American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Global
PGGFX Fund  USD 23.58  0.11  0.46%   
The current 90-days correlation between American Funds Global and American Funds Growth is 0.98 (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

Weak diversification

The correlation between American Funds Global and DJI is 0.34 (i.e., Weak 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

  0.76RNEBX New World FundPairCorr
  0.75AMFFX American MutualPairCorr
  0.82RNGGX New Economy FundPairCorr
  0.83RNGFX New Economy FundPairCorr
  0.82RNGHX New Economy FundPairCorr
  0.8RNGBX New Economy FundPairCorr
  0.8RNGAX New Economy FundPairCorr
  0.82RNGEX New Economy FundPairCorr
  0.93FPTPX American Funds ConsePairCorr
  0.88AMPFX Amcap Fund ClassPairCorr
  0.73AMRMX American MutualPairCorr
  0.73AMRFX American MutualPairCorr
  0.69AMUSX Us Government SecuritiesPairCorr
  0.81CWGFX Capital World GrowthPairCorr
  0.86WSHFX Washington MutualPairCorr
  0.96FAETX American Funds 2030PairCorr
  0.72WBFFX Capital World BondPairCorr
  0.93FAOTX American Funds 2020PairCorr
  0.97FAQTX American Funds 2035PairCorr
  0.93FAPTX American Funds 2025PairCorr
  0.97FATTX American Funds 2045PairCorr
  0.97FAUTX American Funds 2040PairCorr
  0.69CGTFX Us Government SecuritiesPairCorr
  0.71CGTCX Us Government SecuritiesPairCorr
  0.72RRPPX American Funds RetirementPairCorr
  0.72WFBFX Capital World BondPairCorr
  0.74BFAFX Bond FundPairCorr
  0.71BFIAX American Funds InflationPairCorr
  0.77ABNFX Bond FundPairCorr
  0.97RCNTX American Funds 2060PairCorr
  0.81RWBEX Capital World GrowthPairCorr
  0.81RWIBX Capital World GrowthPairCorr
  0.81RWIAX Capital World GrowthPairCorr
  0.81RWIHX Capital World GrowthPairCorr
  0.81RWIGX Capital World GrowthPairCorr
  0.81RWICX Capital World GrowthPairCorr

Related Correlations Analysis

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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.

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