American Funds Correlations

GWPEX Fund

USD 27.35 0.16 0.59%

The current 90-days correlation between American Funds Growth and Income Fund Of is -0.01 (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

Very poor diversification

The correlation between American Funds Growth and DJI is 0.82 (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 Growth and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in American Funds Growth. 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 income.

Moving together with American Mutual Fund

0.87	AMECX	Income Fund	Pair Corr
0.87	AMFCX	American Mutual	Pair Corr
0.88	AMFFX	American Mutual	Pair Corr
0.73	RNCCX	American Funds Income	Pair Corr
0.99	RNGBX	New Economy Fund	Pair Corr
0.72	FPTPX	American Funds Conse	Pair Corr
0.93	RNNEX	New Economy Fund	Pair Corr
0.85	RNPAX	New Perspective	Pair Corr
0.93	RNPGX	New Perspective	Pair Corr
0.86	RNPCX	New Perspective	Pair Corr
0.94	AMRMX	American Mutual	Pair Corr
0.94	ANCFX	American Funds Funda	Pair Corr
0.92	NPFCX	New Perspective	Pair Corr
0.93	NPFFX	New Perspective	Pair Corr
0.89	PGGFX	American Funds Global	Pair Corr
0.93	ANWPX	New Perspective	Pair Corr
0.98	BALFX	American Balanced	Pair Corr
0.92	BALCX	American Balanced	Pair Corr
0.87	CWGIX	Capital World Growth	Pair Corr
0.87	CWGFX	Capital World Growth	Pair Corr
0.81	CWGCX	Capital World Growth	Pair Corr
0.91	WSHFX	Washington Mutual	Pair Corr
0.82	CWIFX	Capital World Growth	Pair Corr
0.86	CWICX	Capital World Growth	Pair Corr
0.85	RPEBX	New Perspective	Pair Corr
0.83	FAETX	American Funds 2030	Pair Corr
0.93	FAFGX	American Funds	Pair Corr
0.97	FAJTX	American Funds 2055	Pair Corr
1.0	CFNAX	American Funds Funda	Pair Corr

Moving against American Mutual Fund

0.67	AMUSX	Us Government Securities	Pair Corr
0.64	ANBEX	American Funds Strategic	Pair Corr
0.59	CWBFX	Capital World Bond	Pair Corr
0.35	FPPPX	American Funds Prese	Pair Corr
0.6	CFAAX	Bond Fund	Pair Corr

Related Correlations Analysis

	AMECX	RNEBX	AMFCX	AMFFX	RNCCX	FPPPX	AMEFX	RNGGX	RNGFX	RNGHX
AMECX		0.68	0.98	0.98	0.81	-0.12	0.93	0.9	0.86	0.9	AMECX
RNEBX	0.68		0.61	0.6	0.75	0.26	0.64	0.5	0.49	0.51	RNEBX
AMFCX	0.98	0.61		1.0	0.76	-0.2	0.9	0.92	0.87	0.93	AMFCX
AMFFX	0.98	0.6	1.0		0.76	-0.21	0.9	0.93	0.87	0.93	AMFFX
RNCCX	0.81	0.75	0.76	0.76		0.31	0.89	0.63	0.71	0.63	RNCCX
FPPPX	-0.12	0.26	-0.2	-0.21	0.31		-0.1	-0.43	-0.38	-0.43	FPPPX
AMEFX	0.93	0.64	0.9	0.9	0.89	-0.1		0.85	0.91	0.85	AMEFX
RNGGX	0.9	0.5	0.92	0.93	0.63	-0.43	0.85		0.94	1.0	RNGGX
RNGFX	0.86	0.49	0.87	0.87	0.71	-0.38	0.91	0.94		0.94	RNGFX
RNGHX	0.9	0.51	0.93	0.93	0.63	-0.43	0.85	1.0	0.94		RNGHX
	AMECX	RNEBX	AMFCX	AMFFX	RNCCX	FPPPX	AMEFX	RNGGX	RNGFX	RNGHX

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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

AMFFX	+ 1.0	AMFCX
RNGHX	+ 1.0	RNGGX
AMFCX	+ 0.98	AMECX
AMFFX	+ 0.98	AMECX
RNGFX	+ 0.94	RNGGX
RNGHX	+ 0.94	RNGFX

High negative correlations

RNGHX	- 0.43	FPPPX
RNGGX	- 0.43	FPPPX
RNGFX	- 0.38	FPPPX
FPPPX	- 0.21	AMFFX
FPPPX	- 0.2	AMFCX
FPPPX	- 0.12	AMECX

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	0.04	(0.21)	(13.79)	0.31	(0.36)	0.70	(0.72)	2.01
RNEBX	0.57	(0.02)	0.00	0.35	0.00	0.00	1.27	(1.32)	3.78
AMFCX	0.45	0.05	(0.14)	17.02	0.43	(0.51)	0.90	(0.88)	2.68
AMFFX	0.45	0.00	(0.14)	0.00	0.43	(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	(0.02)	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	0.68	0.05	(0.06)	3.55	1.00	(0.69)	1.46	(1.96)	4.07
RNGFX	0.67	(0.04)	(0.04)	0.08	0.97	(0.69)	1.47	(1.97)	4.06
RNGHX	0.68	0.05	(0.06)	3.38	1.00	(0.69)	1.47	(1.97)	4.07

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