American Funds Correlations

FPTPX Fund

USD 13.63 0.04 0.29%

The current 90-days correlation between American Funds Conse and Income Fund Of is 0.95 (i.e., Almost no 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

Very poor diversification

The correlation between American Funds Conservative and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Conservative 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 Conservative. 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 american community survey.

Moving together with American Mutual Fund

0.92	AMECX	Income Fund	Pair Corr
0.79	RNEBX	New World Fund	Pair Corr
0.88	AMFCX	American Mutual	Pair Corr
0.87	AMFFX	American Mutual	Pair Corr
1.0	RNCCX	American Funds Income	Pair Corr
0.91	AMEFX	Income Fund	Pair Corr
0.61	RNGGX	New Economy Fund	Pair Corr
0.61	RNGFX	New Economy Fund	Pair Corr
0.61	RNGHX	New Economy Fund	Pair Corr
0.62	RNGBX	New Economy Fund	Pair Corr
0.62	RNGAX	New Economy Fund	Pair Corr
0.62	RNGEX	New Economy Fund	Pair Corr
0.75	RNGCX	New Economy Fund	Pair Corr
0.62	RNNEX	New Economy Fund	Pair Corr
0.87	CDJAX	American Funds College	Pair Corr
0.61	AMPCX	Amcap Fund Class	Pair Corr
0.77	RNPBX	New Perspective	Pair Corr
0.77	RNPAX	New Perspective	Pair Corr
0.76	RNPHX	New Perspective	Pair Corr
0.76	RNPGX	New Perspective	Pair Corr
0.76	RNPCX	New Perspective	Pair Corr
0.76	RNPFX	New Perspective	Pair Corr
0.76	RNPEX	New Perspective	Pair Corr
0.69	AMRMX	American Mutual	Pair Corr
0.68	AMRFX	American Mutual	Pair Corr
0.84	RNRPX	American Funds Retirement	Pair Corr
0.76	RNWFX	New World Fund	Pair Corr

Related Correlations Analysis

	AMECX	RNEBX	AMFCX	AMFFX	RNCCX	FPPPX	AMEFX	RNGGX	RNGFX	RNGHX
AMECX		0.65	0.98	0.98	0.9	-0.17	1.0	0.78	0.78	0.78	AMECX
RNEBX	0.65		0.57	0.56	0.8	0.27	0.65	0.43	0.43	0.43	RNEBX
AMFCX	0.98	0.57		1.0	0.86	-0.24	0.98	0.79	0.79	0.79	AMFCX
AMFFX	0.98	0.56	1.0		0.85	-0.25	0.98	0.79	0.79	0.79	AMFFX
RNCCX	0.9	0.8	0.86	0.85		0.25	0.89	0.59	0.59	0.59	RNCCX
FPPPX	-0.17	0.27	-0.24	-0.25	0.25		-0.17	-0.44	-0.44	-0.44	FPPPX
AMEFX	1.0	0.65	0.98	0.98	0.89	-0.17		0.78	0.78	0.78	AMEFX
RNGGX	0.78	0.43	0.79	0.79	0.59	-0.44	0.78		1.0	1.0	RNGGX
RNGFX	0.78	0.43	0.79	0.79	0.59	-0.44	0.78	1.0		1.0	RNGFX
RNGHX	0.78	0.43	0.79	0.79	0.59	-0.44	0.78	1.0	1.0		RNGHX
	AMECX	RNEBX	AMFCX	AMFFX	RNCCX	FPPPX	AMEFX	RNGGX	RNGFX	RNGHX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

AMEFX	+ 1.0	AMECX
AMFFX	+ 1.0	AMFCX
RNGFX	+ 1.0	RNGGX
RNGHX	+ 1.0	RNGGX
RNGHX	+ 1.0	RNGFX
AMFCX	+ 0.98	AMECX

High negative correlations

RNGHX	- 0.44	FPPPX
RNGFX	- 0.44	FPPPX
RNGGX	- 0.44	FPPPX
FPPPX	- 0.25	AMFFX
FPPPX	- 0.24	AMFCX
AMEFX	- 0.17	FPPPX

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
AMECX	0.32	(0.01)	(0.18)	0.10	0.30	(0.36)	0.70	(0.72)	2.01
RNEBX	0.56	(0.07)	0.00	(0.04)	0.00	0.00	1.27	(1.32)	3.78
AMFCX	0.46	(0.02)	(0.12)	0.09	0.42	(0.51)	0.90	(0.88)	2.68
AMFFX	0.46	(0.02)	(0.11)	0.09	0.42	(0.51)	0.91	(0.86)	2.68
RNCCX	0.25	(0.02)	(0.31)	0.05	0.26	(0.28)	0.52	(0.52)	1.42
FPPPX	0.11	(0.01)	0.00	0.43	0.00	0.00	0.21	(0.21)	0.84
AMEFX	0.33	(0.01)	(0.18)	0.10	0.32	(0.37)	0.70	(0.73)	2.01
RNGGX	0.66	0.06	(0.05)	1.39	0.96	(0.68)	1.46	(1.96)	4.07
RNGFX	0.67	0.06	(0.05)	1.50	0.96	(0.69)	1.47	(1.97)	4.06
RNGHX	0.66	0.06	(0.05)	1.42	0.96	(0.68)	1.47	(1.97)	4.07

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC