Amcap Fund Correlations

CAFFX Fund

USD 46.30 0.11 0.24%

The current 90-days correlation between Amcap Fund Class and Gmo High Yield is -0.03 (i.e., Good 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

Significant diversification

The correlation between Amcap Fund Class and DJI is 0.03 (i.e., Significant 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 census.

Moving together with Amcap Mutual Fund

0.86	AMECX	Income Fund	Pair Corr
0.95	AMFCX	American Mutual	Pair Corr
0.95	AMFFX	American Mutual	Pair Corr
0.76	FPTPX	American Funds Conse	Pair Corr
0.9	AMRMX	American Mutual	Pair Corr
0.9	AMRFX	American Mutual	Pair Corr
0.92	ANFFX	New Economy Fund	Pair Corr
0.83	NPFFX	New Perspective	Pair Corr
0.76	CWGIX	Capital World Growth	Pair Corr
0.76	CWGFX	Capital World Growth	Pair Corr
0.98	WSHFX	Washington Mutual	Pair Corr
0.83	FAHHX	American Funds American	Pair Corr
0.89	FAITX	American Funds 2050	Pair Corr
0.92	FAIFX	American Funds	Pair Corr
0.89	FAJTX	American Funds 2055	Pair Corr
0.83	FAQTX	American Funds 2035	Pair Corr
0.89	FATTX	American Funds 2045	Pair Corr
0.88	FAUTX	American Funds 2040	Pair Corr
0.89	FAWTX	American Funds 2060	Pair Corr
0.89	FAXTX	American Funds 2065	Pair Corr
0.94	GFAFX	Growth Fund	Pair Corr
0.77	SCWFX	Smallcap World	Pair Corr
0.94	CGFAX	Growth Fund	Pair Corr
0.89	FBKTX	American Funds 2060	Pair Corr
0.84	FTAHX	American Funds American	Pair Corr
0.85	CIMEX	Income Fund	Pair Corr
0.92	CIMFX	Income Fund	Pair Corr
0.85	CIMCX	Income Fund	Pair Corr
0.95	FFFMX	American Funds American	Pair Corr
0.92	FFIFX	American Funds	Pair Corr
0.95	FFMMX	American Funds American	Pair Corr
0.97	CLBEX	American Balanced	Pair Corr

Moving against Amcap Mutual Fund

0.7	AMUSX	Us Government Securities	Pair Corr
0.71	RGVAX	Us Government Securities	Pair Corr
0.7	CGTCX	Us Government Securities	Pair Corr
0.7	USGFX	Us Government Securities	Pair Corr
0.69	RGVBX	Us Government Securities	Pair Corr
0.68	RGVCX	Us Government Securities	Pair Corr
0.68	RGVJX	Us Government Securities	Pair Corr
0.43	FIBLX	American Funds Inflation	Pair Corr

Related Correlations Analysis

	GHVIX	PGHCX	AHYMX	MRHYX	ACHFX	PHYEX	LHYOX
GHVIX		0.86	0.65	0.9	0.87	0.8	0.85	GHVIX
PGHCX	0.86		0.77	0.93	0.97	0.9	0.98	PGHCX
AHYMX	0.65	0.77		0.69	0.78	0.69	0.77	AHYMX
MRHYX	0.9	0.93	0.69		0.88	0.76	0.91	MRHYX
ACHFX	0.87	0.97	0.78	0.88		0.94	0.97	ACHFX
PHYEX	0.8	0.9	0.69	0.76	0.94		0.91	PHYEX
LHYOX	0.85	0.98	0.77	0.91	0.97	0.91		LHYOX
	GHVIX	PGHCX	AHYMX	MRHYX	ACHFX	PHYEX	LHYOX

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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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GHVIX	0.13	0.01	(0.40)	0.22	(0.17)	0.23	(0.28)	0.72
PGHCX	0.13	0.03	(0.28)	(1.05)	(0.34)	0.53	(0.26)	0.80
AHYMX	0.10	0.02	(0.27)	1.09	(0.17)	0.33	(0.22)	1.09
MRHYX	0.09	0.02	(0.53)	5.78	(0.14)	0.23	(0.12)	0.47
ACHFX	0.13	0.03	(0.45)	(1.07)	(0.20)	0.35	(0.23)	0.93
PHYEX	0.13	0.03	(0.34)	(0.54)	(0.26)	0.41	(0.21)	1.05
LHYOX	0.13	0.03	(0.37)	12.72	(0.21)	0.31	(0.16)	0.93

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