American Funds Correlations

FMCMX Fund

USD 45.39 0.13 0.29%

The current 90-days correlation between American Funds Amcap and Gamco Global Telecommunications 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

Good diversification

The correlation between American Funds Amcap and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Amcap 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 Amcap. 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 population.

Moving together with American Mutual Fund

0.98	WSHFX	Washington Mutual	Pair Corr
0.96	REMTX	American Funds 2060	Pair Corr
0.92	RWMGX	Washington Mutual	Pair Corr
0.98	RGAGX	Growth Fund	Pair Corr
0.98	FAFGX	American Funds	Pair Corr
0.98	FFAFX	American Funds	Pair Corr
0.99	GFACX	Growth Fund	Pair Corr
0.94	GFAFX	Growth Fund	Pair Corr
0.94	AGTHX	Growth Fund	Pair Corr
0.94	CGFFX	Growth Fund	Pair Corr
0.99	CGFCX	Growth Fund	Pair Corr
0.98	CGFAX	Growth Fund	Pair Corr
0.94	CGFEX	Growth Fund	Pair Corr
0.94	RGAEX	Growth Fund	Pair Corr
0.65	WHIYX	Ivy High Income	Pair Corr
0.68	IVHIX	Ivy High Income	Pair Corr
0.66	IHIFX	Ivy High Income	Pair Corr
0.66	WRHIX	Ivy High Income	Pair Corr
0.65	WHIAX	Ivy High Income	Pair Corr
0.82	HPQ	HP Inc	Pair Corr
0.7	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.61	T	ATT Inc Aggressive Push	Pair Corr
0.86	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.75	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.9	CSCO	Cisco Systems	Pair Corr
0.87	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.67	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.7	DIS	Walt Disney Aggressive Push	Pair Corr

Moving against American Mutual Fund

0.71	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.61	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	GABTX	BCHIX	TIMTX	TUIXX	ICAXX	FHYVX	PATFX
GABTX		0.05	-0.07	0.51	0.0	0.27	0.12	GABTX
BCHIX	0.05		0.91	0.46	0.0	0.85	0.9	BCHIX
TIMTX	-0.07	0.91		0.32	0.0	0.91	0.96	TIMTX
TUIXX	0.51	0.46	0.32		0.0	0.49	0.41	TUIXX
ICAXX	0.0	0.0	0.0	0.0		0.0	0.0	ICAXX
FHYVX	0.27	0.85	0.91	0.49	0.0		0.94	FHYVX
PATFX	0.12	0.9	0.96	0.41	0.0	0.94		PATFX
	GABTX	BCHIX	TIMTX	TUIXX	ICAXX	FHYVX	PATFX

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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

PATFX	+ 0.96	TIMTX
PATFX	+ 0.94	FHYVX
TIMTX	+ 0.91	BCHIX
FHYVX	+ 0.91	TIMTX
PATFX	+ 0.9	BCHIX
FHYVX	+ 0.85	BCHIX

High negative correlations

TIMTX	- 0.07	GABTX
PATFX	- 0.0	ICAXX
FHYVX	- 0.0	ICAXX
ICAXX	- 0.0	TUIXX
ICAXX	- 0.0	TIMTX
ICAXX	- 0.0	BCHIX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GABTX	0.52	0.07	(0.02)	(3.64)	0.49	(0.60)	1.10	(1.00)	3.22
BCHIX	0.15	0.01	(0.19)	(0.04)	0.23	(0.22)	0.40	(0.40)	1.53
TIMTX	0.14	0.00	(0.24)	(0.03)	0.21	(0.21)	0.37	(0.28)	1.40
TUIXX	0.03	0.00	0.00	0.42	0.00	0.00	0.00	0.00	1.01
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FHYVX	0.16	0.01	(0.16)	0.22	0.22	(0.24)	0.34	(0.44)	1.88
PATFX	0.15	0.00	(0.19)	0.02	0.23	(0.23)	0.44	(0.35)	1.69

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