American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Capital
FWBCX Fund  USD 16.13  0.03  0.19%   
The current 90-days correlation between American Funds Capital and Royce Opportunity Fund is -0.09 (i.e., Good 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 Capital and DJI is -0.17 (i.e., Good 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

  0.95FPPPX American Funds PresePairCorr
  0.65TEBCX Tax Exempt BondPairCorr
  0.71TECCX Tax Exempt FundPairCorr
  0.65TECFX Tax Exempt FundPairCorr
  0.62TEFEX Tax Exempt FundPairCorr
  0.98AMUSX Us Government SecuritiesPairCorr
  0.7TEPCX American Funds TaxPairCorr
  0.61TEPAX American Funds TaxPairCorr

Moving against American Mutual Fund

  0.65RNGGX New Economy FundPairCorr
  0.65RNGFX New Economy FundPairCorr
  0.65RNGHX New Economy FundPairCorr
  0.65RNGEX New Economy FundPairCorr
  0.65RNGCX New Economy FundPairCorr
  0.65RNNEX New Economy FundPairCorr
  0.65AMPFX Amcap Fund ClassPairCorr
  0.64RNGBX New Economy FundPairCorr
  0.64RNGAX New Economy FundPairCorr
  0.64AMPCX Amcap Fund ClassPairCorr
  0.53AMFFX American MutualPairCorr
  0.51AMFCX American MutualPairCorr
  0.49CDJAX American Funds CollegePairCorr
  0.45AMEFX Income FundPairCorr
  0.44AMECX Income FundPairCorr
  0.38RNPGX New PerspectivePairCorr
  0.37RNPHX New PerspectivePairCorr
  0.36RNPCX New PerspectivePairCorr
  0.34RNPBX New PerspectivePairCorr
  0.34RNPAX New PerspectivePairCorr
  0.68ANCFX American Funds FundaPairCorr
  0.65ANEFX New Economy FundPairCorr
  0.65ANFFX New Economy FundPairCorr
  0.64ANFCX New Economy FundPairCorr
  0.53AMRMX American MutualPairCorr
  0.53AMRFX American MutualPairCorr
  0.37RNPFX New PerspectivePairCorr
  0.37RNPEX New PerspectivePairCorr
  0.36NPFFX New PerspectivePairCorr
  0.34NPFCX New PerspectivePairCorr

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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