American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Capital
FWBCX Fund  USD 15.71  0.03  0.19%   
The current 90-days correlation between American Funds Capital and Health Care Ultrasector is 0.3 (i.e., 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

Modest diversification

The correlation between American Funds Capital and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Capital 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 Capital. 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 main economic indicators.

Moving together with American Mutual Fund

  0.84AMECX Income FundPairCorr
  0.93RNEBX New World FundPairCorr
  0.87AMFCX American MutualPairCorr
  0.87AMFFX American MutualPairCorr
  0.82RNCCX American Funds IncomePairCorr
  0.84AMEFX Income FundPairCorr
  0.82RNGGX New Economy FundPairCorr
  0.83RNGFX New Economy FundPairCorr
  0.83RNGHX New Economy FundPairCorr
  0.85RNGBX New Economy FundPairCorr
  0.85RNGAX New Economy FundPairCorr
  0.83RNGEX New Economy FundPairCorr
  0.82RNGCX New Economy FundPairCorr
  0.62TEBCX Tax Exempt BondPairCorr
  0.64TECCX Tax Exempt FundPairCorr
  0.8FPTPX American Funds ConsePairCorr
  0.84RNNEX New Economy FundPairCorr
  0.78AMPCX Amcap Fund ClassPairCorr
  0.73AMPFX Amcap Fund ClassPairCorr
  0.8RNPBX New PerspectivePairCorr
  0.81RNPAX New PerspectivePairCorr
  0.78RNPHX New PerspectivePairCorr
  0.78RNPGX New PerspectivePairCorr
  0.79RNPCX New PerspectivePairCorr
  0.78RNPFX New PerspectivePairCorr
  0.78RNPEX New PerspectivePairCorr
  0.85AMRMX American MutualPairCorr
  0.85AMRFX American MutualPairCorr
  0.84AMUSX Us Government SecuritiesPairCorr
  0.93RNWFX 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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