Amcap Fund Correlations

Mutual Funds . USA . 
Fund . Amcap Fund Class
RAEBX Fund  USD 43.41  0.18  0.41%   
The current 90-days correlation between Amcap Fund Class and Aquila Three Peaks is 0.1 (i.e., Average diversification). The correlation of Amcap Fund 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.

Amcap Fund Correlation With Market

Very poor diversification

The correlation between Amcap Fund Class and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amcap Fund Class 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 Amcap Fund Class. 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 bureau of labor statistics.

Moving together with Amcap Mutual Fund

  0.84RNEBX New World FundPairCorr
  0.8RNCCX American Funds IncomePairCorr
  0.77FPPPX American Funds PresePairCorr
  0.9RNGCX New Economy FundPairCorr
  0.8FPTPX American Funds ConsePairCorr
  0.86RNNEX New Economy FundPairCorr
  0.9RNPAX New PerspectivePairCorr
  0.9RNPHX New PerspectivePairCorr
  0.9RNPGX New PerspectivePairCorr
  0.9RNPCX New PerspectivePairCorr
  0.9RNPFX New PerspectivePairCorr
  0.87AMRFX American MutualPairCorr
  0.79RNRPX American Funds RetirementPairCorr
  0.84RNWEX New World FundPairCorr
  0.84RNWHX New World FundPairCorr
  0.84RNWGX New World FundPairCorr
  0.9ANWFX New PerspectivePairCorr
  0.84CEUAX Europacific GrowthPairCorr
  0.88CWICX Capital World GrowthPairCorr
  0.86CWIAX Capital World GrowthPairCorr
  0.88CWMAX Washington MutualPairCorr
  0.84PGWFX American Funds GlobalPairCorr
  0.64HIMFX American High IncomePairCorr
  0.9RPEBX New PerspectivePairCorr
  0.91FAFGX American FundsPairCorr
  0.62FAX Aberdeen Asia PacificPairCorr
  0.81FAHHX American Funds AmericanPairCorr
  0.84FAIFX American FundsPairCorr
  0.78CFNAX American Funds FundaPairCorr
  0.85GWPDX American Funds GrowthPairCorr
  0.89GWPEX American Funds GrowthPairCorr
  0.87FAXTX American Funds 2065PairCorr
  0.91GFFFX Growth FundPairCorr
  0.89FBAFX American Funds AmericanPairCorr
  0.62FSUUX American Funds GovernmentPairCorr
  0.91CGFEX Growth FundPairCorr
  0.91CGFFX Growth FundPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Amcap Mutual Fund performing well and Amcap Fund 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 Amcap Fund's 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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