American High Correlations

Mutual Funds . USA . 
Fund . American High Income
RITAX Fund  USD 9.92  0.03  0.30%   
The current 90-days correlation between American High Income and Mutual Of America is 0.41 (i.e., Very weak diversification). The correlation of American High 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 High Correlation With Market

Very weak diversification

The correlation between American High Income and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American High 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 High 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 nation.

Moving together with American Mutual Fund

  0.7RNEBX New World FundPairCorr
  0.76RNCCX American Funds IncomePairCorr
  0.7FPPPX American Funds PresePairCorr
  0.71AMEFX Income FundPairCorr
  0.73RNGGX New Economy FundPairCorr
  0.66RNGFX New Economy FundPairCorr
  0.73RNGHX New Economy FundPairCorr
  0.72RNGBX New Economy FundPairCorr
  0.72RNGAX New Economy FundPairCorr
  0.73RNGEX New Economy FundPairCorr
  0.86RNGCX New Economy FundPairCorr
  0.92FPTPX American Funds ConsePairCorr
  0.73RNNEX New Economy FundPairCorr
  0.86CDJAX American Funds CollegePairCorr
  0.82RNPBX New PerspectivePairCorr
  0.82RNPAX New PerspectivePairCorr
  0.83RNPHX New PerspectivePairCorr
  0.73RNPGX New PerspectivePairCorr
  0.72RNPCX New PerspectivePairCorr
  0.73RNPFX New PerspectivePairCorr
  0.82RNPEX New PerspectivePairCorr
  0.74AMRFX American MutualPairCorr
  0.9RNRPX American Funds RetirementPairCorr
  0.83RNWFX New World FundPairCorr
  0.83RNWEX New World FundPairCorr
  0.83RNWHX New World FundPairCorr
  0.7RNWGX New World FundPairCorr
  0.83RNWBX New World FundPairCorr
  0.83RNWAX New World FundPairCorr
  0.83RNWCX New World FundPairCorr
  0.73CDWEX American Funds DevelopingPairCorr
  0.73CDWFX American Funds DevelopingPairCorr
  0.72CDWCX American Funds DevelopingPairCorr
  0.73CDWAX American Funds DevelopingPairCorr
  0.71ANBGX American Funds StrategicPairCorr
  0.72ANBFX American Funds StrategicPairCorr
  0.91CEAMX Short Term BondPairCorr
  0.64TFEBX Tax Exempt BondPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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