American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Income
RINGX Fund  USD 14.50  0.03  0.21%   
The current 90-days correlation between American Funds Income and Qs Global Equity is 0.34 (i.e., 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

Very poor diversification

The correlation between American Funds Income and DJI is 0.89 (i.e., Very poor 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

  0.95RNEBX New World FundPairCorr
  1.0RNCCX American Funds IncomePairCorr
  0.88FPPPX American Funds PresePairCorr
  0.88TEAFX Tax Exempt BondPairCorr
  1.0FPTPX American Funds ConsePairCorr
  0.93RNPGX New PerspectivePairCorr
  0.92RNPCX New PerspectivePairCorr
  0.92AMRFX American MutualPairCorr
  1.0RNRPX American Funds RetirementPairCorr
  0.95RNWGX New World FundPairCorr
  0.95RNWAX New World FundPairCorr
  0.91CDWFX American Funds DevelopingPairCorr
  0.76ANBGX American Funds StrategicPairCorr
  0.87CEAMX Short Term BondPairCorr
  0.93CENEX American Funds LegePairCorr
  0.94CENFX American Funds LegePairCorr
  0.93CENAX American Funds LegePairCorr
  0.93ANWFX New PerspectivePairCorr
  0.94TXEFX American Funds TaxPairCorr
  0.93CEUCX Europacific GrowthPairCorr
  0.92CWIEX Capital World GrowthPairCorr
  0.92CWICX Capital World GrowthPairCorr
  0.92CWIAX Capital World GrowthPairCorr
  0.94CEUFX Europacific GrowthPairCorr
  0.94CEUEX Europacific GrowthPairCorr
  0.94CWMAX Washington MutualPairCorr
  0.63GVTFX Us Government SecuritiesPairCorr
  0.88HIMFX American High IncomePairCorr
  0.85CFAMX Short Term BondPairCorr
  0.89FAFGX American FundsPairCorr
  0.81FAX Aberdeen Asia PacificPairCorr
  0.94CFIHX Capital Income BuilderPairCorr
  0.95CFNCX American Funds FundaPairCorr
  0.83CFNAX American Funds FundaPairCorr
  0.88GWPEX American Funds GrowthPairCorr
  0.93FAXTX American Funds 2065PairCorr
  0.89GFFFX Growth FundPairCorr
  0.93FBAFX American Funds AmericanPairCorr

Related Correlations Analysis


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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