American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds The
FAFGX Fund  USD 71.36  0.06  0.08%   
The current 90-days correlation between American Funds and Prudential Health Sciences is -0.15 (i.e., Good 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

AmericanDowDiversified AwayAmericanDowDiversified Away100%

Very weak diversification

The correlation between American Funds The and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds The 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 The. 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

  0.63AMFCX American MutualPairCorr
  0.62AMFFX American MutualPairCorr
  0.8CDJAX American Funds CollegePairCorr
  0.9RNPAX New PerspectivePairCorr
  0.89NPFCX New PerspectivePairCorr
  0.89NPFFX New PerspectivePairCorr
  0.88DITFX American Funds 2050PairCorr
  0.77ANWPX New PerspectivePairCorr
  0.84CWMAX Washington MutualPairCorr
  0.87FATTX American Funds 2045PairCorr
  0.91GFAFX Growth FundPairCorr
  0.94SCWFX Smallcap WorldPairCorr
  0.82FBAFX American Funds AmericanPairCorr
  0.9FBJTX American Funds 2055PairCorr
  0.66FCETX American Funds 2030PairCorr
  0.9FCJTX American Funds 2055PairCorr
  0.9FCKTX American Funds 2060PairCorr
  0.98RAFBX Amcap Fund ClassPairCorr
  0.94RSEBX Smallcap WorldPairCorr

Moving against American Mutual Fund

  0.53FPPPX American Funds PresePairCorr
  0.53RPPFX American Funds PresePairCorr
  0.36CFAEX Bond FundPairCorr
  0.43CGTFX Us Government SecuritiesPairCorr
  0.42CGTCX Us Government SecuritiesPairCorr

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   
VGHCX
+ 0.95
PJHRX
PGHAX
+ 0.88
ECHSX
HGHYX
+ 0.84
RAGHX
RAGHX
+ 0.72
ECHSX
HGHYX
+ 0.71
ECHSX
PGHAX
+ 0.62
HGHYX
  
High negative correlations   
ECHSX
- 0.11
PJHRX

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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