American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Growth
GWPFX Fund  USD 26.99  0.10  0.37%   
The current 90-days correlation between American Funds Growth and Ips Strategic Capital is 0.96 (i.e., Almost no 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 census.

Moving together with American Mutual Fund

  0.86AMECX Income FundPairCorr
  0.87AMFCX American MutualPairCorr
  0.87AMFFX American MutualPairCorr
  0.74RNCCX American Funds IncomePairCorr
  0.99RNGBX New Economy FundPairCorr
  0.73FPTPX American Funds ConsePairCorr
  0.99RNNEX New Economy FundPairCorr
  0.92RNPAX New PerspectivePairCorr
  0.94RNPGX New PerspectivePairCorr
  0.86RNPCX New PerspectivePairCorr
  0.94AMRMX American MutualPairCorr
  0.94ANCFX American Funds FundaPairCorr
  0.92NPFCX New PerspectivePairCorr
  0.93NPFFX New PerspectivePairCorr
  0.9PGGFX American Funds GlobalPairCorr
  0.93ANWPX New PerspectivePairCorr
  0.98BALFX American BalancedPairCorr
  0.98BALCX American BalancedPairCorr
  0.88CWGIX Capital World GrowthPairCorr
  0.88CWGFX Capital World GrowthPairCorr
  0.82CWGCX Capital World GrowthPairCorr
  0.91WSHFX Washington MutualPairCorr
  0.83CWIFX Capital World GrowthPairCorr
  0.87CWICX Capital World GrowthPairCorr
  0.86RPEBX New PerspectivePairCorr
  0.84FAETX American Funds 2030PairCorr
  0.93FAFGX American FundsPairCorr
  0.97FAJTX American Funds 2055PairCorr
  1.0CFNAX American Funds FundaPairCorr

Moving against American Mutual Fund

  0.65AMUSX Us Government SecuritiesPairCorr
  0.58ANBEX American Funds StrategicPairCorr
  0.58CWBFX Capital World BondPairCorr
  0.31FPPPX American Funds PresePairCorr
  0.63CFAAX Bond FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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