American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds 2045
FATTX Fund  USD 21.64  0.07  0.32%   
The current 90-days correlation between American Funds 2045 and Davenport Small Cap is 0.63 (i.e., Poor 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 2045 and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds 2045 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 2045. 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 estimate.

Moving together with American Mutual Fund

  0.75AMECX Income FundPairCorr
  0.7RNEBX New World FundPairCorr
  0.74AMFCX American MutualPairCorr
  0.74AMFFX American MutualPairCorr
  0.94RNCCX American Funds IncomePairCorr
  0.75AMEFX Income FundPairCorr
  0.8RNGGX New Economy FundPairCorr
  0.82RNGFX New Economy FundPairCorr
  0.82RNGHX New Economy FundPairCorr
  0.78RNGBX New Economy FundPairCorr
  0.78RNGAX New Economy FundPairCorr
  0.81RNGEX New Economy FundPairCorr
  0.79RNGCX New Economy FundPairCorr
  0.65AMHIX American High IncomePairCorr
  0.66TEBCX Tax Exempt BondPairCorr
  0.64TECCX Tax Exempt FundPairCorr
  0.64TEAFX Tax Exempt BondPairCorr
  0.95FPTPX American Funds ConsePairCorr
  0.62TECFX Tax Exempt FundPairCorr
  0.62TEFEX Tax Exempt FundPairCorr
  0.8RNNEX New Economy FundPairCorr
  0.97CDJAX American Funds CollegePairCorr
  0.86AMPCX Amcap Fund ClassPairCorr
  0.89AMPFX Amcap Fund ClassPairCorr
  0.91RNPBX New PerspectivePairCorr
  0.91RNPAX 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
  0.74AMRFX American MutualPairCorr
  0.83RNRPX American Funds RetirementPairCorr
  0.7AMUSX Us Government SecuritiesPairCorr
  0.66TEPCX American Funds TaxPairCorr
  0.71RNWFX New World 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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