Amcap Fund Correlations

AMCPX Fund

USD 46.13 0.25 0.54%

The current 90-days correlation between Amcap Fund Class and Amcap Fund Class is 0.02 (i.e., Significant diversification). The correlation of Amcap Fund 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.

Amcap Fund Correlation With Market

Average diversification

The correlation between Amcap Fund Class and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amcap Fund Class 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 Amcap Fund Class. 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 employment.

Moving together with Amcap Mutual Fund

0.76	AMECX	Income Fund	Pair Corr
0.74	AMFCX	American Mutual	Pair Corr
0.75	AMFFX	American Mutual	Pair Corr
0.86	CUSEX	Capital Group Equity	Pair Corr
0.81	AMPCX	Amcap Fund Class	Pair Corr
0.82	AMPFX	Amcap Fund Class	Pair Corr
0.75	AMRMX	American Mutual	Pair Corr
0.67	EMGEX	Emerging Markets Growth	Pair Corr
0.83	ANFCX	New Economy Fund	Pair Corr
0.84	ANEFX	New Economy Fund	Pair Corr
0.85	ANFFX	New Economy Fund	Pair Corr
0.64	EMRGX	Emerging Markets Growth	Pair Corr
0.72	NPFCX	New Perspective	Pair Corr
0.72	NPFFX	New Perspective	Pair Corr
0.7	ANWPX	New Perspective	Pair Corr
0.88	BALCX	American Balanced	Pair Corr
0.82	CWGIX	Capital World Growth	Pair Corr
0.84	CWGFX	Capital World Growth	Pair Corr
0.84	CWGCX	Capital World Growth	Pair Corr
0.62	WSHFX	Washington Mutual	Pair Corr

Related Correlations Analysis

	RAFFX	AMPCX	TRSAX	RRGSX	PRUFX	RRBGX	PABGX	RLLGX	SMCWX	SCWFX
RAFFX		0.98	0.76	0.75	0.77	0.91	0.64	0.32	0.31	0.51	RAFFX
AMPCX	0.98		0.85	0.84	0.85	0.92	0.52	0.23	0.22	0.42	AMPCX
TRSAX	0.76	0.85		1.0	1.0	0.91	0.2	-0.07	-0.07	0.06	TRSAX
RRGSX	0.75	0.84	1.0		1.0	0.91	0.18	-0.08	-0.08	0.05	RRGSX
PRUFX	0.77	0.85	1.0	1.0		0.92	0.22	-0.06	-0.06	0.07	PRUFX
RRBGX	0.91	0.92	0.91	0.91	0.92		0.56	0.21	0.21	0.35	RRBGX
PABGX	0.64	0.52	0.2	0.18	0.22	0.56		0.57	0.57	0.66	PABGX
RLLGX	0.32	0.23	-0.07	-0.08	-0.06	0.21	0.57		1.0	0.8	RLLGX
SMCWX	0.31	0.22	-0.07	-0.08	-0.06	0.21	0.57	1.0		0.81	SMCWX
SCWFX	0.51	0.42	0.06	0.05	0.07	0.35	0.66	0.8	0.81		SCWFX
	RAFFX	AMPCX	TRSAX	RRGSX	PRUFX	RRBGX	PABGX	RLLGX	SMCWX	SCWFX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RRGSX	+ 1.0	TRSAX
PRUFX	+ 1.0	TRSAX
PRUFX	+ 1.0	RRGSX
SMCWX	+ 1.0	RLLGX
AMPCX	+ 0.98	RAFFX
RRBGX	+ 0.92	AMPCX

High negative correlations

SMCWX	- 0.08	RRGSX
RLLGX	- 0.08	RRGSX
SMCWX	- 0.07	TRSAX
RLLGX	- 0.07	TRSAX
SMCWX	- 0.06	PRUFX
RLLGX	- 0.06	PRUFX

Risk-Adjusted Indicators

There is a big difference between Amcap Mutual Fund performing well and Amcap Fund 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 Amcap Fund'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
RAFFX	0.76	(0.05)	0.00	(0.20)	0.00	0.00	1.33	(1.75)	7.98
AMPCX	0.79	(0.07)	0.00	(0.33)	0.00	0.00	1.31	(1.76)	9.40
TRSAX	1.01	(0.20)	0.00	(0.44)	0.00	0.00	1.75	(2.01)	14.96
RRGSX	1.02	(0.21)	0.00	(0.46)	0.00	0.00	1.75	(2.01)	15.76
PRUFX	0.99	(0.18)	0.00	(0.43)	0.00	0.00	1.76	(2.01)	14.35
RRBGX	0.90	(0.07)	0.00	(0.24)	0.00	0.00	1.69	(2.08)	8.07
PABGX	0.96	0.00	(0.02)	0.07	1.68	(0.83)	2.15	(2.07)	10.73
RLLGX	0.78	(0.05)	0.00	(0.44)	0.00	0.00	1.32	(1.27)	5.73
SMCWX	0.78	(0.05)	0.00	(0.59)	0.00	0.00	1.32	(1.27)	5.56
SCWFX	0.78	(0.05)	0.00	(0.39)	0.00	0.00	1.32	(1.27)	5.60

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