American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Fundamental
CFNAX Fund  USD 88.04  0.39  0.44%   
The current 90-days correlation between American Funds Funda and Qs Large Cap is 0.96 (i.e., Almost no 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

Very poor diversification

The correlation between American Funds Fundamental and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Fundamental 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 Fundamental. 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 nation.

Moving together with American Mutual Fund

  0.92AMECX Income FundPairCorr
  0.94AMFCX American MutualPairCorr
  0.94AMFFX American MutualPairCorr
  0.71RNCCX American Funds IncomePairCorr
  0.92AMEFX Income FundPairCorr
  0.99RNGGX New Economy FundPairCorr
  0.99RNGFX New Economy FundPairCorr
  0.99RNGHX New Economy FundPairCorr
  0.99RNGBX New Economy FundPairCorr
  0.99RNGAX New Economy FundPairCorr
  0.99RNGEX New Economy FundPairCorr
  0.99RNGCX New Economy FundPairCorr
  0.74FPTPX American Funds ConsePairCorr
  0.99RNNEX New Economy FundPairCorr
  0.97CDJAX American Funds CollegePairCorr
  0.99AMPCX Amcap Fund ClassPairCorr
  0.99AMPFX Amcap Fund ClassPairCorr
  0.91RNPBX New PerspectivePairCorr
  0.91RNPAX New PerspectivePairCorr
  0.92RNPHX New PerspectivePairCorr
  0.92RNPGX New PerspectivePairCorr
  0.92RNPCX New PerspectivePairCorr
  0.92RNPFX New PerspectivePairCorr
  0.92RNPEX New PerspectivePairCorr
  0.94AMRMX American MutualPairCorr
  0.94AMRFX American MutualPairCorr
  0.62RNRPX American Funds RetirementPairCorr

Moving against American Mutual Fund

  0.46FPPPX American Funds PresePairCorr
  0.31TECCX Tax Exempt FundPairCorr
  0.7AMUSX Us Government SecuritiesPairCorr
  0.68ANBEX American Funds StrategicPairCorr
  0.68ANBAX American Funds StrategicPairCorr
  0.68ANBCX American Funds StrategicPairCorr
  0.67ANBGX American Funds StrategicPairCorr
  0.67ANBFX American Funds StrategicPairCorr

Related Correlations Analysis

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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.

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