American Funds Correlations

BFICX Fund

USD 9.20 0.01 0.11%

The current 90-days correlation between American Funds Inflation and Siit Emerging Markets is 0.13 (i.e., Average diversification). The correlation of American Funds 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 Funds Correlation With Market

Significant diversification

The correlation between American Funds Inflation and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Inflation 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 Funds Inflation. 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 main economic indicators.

Moving together with American Mutual Fund

0.93	FPPPX	American Funds Prese	Pair Corr
0.74	TEBCX	Tax Exempt Bond	Pair Corr
0.81	TECCX	Tax Exempt Fund	Pair Corr
0.71	TEAFX	Tax Exempt Bond	Pair Corr
0.77	TECFX	Tax Exempt Fund	Pair Corr
0.75	TEFEX	Tax Exempt Fund	Pair Corr
0.93	AMUSX	Us Government Securities	Pair Corr
0.73	TEPCX	American Funds Tax	Pair Corr
0.7	TEPAX	American Funds Tax	Pair Corr
0.66	TEPFX	American Funds Tax	Pair Corr

Moving against American Mutual Fund

0.45	RNGGX	New Economy Fund	Pair Corr
0.45	RNGHX	New Economy Fund	Pair Corr
0.4	RNGFX	New Economy Fund	Pair Corr
0.4	RNGEX	New Economy Fund	Pair Corr
0.4	RNGCX	New Economy Fund	Pair Corr
0.4	RNNEX	New Economy Fund	Pair Corr
0.39	RNGBX	New Economy Fund	Pair Corr
0.39	RNGAX	New Economy Fund	Pair Corr
0.38	AMPFX	Amcap Fund Class	Pair Corr
0.37	AMPCX	Amcap Fund Class	Pair Corr
0.45	ANCFX	American Funds Funda	Pair Corr
0.44	ANEFX	New Economy Fund	Pair Corr
0.4	ANFFX	New Economy Fund	Pair Corr
0.39	ANFCX	New Economy Fund	Pair Corr

Related Correlations Analysis

	SMQFX	XWDIX	POEIX	TEOJX	APDOX	AMTOX
SMQFX		-0.07	0.91	0.91	0.67	0.92	SMQFX
XWDIX	-0.07		-0.19	-0.01	-0.41	0.08	XWDIX
POEIX	0.91	-0.19		0.95	0.64	0.77	POEIX
TEOJX	0.91	-0.01	0.95		0.53	0.78	TEOJX
APDOX	0.67	-0.41	0.64	0.53		0.68	APDOX
AMTOX	0.92	0.08	0.77	0.78	0.68		AMTOX
	SMQFX	XWDIX	POEIX	TEOJX	APDOX	AMTOX

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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

TEOJX	+ 0.95	POEIX
AMTOX	+ 0.92	SMQFX
POEIX	+ 0.91	SMQFX
TEOJX	+ 0.91	SMQFX
AMTOX	+ 0.78	TEOJX
AMTOX	+ 0.77	POEIX

High negative correlations

APDOX	- 0.41	XWDIX
POEIX	- 0.19	XWDIX
XWDIX	- 0.07	SMQFX
TEOJX	- 0.01	XWDIX

Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American Funds 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 Funds' 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
SMQFX	0.59	(0.04)	(0.12)	0.00	0.77	(0.59)	1.27	(1.33)	3.52
XWDIX	0.16	(0.03)	0.00	(2.64)	0.00	0.00	0.32	(0.38)	1.39
POEIX	0.82	0.01	(0.10)	0.05	1.03	(0.85)	1.54	(1.82)	5.70
TEOJX	0.67	0.00	(0.12)	0.12	0.83	(0.76)	1.76	(1.83)	4.91
APDOX	0.14	0.03	(0.42)	6.01	0.00	(0.21)	0.39	(0.19)	0.78
AMTOX	0.49	0.00	(0.09)	0.10	0.54	(0.61)	1.10	(1.08)	3.43

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