American Funds Correlations

RINFX Fund

USD 14.51 0.03 0.21%

The current 90-days correlation between American Funds Income and Ab Small Cap is 0.56 (i.e., Very weak 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

Almost no diversification

The correlation between American Funds Income and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Income 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 Income. 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

0.97	RNCCX	American Funds Income	Pair Corr
0.86	FPPPX	American Funds Prese	Pair Corr
0.85	TEAFX	Tax Exempt Bond	Pair Corr
0.97	FPTPX	American Funds Conse	Pair Corr
0.74	TEFEX	Tax Exempt Fund	Pair Corr
0.85	CEAMX	Short Term Bond	Pair Corr
0.92	FBDTX	American Funds 2025	Pair Corr
0.87	CGFEX	Growth Fund	Pair Corr
0.87	CGFFX	Growth Fund	Pair Corr
0.81	RAAGX	Short Term Bond	Pair Corr
0.96	RSLAX	Smallcap World	Pair Corr
0.96	SFCWX	Smallcap World	Pair Corr
0.97	CIPCX	American Funds Income	Pair Corr
0.92	RCCTX	American Funds 2020	Pair Corr
0.92	REJTX	American Funds 2015	Pair Corr
0.94	REITX	American Funds 2050	Pair Corr
0.92	RWBEX	Capital World Growth	Pair Corr
0.91	RWIBX	Capital World Growth	Pair Corr
0.91	RWIAX	Capital World Growth	Pair Corr
0.92	RWIHX	Capital World Growth	Pair Corr
0.92	RWIGX	Capital World Growth	Pair Corr
0.92	RWICX	Capital World Growth	Pair Corr
0.69	USGFX	Us Government Securities	Pair Corr
0.94	RIRAX	Capital Income Builder	Pair Corr
0.95	RITAX	American High Income	Pair Corr
0.95	CSPCX	Smallcap World	Pair Corr
0.91	VWIAX	Vanguard Wellesley Income	Pair Corr
0.97	VWINX	Vanguard Wellesley Income	Pair Corr
0.98	BKMIX	Blackrock Multi Asset	Pair Corr
0.91	HBLTX	Hartford Balanced	Pair Corr
0.91	HBLRX	Hartford Balanced	Pair Corr
0.91	HBLSX	Hartford Balanced	Pair Corr
0.91	HBLVX	Hartford Balanced	Pair Corr
0.91	HBLFX	Hartford Balanced	Pair Corr
0.91	HBLYX	Hartford Balanced	Pair Corr

Moving against American Mutual Fund

0.69	IFN	India Closed	Pair Corr
0.62	IIF	Morgan Stanley India	Pair Corr

Related Correlations Analysis

	PMDDX	LMBMX	TVOYX	BOSVX	CHASX	RTOUX	GGRYX	SCYVX
PMDDX		0.95	0.95	0.95	0.92	0.96	0.88	0.98	PMDDX
LMBMX	0.95		0.93	0.99	0.95	0.94	0.93	0.97	LMBMX
TVOYX	0.95	0.93		0.93	0.9	0.98	0.9	0.95	TVOYX
BOSVX	0.95	0.99	0.93		0.94	0.92	0.92	0.98	BOSVX
CHASX	0.92	0.95	0.9	0.94		0.91	0.96	0.93	CHASX
RTOUX	0.96	0.94	0.98	0.92	0.91		0.89	0.96	RTOUX
GGRYX	0.88	0.93	0.9	0.92	0.96	0.89		0.91	GGRYX
SCYVX	0.98	0.97	0.95	0.98	0.93	0.96	0.91		SCYVX
	PMDDX	LMBMX	TVOYX	BOSVX	CHASX	RTOUX	GGRYX	SCYVX

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
PMDDX	0.71	0.13	0.14	0.16	0.57	(0.77)	2.12	(1.32)	4.04
LMBMX	0.89	0.13	0.11	0.16	0.92	(0.98)	2.18	(1.80)	7.43
TVOYX	0.76	0.08	0.09	0.11	0.73	(0.86)	2.13	(1.33)	5.01
BOSVX	0.98	0.27	0.28	0.31	0.55	(1.23)	2.82	(1.44)	9.89
CHASX	1.00	0.16	0.12	0.20	1.06	(1.12)	1.95	(1.70)	12.57
RTOUX	0.75	0.03	0.04	0.07	0.81	(0.79)	1.92	(1.43)	4.39
GGRYX	0.53	0.10	0.15	0.19	0.42	(0.62)	0.91	(0.96)	8.85
SCYVX	0.82	0.14	0.15	0.17	0.75	(1.00)	2.27	(1.61)	4.78

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