American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Washington
FWWMX Fund  USD 64.51  0.54  0.84%   
The current 90-days correlation between American Funds Washington and Glg Intl Small is 0.58 (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

Modest diversification

The correlation between American Funds Washington 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 Washington 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 Washington. 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 population.

Moving together with American Mutual Fund

  0.69WHIYX Ivy High IncomePairCorr
  0.82IVHIX Ivy High IncomePairCorr
  0.81IHIFX Ivy High IncomePairCorr
  0.78WRHIX Ivy High IncomePairCorr
  0.77WHIAX Ivy High IncomePairCorr
  0.87CSJZX Cohen Steers RealtyPairCorr
  0.87CSRSX Cohen Steers RealtyPairCorr
  0.65GF New Germany ClosedPairCorr
  0.8HCVFX The Hartford ServativePairCorr
  0.76HICSX Harbor Vertible SecuPairCorr

Moving against American Mutual Fund

  0.45QMNNX Aqr Equity MarketPairCorr
  0.37CFRCX Catalyst/princetonPairCorr
  0.37NFFCX Nuveen Symphony FloatingPairCorr
  0.37CFOAX Calvert Floating RatePairCorr

Related Correlations Analysis

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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   
ANTMX
+ 0.93
JAADX
VYRDX
+ 0.73
ANTMX
NESGX
+ 0.55
GLVIX
VYRDX
+ 0.52
JAADX
JAADX
+ 0.36
GLVIX
VYRDX
+ 0.33
NESGX
  
High negative correlations   
VYRDX
- 0.0
CCMSX
ANTMX
- 0.0
CCMSX
CCMSX
- 0.0
NESGX
CCMSX
- 0.0
JAADX
CCMSX
- 0.0
GLVIX

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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