American High Correlations

Mutual Funds . USA . 
Fund . American High Income
AHTFX Fund  USD 9.97  0.01  0.10%   
The current 90-days correlation between American High Income and International Growth And is 0.16 (i.e., Average 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 price.

Moving together with American Mutual Fund

  0.9AMECX Income FundPairCorr
  0.9AMFCX American MutualPairCorr
  0.9AMFFX American MutualPairCorr
  0.81CUSEX Capital Group EquityPairCorr
  0.86AMHIX American High IncomePairCorr
  0.82TEBCX Tax Exempt BondPairCorr
  0.78TECCX Tax Exempt FundPairCorr
  0.81TECFX Tax Exempt FundPairCorr
  0.74AMPCX Amcap Fund ClassPairCorr
  0.73AMPFX Amcap Fund ClassPairCorr
  0.77AMUSX Us Government SecuritiesPairCorr
  0.91TEPCX American Funds TaxPairCorr
  0.91TEPAX American Funds TaxPairCorr
  0.91TEPFX American Funds TaxPairCorr
  0.89EMGEX Emerging Markets GrowthPairCorr
  0.79ANBEX American Funds StrategicPairCorr
  0.8ANBAX American Funds StrategicPairCorr
  0.73ANBCX American Funds StrategicPairCorr
  0.9ANCFX American Funds FundaPairCorr
  0.84ANFCX New Economy FundPairCorr
  0.85ANEFX New Economy FundPairCorr
  0.85ANFFX New Economy FundPairCorr
  0.89EMRGX Emerging Markets GrowthPairCorr
  0.85NPFCX New PerspectivePairCorr
  0.85NPFFX New PerspectivePairCorr
  0.8CWBFX Capital World BondPairCorr
  0.77CWBCX Capital World BondPairCorr
  0.9PGGAX American Funds GlobalPairCorr
  0.9PGGFX American Funds GlobalPairCorr
  0.85ANWPX New PerspectivePairCorr
  0.95BALFX American BalancedPairCorr
  0.91BALCX American BalancedPairCorr
  0.89CWGIX Capital World GrowthPairCorr
  0.89CWGFX Capital World GrowthPairCorr
  0.89CWGCX Capital World GrowthPairCorr
  0.94WSHFX Washington MutualPairCorr
  0.9WSHCX Washington MutualPairCorr
  0.96FAATX American Funds 2010PairCorr
  0.95FAETX 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  0.11  0.15  0.20  0.38 
(0.64)
 1.58 
(1.06)
 3.19 
TIBIX  0.44  0.24  0.42  0.85  0.00 
(0.59)
 1.27 
(0.71)
 2.98 
TIBMX  0.44  0.24  0.42  0.84  0.00 
(0.59)
 1.27 
(0.71)
 2.98 
TIBCX  0.44  0.24  0.40  0.78  0.00 
(0.55)
 1.21 
(0.71)
 3.06 
TIBGX  0.44  0.24  0.41  0.84  0.00 
(0.59)
 1.31 
(0.71)
 3.03 
TIBAX  0.44  0.24  0.41  0.77  0.00 
(0.57)
 1.18 
(0.71)
 2.97 
TIBRX  0.44  0.24  0.41  0.83  0.00 
(0.59)
 1.28 
(0.68)
 3.06 
MIAWX  0.11  0.02 (0.23) 0.41  0.00 
(0.17)
 0.21 
(0.21)
 0.74 
GAIFX  0.46  0.01 (0.02) 0.08  0.56 
(0.47)
 0.93 
(1.07)
 2.68 
IGIFX  0.65  0.22  0.28  0.39  0.24 
(0.81)
 1.52 
(0.98)
 8.10 

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