American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds 2010
DJTFX Fund  USD 12.44  0.04  0.32%   
The current 90-days correlation between American Funds 2010 and T Rowe Price is 0.11 (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

Poor diversification

The correlation between American Funds 2010 and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds 2010 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in American Funds 2010. 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

  0.75AMECX Income FundPairCorr
  0.7RNEBX New World FundPairCorr
  0.69AMFCX American MutualPairCorr
  0.68AMFFX American MutualPairCorr
  0.96RNCCX American Funds IncomePairCorr
  0.95FPTPX American Funds ConsePairCorr
  0.7CDJAX American Funds CollegePairCorr
  0.75RNPBX New PerspectivePairCorr
  0.75RNPAX New PerspectivePairCorr
  0.74RNPHX New PerspectivePairCorr
  0.74RNPGX New PerspectivePairCorr
  0.75RNPCX New PerspectivePairCorr
  0.74RNPFX New PerspectivePairCorr
  0.68AMRMX American MutualPairCorr
  0.68AMRFX American MutualPairCorr
  0.98RNRPX American Funds RetirementPairCorr
  0.7RNWFX New World FundPairCorr
  0.7RNWEX New World FundPairCorr
  0.7RNWHX New World FundPairCorr
  0.7RNWGX New World FundPairCorr
  0.7RNWAX 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   
BBINX
+ 0.96
PATFX
DHGCX
+ 0.81
BBINX
DHGCX
+ 0.7
PATFX
PRVHX
+ 0.61
ARTFX
PRVHX
+ 0.47
PATFX
PRVHX
+ 0.32
BBINX
  
High negative correlations   
DHGCX
- 0.42
ARTFX
ARTFX
- 0.01
BBINX

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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