American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds 2040
RBKTX Fund  USD 20.45  0.23  1.14%   
The current 90-days correlation between American Funds 2040 and Glg Intl Small is 0.67 (i.e., Poor diversification). The correlation of American Funds 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.

American Funds Correlation With Market

Modest diversification

The correlation between American Funds 2040 and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds 2040 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 American Funds 2040. 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 estimate.

Moving together with American Mutual Fund

  0.74AMECX Income FundPairCorr
  0.7RNEBX New World FundPairCorr
  0.75AMFCX American MutualPairCorr
  0.77AMFFX American MutualPairCorr
  0.92RNCCX American Funds IncomePairCorr
  0.74AMEFX Income FundPairCorr
  0.85RNGGX New Economy FundPairCorr
  0.86RNGFX New Economy FundPairCorr
  0.85RNGHX New Economy FundPairCorr
  0.83RNGBX New Economy FundPairCorr
  0.83RNGAX New Economy FundPairCorr
  0.85RNGEX New Economy FundPairCorr
  0.84RNGCX New Economy FundPairCorr
  0.66AMHIX American High IncomePairCorr
  0.69TEBCX Tax Exempt BondPairCorr
  0.68TECCX Tax Exempt FundPairCorr
  0.65TEAFX Tax Exempt BondPairCorr
  0.93FPTPX American Funds ConsePairCorr
  0.64TECFX Tax Exempt FundPairCorr
  0.64TEFEX Tax Exempt FundPairCorr
  0.85RNNEX New Economy FundPairCorr
  0.96CDJAX American Funds CollegePairCorr
  0.89AMPCX Amcap Fund ClassPairCorr
  0.91AMPFX Amcap Fund ClassPairCorr
  0.92RNPBX New PerspectivePairCorr
  0.92RNPAX New PerspectivePairCorr
  0.93RNPHX New PerspectivePairCorr
  0.93RNPGX New PerspectivePairCorr
  0.93RNPCX New PerspectivePairCorr
  0.93RNPFX New PerspectivePairCorr
  0.93RNPEX New PerspectivePairCorr
  0.76AMRMX American MutualPairCorr
  0.76AMRFX American MutualPairCorr
  0.82RNRPX American Funds RetirementPairCorr
  0.65AMUSX Us Government SecuritiesPairCorr
  0.66TEPCX American Funds TaxPairCorr
  0.7RNWFX New World FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American Funds 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 American Funds' 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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