American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Smallcap
FSFWX Fund  USD 72.30  1.12  1.57%   
The current 90-days correlation between American Funds Smallcap and Tekla Healthcare Opportunities is 0.48 (i.e., Very weak 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 Smallcap and DJI is 0.81 (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 Smallcap 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 Smallcap. 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 housing.

Moving together with American Mutual Fund

  0.85AMECX Income FundPairCorr
  0.67RNEBX New World FundPairCorr
  0.83AMFCX American MutualPairCorr
  0.83AMFFX American MutualPairCorr
  0.87RNCCX American Funds IncomePairCorr
  0.85AMEFX Income FundPairCorr
  0.81RNGGX New Economy FundPairCorr
  0.81RNGFX New Economy FundPairCorr
  0.81RNGHX New Economy FundPairCorr
  0.81RNGBX New Economy FundPairCorr
  0.81RNGAX New Economy FundPairCorr
  0.81RNGEX New Economy FundPairCorr
  0.81RNGCX New Economy FundPairCorr
  0.88FPTPX American Funds ConsePairCorr
  0.81RNNEX New Economy FundPairCorr
  0.91CDJAX American Funds CollegePairCorr
  0.83AMPCX Amcap Fund ClassPairCorr
  0.82AMPFX Amcap Fund ClassPairCorr
  0.92RNPBX New PerspectivePairCorr
  0.92RNPAX New PerspectivePairCorr
  0.91RNPHX New PerspectivePairCorr
  0.91RNPGX New PerspectivePairCorr
  0.92RNPCX New PerspectivePairCorr
  0.91RNPFX New PerspectivePairCorr
  0.91RNPEX New PerspectivePairCorr
  0.82AMRMX American MutualPairCorr
  0.82AMRFX American MutualPairCorr
  0.84RNRPX American Funds RetirementPairCorr
  0.68RNWFX 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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