American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds 2040
RBKTX Fund  USD 20.41  0.08  0.39%   
The current 90-days correlation between American Funds 2040 and Gabelli Global Financial is 0.61 (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

Good diversification

The correlation between American Funds 2040 and DJI is -0.04 (i.e., Good 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

  0.81AMECX Income FundPairCorr
  0.88RNEBX New World FundPairCorr
  0.69AMFCX American MutualPairCorr
  0.78AMFFX American MutualPairCorr
  0.88RNCCX American Funds IncomePairCorr
  0.71AMEFX Income FundPairCorr
  0.7RNGGX New Economy FundPairCorr
  0.7RNGFX New Economy FundPairCorr
  0.7RNGHX New Economy FundPairCorr
  0.66RNGBX New Economy FundPairCorr
  0.66RNGAX New Economy FundPairCorr
  0.7RNGEX New Economy FundPairCorr
  0.69RNGCX New Economy FundPairCorr
  0.72AMHIX American High IncomePairCorr
  0.7TEBCX Tax Exempt BondPairCorr
  0.69TECCX Tax Exempt FundPairCorr
  0.71TEAFX Tax Exempt BondPairCorr
  0.95FPTPX American Funds ConsePairCorr
  0.7TECFX Tax Exempt FundPairCorr
  0.7TEFEX Tax Exempt FundPairCorr
  0.69RNNEX New Economy FundPairCorr
  0.88CDJAX American Funds CollegePairCorr
  0.7AMPCX Amcap Fund ClassPairCorr
  0.75AMPFX Amcap Fund ClassPairCorr
  0.9RNPBX New PerspectivePairCorr
  0.9RNPAX New PerspectivePairCorr
  0.91RNPHX New PerspectivePairCorr
  0.91RNPGX New PerspectivePairCorr
  0.9RNPCX New PerspectivePairCorr
  0.91RNPFX New PerspectivePairCorr
  0.91RNPEX New PerspectivePairCorr
  0.7AMRMX American MutualPairCorr
  0.7AMRFX American MutualPairCorr
  0.75RNRPX American Funds RetirementPairCorr
  0.69AMUSX Us Government SecuritiesPairCorr
  0.78TEPCX American Funds TaxPairCorr
  0.73TEPAX American Funds TaxPairCorr
  0.72TEPFX American Funds TaxPairCorr
  0.89RNWFX 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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