American Funds Correlations

RFNFX Fund

USD 84.62 0.81 0.97%

The current 90-days correlation between American Funds Funda and Arrow Managed Futures is 0.18 (i.e., Average 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 Fundamental and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Fundamental 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 Fundamental. 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 census.

Moving together with American Mutual Fund

0.77	AMECX	Income Fund	Pair Corr
0.81	RNEBX	New World Fund	Pair Corr
0.9	AMFCX	American Mutual	Pair Corr
0.9	AMFFX	American Mutual	Pair Corr
0.82	RNCCX	American Funds Income	Pair Corr
0.96	RNGGX	New Economy Fund	Pair Corr
0.86	RNGFX	New Economy Fund	Pair Corr
0.86	RNGHX	New Economy Fund	Pair Corr
0.85	RNGBX	New Economy Fund	Pair Corr
0.85	RNGAX	New Economy Fund	Pair Corr
0.86	RNGEX	New Economy Fund	Pair Corr
0.66	AMHIX	American High Income	Pair Corr
0.65	TEFEX	Tax Exempt Fund	Pair Corr
0.81	AMRMX	American Mutual	Pair Corr
0.81	RNWFX	New World Fund	Pair Corr
0.9	ANCFX	American Funds Funda	Pair Corr
0.85	ANFCX	New Economy Fund	Pair Corr
0.65	TFEBX	Tax Exempt Bond	Pair Corr
0.93	ANWPX	New Perspective	Pair Corr
0.82	BALCX	American Balanced	Pair Corr
0.85	CWGIX	Capital World Growth	Pair Corr
0.92	WSHFX	Washington Mutual	Pair Corr
0.84	CWICX	Capital World Growth	Pair Corr
0.92	CWMAX	Washington Mutual	Pair Corr
0.64	GVTFX	Us Government Securities	Pair Corr
0.89	FAFGX	American Funds	Pair Corr
0.64	FAX	Aberdeen Asia Pacific	Pair Corr
0.87	CFIHX	Capital Income Builder	Pair Corr
0.85	TYIFX	American Funds Tax	Pair Corr
0.98	GFAFX	Growth Fund	Pair Corr
0.81	SCWFX	Smallcap World	Pair Corr
0.89	CGFFX	Growth Fund	Pair Corr
0.79	CGPEX	American Funds Growth	Pair Corr
0.66	CGTFX	Us Government Securities	Pair Corr
0.68	CGTCX	Us Government Securities	Pair Corr

Related Correlations Analysis

	MFTFX	RETSX	FURYAX	FTUFOX	WMCANX	FFCDAX	FDZBPX	FBANJX
MFTFX		0.41	-0.39	-0.48	-0.4	-0.35	-0.27	-0.38	MFTFX
RETSX	0.41		0.31	0.24	0.36	0.21	0.36	0.34	RETSX
FURYAX	-0.39	0.31		0.3	0.75	0.32	0.65	0.79	FURYAX
FTUFOX	-0.48	0.24	0.3		0.55	0.68	0.58	0.66	FTUFOX
WMCANX	-0.4	0.36	0.75	0.55		0.49	0.7	0.76	WMCANX
FFCDAX	-0.35	0.21	0.32	0.68	0.49		0.81	0.71	FFCDAX
FDZBPX	-0.27	0.36	0.65	0.58	0.7	0.81		0.84	FDZBPX
FBANJX	-0.38	0.34	0.79	0.66	0.76	0.71	0.84		FBANJX
	MFTFX	RETSX	FURYAX	FTUFOX	WMCANX	FFCDAX	FDZBPX	FBANJX

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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

FBANJX	+ 0.84	FDZBPX
FDZBPX	+ 0.81	FFCDAX
FBANJX	+ 0.79	FURYAX
FBANJX	+ 0.76	WMCANX
WMCANX	+ 0.75	FURYAX
FBANJX	+ 0.71	FFCDAX

High negative correlations

FTUFOX	- 0.48	MFTFX
WMCANX	- 0.4	MFTFX
FURYAX	- 0.39	MFTFX
FBANJX	- 0.38	MFTFX
FFCDAX	- 0.35	MFTFX
FDZBPX	- 0.27	MFTFX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MFTFX	1.01	0.12	0.01	(0.90)	1.42	(1.00)	1.82	(2.26)	5.15
RETSX	0.58	0.02	(0.04)	0.15	0.79	(0.61)	1.19	(1.46)	5.40
FURYAX	0.54	0.22	0.16	(27.46)	0.34	(0.74)	1.21	(1.31)	2.27
FTUFOX	0.09	0.00	(0.67)	0.20	0.00	(0.11)	0.22	(0.11)	0.57
WMCANX	0.50	0.13	0.00	1.04	0.00	0.00	1.07	(0.93)	2.41
FFCDAX	0.15	0.00	(0.24)	(0.84)	0.27	(0.16)	0.21	(0.21)	1.03
FDZBPX	0.39	0.04	(0.06)	(5.15)	0.56	(0.44)	0.70	(0.70)	2.21
FBANJX	0.51	0.02	(0.07)	0.28	0.78	(0.51)	1.04	(0.82)	2.83

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