American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Growth
CGRGX Fund  USD 26.93  0.10  0.37%   
The current 90-days correlation between American Funds Growth and Hennessy Bp Energy is 0.4 (i.e., Very weak 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

Good diversification

The correlation between American Funds Growth and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Growth 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 Growth. 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

  0.91AMECX Income FundPairCorr
  0.93AMFCX American MutualPairCorr
  0.93AMFFX American MutualPairCorr
  0.66RNCCX American Funds IncomePairCorr
  0.92RNGBX New Economy FundPairCorr
  0.77FPTPX American Funds ConsePairCorr
  0.92RNNEX New Economy FundPairCorr
  0.84RNPAX New PerspectivePairCorr
  0.86RNPGX New PerspectivePairCorr
  0.93RNPCX New PerspectivePairCorr
  0.89AMRMX American MutualPairCorr
  1.0ANCFX American Funds FundaPairCorr
  0.84NPFCX New PerspectivePairCorr
  0.85NPFFX New PerspectivePairCorr
  0.96PGGFX American Funds GlobalPairCorr
  0.85ANWPX New PerspectivePairCorr
  0.91BALFX American BalancedPairCorr
  0.91BALCX American BalancedPairCorr
  0.81CWGIX Capital World GrowthPairCorr
  0.81CWGFX Capital World GrowthPairCorr
  0.88CWGCX Capital World GrowthPairCorr
  0.98WSHFX Washington MutualPairCorr
  0.89CWIFX Capital World GrowthPairCorr
  0.79CWICX Capital World GrowthPairCorr
  0.93RPEBX New PerspectivePairCorr
  0.75FAETX American Funds 2030PairCorr
  0.98FAFGX American FundsPairCorr
  0.9FAJTX American Funds 2055PairCorr
  0.94CFNAX American Funds FundaPairCorr

Moving against American Mutual Fund

  0.68AMUSX Us Government SecuritiesPairCorr
  0.62ANBEX American Funds StrategicPairCorr
  0.61CWBFX Capital World BondPairCorr
  0.36FPPPX American Funds PresePairCorr
  0.66CFAAX Bond FundPairCorr

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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