American Funds Correlations

PGGFX Fund

USD 23.68 0.01 0.04%

The current 90-days correlation between American Funds Global and American Funds Growth 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

Good diversification

The correlation between American Funds Global and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Global and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in American Funds Global. 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

0.93	AMECX	Income Fund	Pair Corr
0.74	RNEBX	New World Fund	Pair Corr
0.93	AMFCX	American Mutual	Pair Corr
0.93	AMFFX	American Mutual	Pair Corr
0.76	RNCCX	American Funds Income	Pair Corr
0.87	FPTPX	American Funds Conse	Pair Corr
0.88	RNNEX	New Economy Fund	Pair Corr
0.91	RNPGX	New Perspective	Pair Corr
0.66	RNWGX	New World Fund	Pair Corr
0.95	ANCFX	American Funds Funda	Pair Corr
0.91	BALFX	American Balanced	Pair Corr
0.91	BALCX	American Balanced	Pair Corr
0.89	CWGIX	Capital World Growth	Pair Corr
0.89	CWGFX	Capital World Growth	Pair Corr
0.98	CWGCX	Capital World Growth	Pair Corr
0.98	CWIFX	Capital World Growth	Pair Corr
0.99	RPEBX	New Perspective	Pair Corr
0.89	FAFGX	American Funds	Pair Corr
0.89	CFNAX	American Funds Funda	Pair Corr
0.96	GWPAX	American Funds Growth	Pair Corr
0.9	GWPCX	American Funds Growth	Pair Corr
0.9	GWPFX	American Funds Growth	Pair Corr
0.89	GFACX	Growth Fund	Pair Corr
0.84	GFAFX	Growth Fund	Pair Corr
0.79	SCWCX	American Fds Smallcap	Pair Corr
0.98	FBAFX	American Funds American	Pair Corr
0.84	CGFEX	Growth Fund	Pair Corr
0.84	CGFFX	Growth Fund	Pair Corr
0.89	CGFCX	Growth Fund	Pair Corr
0.89	CGFAX	Growth Fund	Pair Corr
0.98	FBONX	American Funds American	Pair Corr
0.96	CGRGX	American Funds Growth	Pair Corr

Moving against American Mutual Fund

0.52	AMUSX	Us Government Securities	Pair Corr
0.43	ANBEX	American Funds Strategic	Pair Corr
0.41	CWBFX	Capital World Bond	Pair Corr
0.52	CGTCX	Us Government Securities	Pair Corr
0.52	CGTAX	Us Government Securities	Pair Corr
0.51	CFAAX	Bond Fund	Pair Corr

Related Correlations Analysis

	GWPFX	GAIFX	BLPFX	INPFX	PPVFX
GWPFX		0.91	0.87	0.76	-0.41	GWPFX
GAIFX	0.91		0.87	0.8	-0.24	GAIFX
BLPFX	0.87	0.87		0.96	0.02	BLPFX
INPFX	0.76	0.8	0.96		0.24	INPFX
PPVFX	-0.41	-0.24	0.02	0.24		PPVFX
	GWPFX	GAIFX	BLPFX	INPFX	PPVFX

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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

INPFX	+ 0.96	BLPFX
GAIFX	+ 0.91	GWPFX
BLPFX	+ 0.87	GWPFX
BLPFX	+ 0.87	GAIFX
INPFX	+ 0.8	GAIFX
INPFX	+ 0.76	GWPFX

High negative correlations

PPVFX	- 0.41	GWPFX
PPVFX	- 0.24	GAIFX

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
GWPFX	0.62	(0.03)	(0.04)	0.07	0.84	(0.61)	1.29	(1.59)	3.75
GAIFX	0.43	0.03	(0.12)	(1.49)	0.53	(0.47)	0.92	(0.96)	2.62
BLPFX	0.36	(0.04)	(0.17)	0.02	0.45	(0.39)	0.81	(0.81)	2.28
INPFX	0.26	(0.02)	(0.26)	0.03	0.27	(0.30)	0.52	(0.58)	1.41
PPVFX	0.11	(0.01)	0.00	0.66	0.00	0.00	0.21	(0.21)	0.84

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