American Funds Correlations

INPFX Fund

USD 14.73 0.04 0.27%

The current 90-days correlation between American Funds Income and Neuberger Berman Genesis is 0.76 (i.e., Poor 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

Almost no diversification

The correlation between American Funds Income and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Income 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 Income. 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 price.

Moving together with American Mutual Fund

0.96	AMFFX	American Mutual	Pair Corr
0.76	CUSEX	Capital Group Equity	Pair Corr
0.89	AMHIX	American High Income	Pair Corr
0.88	TEBCX	Tax Exempt Bond	Pair Corr
0.86	TECCX	Tax Exempt Fund	Pair Corr
0.87	TECFX	Tax Exempt Fund	Pair Corr
0.79	AMUSX	Us Government Securities	Pair Corr
0.95	TEPCX	American Funds Tax	Pair Corr
0.95	TEPAX	American Funds Tax	Pair Corr
0.95	TEPFX	American Funds Tax	Pair Corr
0.95	EMGEX	Emerging Markets Growth	Pair Corr
0.83	ANBEX	American Funds Strategic	Pair Corr
0.84	ANBAX	American Funds Strategic	Pair Corr
0.78	ANBCX	American Funds Strategic	Pair Corr
0.81	ANFCX	New Economy Fund	Pair Corr
0.79	ANEFX	New Economy Fund	Pair Corr
0.81	ANFFX	New Economy Fund	Pair Corr
0.95	EMRGX	Emerging Markets Growth	Pair Corr
0.84	NPFCX	New Perspective	Pair Corr
0.85	NPFFX	New Perspective	Pair Corr
0.87	CWBFX	Capital World Bond	Pair Corr
0.88	CWBCX	Capital World Bond	Pair Corr
0.89	PGGAX	American Funds Global	Pair Corr
0.92	PGGFX	American Funds Global	Pair Corr
0.82	ANWPX	New Perspective	Pair Corr
0.97	BALFX	American Balanced	Pair Corr
0.94	BALCX	American Balanced	Pair Corr
0.94	CWGIX	Capital World Growth	Pair Corr
0.96	CWGFX	Capital World Growth	Pair Corr
0.96	CWGCX	Capital World Growth	Pair Corr
0.94	WSHFX	Washington Mutual	Pair Corr
0.91	WSHCX	Washington Mutual	Pair Corr
1.0	FAATX	American Funds 2010	Pair Corr
0.98	FAETX	American Funds 2030	Pair Corr

Related Correlations Analysis

	TAIFX	PQIAX	HSWYX	PGGFX	MGRAX	TQAAX	TQAIX	MGRDX	TLLIX	NBGNX
TAIFX		0.88	0.98	0.94	0.93	0.9	0.5	0.97	0.98	0.95	TAIFX
PQIAX	0.88		0.87	0.85	0.86	0.82	0.39	0.87	0.9	0.85	PQIAX
HSWYX	0.98	0.87		0.94	0.94	0.88	0.55	0.98	0.97	0.92	HSWYX
PGGFX	0.94	0.85	0.94		0.91	0.94	0.47	0.96	0.98	0.89	PGGFX
MGRAX	0.93	0.86	0.94	0.91		0.82	0.59	0.96	0.93	0.86	MGRAX
TQAAX	0.9	0.82	0.88	0.94	0.82		0.4	0.9	0.92	0.93	TQAAX
TQAIX	0.5	0.39	0.55	0.47	0.59	0.4		0.55	0.47	0.48	TQAIX
MGRDX	0.97	0.87	0.98	0.96	0.96	0.9	0.55		0.97	0.92	MGRDX
TLLIX	0.98	0.9	0.97	0.98	0.93	0.92	0.47	0.97		0.92	TLLIX
NBGNX	0.95	0.85	0.92	0.89	0.86	0.93	0.48	0.92	0.92		NBGNX
	TAIFX	PQIAX	HSWYX	PGGFX	MGRAX	TQAAX	TQAIX	MGRDX	TLLIX	NBGNX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TAIFX	0.26	0.06	(0.04)	(1.02)	0.18	(0.30)	0.53	(0.53)	1.77
PQIAX	0.70	0.25	0.25	10.67	0.25	(0.82)	1.53	(1.10)	11.59
HSWYX	0.60	0.09	0.02	(51.78)	0.62	(0.66)	1.20	(0.98)	3.13
PGGFX	0.61	0.09	0.02	(1.18)	0.67	(0.65)	1.22	(1.45)	3.79
MGRAX	0.56	0.04	(0.04)	2.43	0.62	(0.61)	1.18	(1.18)	3.00
TQAAX	0.87	0.15	0.08	5.81	0.81	(1.00)	1.84	(1.61)	5.58
TQAIX	0.82	0.08	0.09	0.16	0.76	(0.94)	1.48	(1.57)	5.55
MGRDX	0.54	0.06	(0.01)	(3.16)	0.56	(0.60)	1.20	(0.97)	2.98
TLLIX	0.49	0.09	0.02	(2.13)	0.50	(0.55)	1.02	(1.06)	3.12
NBGNX	0.77	0.13	0.09	1.91	0.63	(0.90)	2.11	(1.48)	4.55

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American Funds Correlations

American Funds Correlation With Market

Almost no diversification

Moving together with American Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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