American High Correlations

CITFX Fund

USD 9.93 0.01 0.10%

The current 90-days correlation between American High Income and Jpmorgan Smartretirement Blend is 0.49 (i.e., Very weak diversification). The correlation of American High 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 High Correlation With Market

Very weak diversification

The correlation between American High Income and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American High Income 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 High Income. 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 American Mutual Fund

0.67	RNEBX	New World Fund	Pair Corr
0.73	FPPPX	American Funds Prese	Pair Corr
0.76	AMEFX	Income Fund	Pair Corr
0.75	RNGGX	New Economy Fund	Pair Corr
0.75	RNGFX	New Economy Fund	Pair Corr
0.74	RNGHX	New Economy Fund	Pair Corr
0.61	RNGBX	New Economy Fund	Pair Corr
0.73	RNGAX	New Economy Fund	Pair Corr
0.74	RNGEX	New Economy Fund	Pair Corr
0.74	RNGCX	New Economy Fund	Pair Corr
0.75	RNNEX	New Economy Fund	Pair Corr
0.65	RNPBX	New Perspective	Pair Corr
0.68	RNPAX	New Perspective	Pair Corr
0.68	RNPHX	New Perspective	Pair Corr
0.66	RNPGX	New Perspective	Pair Corr
0.66	RNPFX	New Perspective	Pair Corr
0.66	RNPEX	New Perspective	Pair Corr
0.76	AMRFX	American Mutual	Pair Corr
0.68	RNWFX	New World Fund	Pair Corr
0.67	RNWEX	New World Fund	Pair Corr
0.68	RNWHX	New World Fund	Pair Corr
0.68	RNWGX	New World Fund	Pair Corr
0.65	RNWBX	New World Fund	Pair Corr
0.67	RNWAX	New World Fund	Pair Corr
0.65	RNWCX	New World Fund	Pair Corr
0.83	CEAMX	Short Term Bond	Pair Corr
0.83	SBFFX	Short Term Bond	Pair Corr

Moving against American Mutual Fund

0.41	CENFX	American Funds Lege	Pair Corr
0.41	CENCX	American Funds Lege	Pair Corr
0.4	CENAX	American Funds Lege	Pair Corr
0.37	CENEX	American Funds Lege	Pair Corr

Related Correlations Analysis

	JIBBX	PARCX	PARDX	JTSQX	SXMAX	TRRIX	TRSJX
JIBBX		0.9	0.93	0.9	0.75	0.93	0.98	JIBBX
PARCX	0.9		1.0	0.9	0.92	0.98	0.91	PARCX
PARDX	0.93	1.0		0.91	0.9	0.98	0.94	PARDX
JTSQX	0.9	0.9	0.91		0.87	0.85	0.89	JTSQX
SXMAX	0.75	0.92	0.9	0.87		0.85	0.75	SXMAX
TRRIX	0.93	0.98	0.98	0.85	0.85		0.94	TRRIX
TRSJX	0.98	0.91	0.94	0.89	0.75	0.94		TRSJX
	JIBBX	PARCX	PARDX	JTSQX	SXMAX	TRRIX	TRSJX

Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American High 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 High'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
JIBBX	0.25	0.00	(0.14)	0.09	0.23	(0.30)	0.51	(0.50)	1.33
PARCX	0.42	0.05	0.03	0.18	0.30	(0.46)	0.82	(0.73)	4.41
PARDX	0.53	0.05	0.03	0.14	0.53	(0.57)	1.08	(0.98)	4.06
JTSQX	0.58	0.00	(0.01)	0.09	0.78	(0.59)	1.13	(1.25)	5.81
SXMAX	0.53	0.14	0.16	0.41	0.16	(0.72)	0.56	(0.56)	14.63
TRRIX	0.27	0.01	(0.12)	0.11	0.22	(0.32)	0.58	(0.51)	2.18
TRSJX	0.55	0.00	(0.01)	0.09	0.70	(0.56)	1.06	(1.10)	2.98

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