCorr
  0.67AMFCX American MutualPairCorr
  0.67AMFFX American MutualPairCorr
  0.74CUSEX Capital Group EquityPairCorr
  0.71AMPCX Amcap Fund ClassPairCorr
  0.72AMPFX Amcap Fund ClassPairCorr
  0.64TEPAX American Funds TaxPairCorr
  0.69ANCFX American Funds FundaPairCorr
  0.7ANFCX New Economy FundPairCorr
  0.69ANEFX New Economy FundPairCorr
  0.61ANFFX New Economy FundPairCorr
  0.65NPFCX New PerspectivePairCorr
  0.66NPFFX New PerspectivePairCorr
  0.64ANWPX New PerspectivePairCorr
  0.73BALFX American BalancedPairCorr
  0.79BALCX American BalancedPairCorr
  0.63CWGIX Capital World GrowthPairCorr
  0.63CWGFX Capital World GrowthPairCorr
  0.71CWGCX Capital World GrowthPairCorr
  0.82WSHFX Washington MutualPairCorr
  0.71WSHCX Washington MutualPairCorr
  0.77FAATX American Funds 2010PairCorr
  0.74FAETX American Funds 2030PairCorr

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  0.56  0.03  0.03  0.09  0.59 
(0.61)
 1.32 
(1.13)
 2.78 
TIBIX  0.39  0.11  0.15  0.35  0.14 
(0.46)
 0.92 
(0.71)
 2.81 
TIBMX  0.39  0.10  0.14  0.35  0.11 
(0.46)
 0.92 
(0.71)
 2.78 
TIBCX  0.39  0.10  0.13  0.33  0.17 
(0.44)
 0.96 
(0.68)
 2.80 
TIBGX  0.40  0.11  0.16  0.36  0.09 
(0.47)
 0.96 
(0.68)
 2.80 
TIBAX  0.40  0.10  0.14  0.32  0.17 
(0.46)
 0.96 
(0.71)
 2.77 
TIBRX  0.39  0.10  0.14  0.34  0.11 
(0.47)
 0.96 
(0.68)
 2.83 
MIAWX  0.12 (0.01)(0.35)(0.08) 0.10 
(0.18)
 0.21 
(0.21)
 0.74 
GAIFX  0.56 (0.09) 0.00 (0.06) 0.00 
 0.00 
 1.06 
(1.12)
 5.98 
IGIFX  0.61  0.16  0.18  0.88  0.37 
(0.78)
 1.25 
(0.93)
 6.84 

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