Amcap Fund Correlations

Mutual Funds . USA . 
Fund . Amcap Fund Class
RAFGX Fund  USD 47.26  0.23  0.49%   
The current 90-days correlation between Amcap Fund Class and Ab Value Fund is 0.04 (i.e., Significant 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

  0.91AMECX Income FundPairCorr
  0.87AMFCX American MutualPairCorr
  0.88AMFFX American MutualPairCorr
  0.71RNCCX American Funds IncomePairCorr
  0.91AMEFX Income FundPairCorr
  0.93RNGGX New Economy FundPairCorr
  0.98RNGFX New Economy FundPairCorr
  0.93RNGHX New Economy FundPairCorr
  0.98RNGBX New Economy FundPairCorr
  0.98RNGAX New Economy FundPairCorr
  0.98RNGEX New Economy FundPairCorr
  0.98RNGCX New Economy FundPairCorr
  0.7FPTPX American Funds ConsePairCorr
  0.98RNNEX New Economy FundPairCorr
  0.96CDJAX American Funds CollegePairCorr
  1.0AMPCX Amcap Fund ClassPairCorr
  1.0AMPFX Amcap Fund ClassPairCorr
  0.9RNPBX New PerspectivePairCorr
  0.9RNPAX New PerspectivePairCorr
  0.85RNPHX New PerspectivePairCorr
  0.91RNPGX New PerspectivePairCorr
  0.9RNPCX New PerspectivePairCorr
  0.91RNPFX New PerspectivePairCorr
  0.91RNPEX New PerspectivePairCorr
  0.94AMRMX American MutualPairCorr
  0.94AMRFX American MutualPairCorr
  0.61RNRPX American Funds RetirementPairCorr

Moving against Amcap Mutual Fund

  0.4FPPPX American Funds PresePairCorr
  0.68AMUSX Us Government SecuritiesPairCorr
  0.66ANBEX American Funds StrategicPairCorr
  0.66ANBAX American Funds StrategicPairCorr
  0.66ANBCX American Funds StrategicPairCorr
  0.65ANBGX American Funds StrategicPairCorr
  0.65ANBFX American Funds StrategicPairCorr

Related Correlations Analysis

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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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