Amcap Fund Correlations

Mutual Funds . USA . 
Fund . Amcap Fund Class
RAFCX Fund  USD 44.26  0.37  0.84%   
The current 90-days correlation between Amcap Fund Class and Schwab Health Care is 0.19 (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 weak diversification

The correlation between Amcap Fund Class and DJI is 0.47 (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 unemployment.

Moving together with Amcap Mutual Fund

  0.7RNEBX New World FundPairCorr
  0.93AMEFX Income FundPairCorr
  0.95RNGGX New Economy FundPairCorr
  0.95RNGFX New Economy FundPairCorr
  0.94RNGHX New Economy FundPairCorr
  0.72RNGBX New Economy FundPairCorr
  0.94RNGAX New Economy FundPairCorr
  0.94RNGEX New Economy FundPairCorr
  0.84RNPBX New PerspectivePairCorr
  0.92RNPAX New PerspectivePairCorr
  0.85RNPGX New PerspectivePairCorr
  0.74RNPCX New PerspectivePairCorr
  0.85RNPFX New PerspectivePairCorr
  0.94AMRFX American MutualPairCorr
  0.91RNWEX New World FundPairCorr
  0.91RNWGX New World FundPairCorr
  0.83RNWBX New World FundPairCorr
  0.83RNWCX New World FundPairCorr
  0.67CDWFX American Funds DevelopingPairCorr
  0.65CDWCX American Funds DevelopingPairCorr
  0.85ANWFX New PerspectivePairCorr
  0.76TXEFX American Funds TaxPairCorr
  0.9CEUCX Europacific GrowthPairCorr
  0.88CWIFX Capital World GrowthPairCorr
  0.74CWICX Capital World GrowthPairCorr
  0.94CWIAX Capital World GrowthPairCorr
  0.91CEUFX Europacific GrowthPairCorr
  0.84CEUEX Europacific GrowthPairCorr
  0.83HIGFX American High IncomePairCorr
  0.95CWMEX Washington MutualPairCorr

Moving against Amcap Mutual Fund

  0.68CENFX American Funds LegePairCorr
  0.68CENCX American Funds LegePairCorr
  0.68CENAX American Funds LegePairCorr
  0.68FAADX American Funds CollegePairCorr
  0.63FAFGX American FundsPairCorr

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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