American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Growth
FPGGX Fund  USD 27.34  0.19  0.70%   
The current 90-days correlation between American Funds Growth and Pace Large Value is 0.05 (i.e., Significant 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

Significant diversification

The correlation between American Funds Growth and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Growth 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 Growth. 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

  0.87AMECX Income FundPairCorr
  0.94AMFCX American MutualPairCorr
  0.95AMFFX American MutualPairCorr
  0.73RNCCX American Funds IncomePairCorr
  0.87AMEFX Income FundPairCorr
  0.99RNGGX New Economy FundPairCorr
  0.93RNGFX New Economy FundPairCorr
  0.99RNGHX New Economy FundPairCorr
  0.93RNGBX New Economy FundPairCorr
  0.93RNGAX New Economy FundPairCorr
  0.93RNGEX New Economy FundPairCorr
  0.93RNGCX New Economy FundPairCorr
  0.76FPTPX American Funds ConsePairCorr
  0.93RNNEX New Economy FundPairCorr
  0.94AMPCX Amcap Fund ClassPairCorr
  0.94AMPFX Amcap Fund ClassPairCorr
  0.84RNPBX New PerspectivePairCorr
  0.84RNPAX New PerspectivePairCorr
  0.85RNPHX New PerspectivePairCorr
  0.85RNPGX New PerspectivePairCorr
  0.85RNPFX New PerspectivePairCorr
  0.92RNPEX New PerspectivePairCorr
  0.9AMRMX American MutualPairCorr
  0.9AMRFX American MutualPairCorr

Moving against American Mutual Fund

  0.46FPPPX American Funds PresePairCorr
  0.7AMUSX Us Government SecuritiesPairCorr
  0.68ANBEX American Funds StrategicPairCorr

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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