Amcap Fund Correlations

RAFFX Fund

USD 46.15 0.02 0.04%

The current 90-days correlation between Amcap Fund Class and Smallcap World Fund is 0.64 (i.e., Poor 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 0.81 (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 price.

Moving together with Amcap Mutual Fund

0.77	RNEBX	New World Fund	Pair Corr
0.72	RNCCX	American Funds Income	Pair Corr
0.62	FPPPX	American Funds Prese	Pair Corr
0.79	AMEFX	Income Fund	Pair Corr
0.9	RNGGX	New Economy Fund	Pair Corr
0.9	RNGFX	New Economy Fund	Pair Corr
0.9	RNGHX	New Economy Fund	Pair Corr
0.9	RNGBX	New Economy Fund	Pair Corr
0.9	RNGAX	New Economy Fund	Pair Corr
0.9	RNGEX	New Economy Fund	Pair Corr
0.9	RNGCX	New Economy Fund	Pair Corr
0.72	FPTPX	American Funds Conse	Pair Corr
0.87	RNNEX	New Economy Fund	Pair Corr
0.84	CDJAX	American Funds College	Pair Corr
0.89	RNPBX	New Perspective	Pair Corr
0.89	RNPAX	New Perspective	Pair Corr
0.89	RNPHX	New Perspective	Pair Corr
0.9	RNPGX	New Perspective	Pair Corr
0.9	RNPCX	New Perspective	Pair Corr
0.9	RNPFX	New Perspective	Pair Corr
0.89	RNPEX	New Perspective	Pair Corr
0.83	AMRFX	American Mutual	Pair Corr
0.72	RNRPX	American Funds Retirement	Pair Corr
0.77	RNWFX	New World Fund	Pair Corr
0.77	RNWEX	New World Fund	Pair Corr
0.77	RNWHX	New World Fund	Pair Corr
0.77	RNWGX	New World Fund	Pair Corr
0.77	RNWBX	New World Fund	Pair Corr
0.77	RNWAX	New World Fund	Pair Corr
0.77	RNWCX	New World Fund	Pair Corr
0.62	CEAMX	Short Term Bond	Pair Corr

Related Correlations Analysis

	AMCPX	AMPCX	PRUFX	TRSAX	RRBGX	RRGSX	PABGX	TBCIX	RLLGX	SMCWX
AMCPX		1.0	0.92	0.07	0.91	0.92	0.29	0.9	0.82	0.82	AMCPX
AMPCX	1.0		0.94	0.01	0.9	0.94	0.24	0.89	0.83	0.83	AMPCX
PRUFX	0.92	0.94		0.01	0.94	1.0	0.21	0.92	0.72	0.72	PRUFX
TRSAX	0.07	0.01	0.01		0.33	-0.03	0.91	0.38	-0.38	-0.38	TRSAX
RRBGX	0.91	0.9	0.94	0.33		0.93	0.51	1.0	0.57	0.57	RRBGX
RRGSX	0.92	0.94	1.0	-0.03	0.93		0.18	0.91	0.73	0.73	RRGSX
PABGX	0.29	0.24	0.21	0.91	0.51	0.18		0.56	-0.15	-0.15	PABGX
TBCIX	0.9	0.89	0.92	0.38	1.0	0.91	0.56		0.54	0.55	TBCIX
RLLGX	0.82	0.83	0.72	-0.38	0.57	0.73	-0.15	0.54		1.0	RLLGX
SMCWX	0.82	0.83	0.72	-0.38	0.57	0.73	-0.15	0.55	1.0		SMCWX
	AMCPX	AMPCX	PRUFX	TRSAX	RRBGX	RRGSX	PABGX	TBCIX	RLLGX	SMCWX

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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

AMPCX	+ 1.0	AMCPX
RRGSX	+ 1.0	PRUFX
TBCIX	+ 1.0	RRBGX
SMCWX	+ 1.0	RLLGX
PRUFX	+ 0.94	AMPCX
RRGSX	+ 0.94	AMPCX

High negative correlations

SMCWX	- 0.38	TRSAX
RLLGX	- 0.38	TRSAX
SMCWX	- 0.15	PABGX
RLLGX	- 0.15	PABGX
RRGSX	- 0.03	TRSAX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AMCPX	0.70	(0.02)	(0.03)	0.03	0.96	(0.71)	1.35	(1.78)	5.26
AMPCX	0.71	0.00	(0.01)	0.06	0.93	(0.77)	1.32	(1.80)	6.71
PRUFX	0.96	0.02	0.03	0.08	1.07	(1.04)	1.38	(2.00)	17.71
TRSAX	0.75	(0.18)	0.00	(0.20)	0.00	0.00	1.38	(2.02)	4.97
RRBGX	0.85	(0.09)	0.00	(0.03)	0.00	0.00	1.49	(1.99)	8.67
RRGSX	1.00	0.05	0.06	0.10	1.04	(1.11)	1.38	(2.02)	20.23
PABGX	0.92	(0.16)	0.00	(0.17)	0.00	0.00	1.50	(2.01)	10.73
TBCIX	0.84	(0.09)	0.00	(0.04)	0.00	0.00	1.50	(1.99)	7.92
RLLGX	0.77	0.13	0.14	0.20	0.55	(0.87)	1.53	(1.23)	6.70
SMCWX	0.77	0.13	0.15	0.20	0.54	(0.87)	1.52	(1.25)	6.89

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