Amcap Fund Correlations

Mutual Funds . USA . 
Fund . Amcap Fund Class
RAFAX Fund  USD 36.37  0.26  0.72%   
The current 90-days correlation between Amcap Fund Class and New Economy Fund is 0.93 (i.e., Almost no 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 weak diversification

The correlation between Amcap Fund Class and DJI is 0.43 (i.e., Very weak 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 nation.

Moving together with Amcap Mutual Fund

  0.68RNGGX New Economy FundPairCorr
  0.68RNGFX New Economy FundPairCorr
  0.69RNGBX New Economy FundPairCorr
  0.69RNGAX New Economy FundPairCorr
  0.68RNGEX New Economy FundPairCorr
  0.68RNGCX New Economy FundPairCorr
  0.69RNNEX New Economy FundPairCorr
  0.66RNPBX New PerspectivePairCorr
  0.66RNPAX New PerspectivePairCorr
  0.65RNPGX New PerspectivePairCorr
  0.66RNPCX New PerspectivePairCorr
  0.65RNPFX New PerspectivePairCorr
  0.65RNPEX New PerspectivePairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RNEBX  0.67  0.16  0.19  0.28  0.43 
(0.73)
 1.60 
(1.25)
 7.64 
RNCCX  0.26  0.04  0.05  0.15  0.23 
(0.30)
 0.56 
(0.57)
 1.62 
FPPPX  0.08  0.00 (0.25) 0.00  0.00 
(0.12)
 0.21 
(0.11)
 0.32 
AMEFX  0.45  0.19  0.37  0.47  0.00 
(0.57)
 0.79 
(0.70)
 7.41 
RNGGX  0.82  0.03  0.02  0.07  1.16 
(0.73)
 1.71 
(1.82)
 4.53 
RNGFX  0.83  0.02  0.02  0.06  1.19 
(0.72)
 1.72 
(1.81)
 4.52 
RNGHX  0.96  0.20  0.14  0.33  0.95 
(0.97)
 1.81 
(1.81)
 12.70 
RNGBX  0.83  0.02  0.01  0.06  1.20 
(0.71)
 1.71 
(1.84)
 4.53 
RNGAX  0.82  0.02  0.01  0.06  1.17 
(0.72)
 1.71 
(1.83)
 4.53 
RNGEX  0.83  0.02  0.01  0.06  1.19 
(0.72)
 1.70 
(1.82)
 4.54 

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