American Funds Correlations

CPGCX Fund  USD 22.45  0.16  0.72%   
The current 90-days correlation between American Funds Global and Rbb Fund is 0.19 (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

Weak diversification

The correlation between American Funds Global and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Global 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 Global. 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

  0.73AMECX Income FundPairCorr
  0.74RNEBX New World FundPairCorr
  0.74AMFCX American MutualPairCorr
  0.77AMFFX American MutualPairCorr
  0.93RNCCX American Funds IncomePairCorr
  0.76AMEFX Income FundPairCorr
  0.84RNGGX New Economy FundPairCorr
  0.84RNGFX New Economy FundPairCorr
  0.84RNGHX New Economy FundPairCorr
  0.83RNGBX New Economy FundPairCorr
  0.82RNGAX New Economy FundPairCorr
  0.84RNGEX New Economy FundPairCorr
  0.83RNGCX New Economy FundPairCorr
  0.63AMHIX American High IncomePairCorr
  0.67TEBCX Tax Exempt BondPairCorr
  0.66TECCX Tax Exempt FundPairCorr
  0.62TEAFX Tax Exempt BondPairCorr
  0.93FPTPX American Funds ConsePairCorr
  0.62TECFX Tax Exempt FundPairCorr
  0.61TEFEX Tax Exempt FundPairCorr
  0.83RNNEX New Economy FundPairCorr
  0.93CDJAX American Funds CollegePairCorr
  0.87AMPCX Amcap Fund ClassPairCorr
  0.88AMPFX Amcap Fund ClassPairCorr
  0.92RNPBX New PerspectivePairCorr
  0.92RNPAX New PerspectivePairCorr
  0.92RNPHX New PerspectivePairCorr
  0.92RNPGX New PerspectivePairCorr
  0.92RNPCX New PerspectivePairCorr
  0.92RNPFX New PerspectivePairCorr
  0.92RNPEX New PerspectivePairCorr
  0.74AMRMX American MutualPairCorr
  0.75AMRFX American MutualPairCorr
  0.81RNRPX American Funds RetirementPairCorr
  0.66AMUSX Us Government SecuritiesPairCorr
  0.62TEPCX American Funds TaxPairCorr
  0.75RNWFX New World FundPairCorr

Related Correlations Analysis

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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   
BOSVXRSPKX
FMASXRSPKX
RSPKXEIPIX
BWDIXOPTCX
FMASXBOSVX
BOSVXEIPIX
  
High negative correlations   
BOSVXOPTCX
BOSVXBWDIX

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.