American High Correlations

Mutual Funds . USA . 
Fund . American High Income
RITAX Fund  USD 9.97  0.01  0.10%   
The current 90-days correlation between American High Income and Nuveen Minnesota Municipal is 0.47 (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

Almost no diversification

The correlation between American High 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 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

  0.91RNEBX New World FundPairCorr
  0.95RNCCX American Funds IncomePairCorr
  0.91FPPPX American Funds PresePairCorr
  0.91AMEFX Income FundPairCorr
  0.85RNGGX New Economy FundPairCorr
  0.85RNGFX New Economy FundPairCorr
  0.85RNGHX New Economy FundPairCorr
  0.84RNGBX New Economy FundPairCorr
  0.84RNGAX New Economy FundPairCorr
  0.85RNGEX New Economy FundPairCorr
  0.85RNGCX New Economy FundPairCorr
  0.86TEAFX Tax Exempt BondPairCorr
  0.95FPTPX American Funds ConsePairCorr
  0.82TEFEX Tax Exempt FundPairCorr
  0.84RNNEX New Economy FundPairCorr
  0.9CDJAX American Funds CollegePairCorr
  0.86RNPBX New PerspectivePairCorr
  0.86RNPAX New PerspectivePairCorr
  0.86RNPHX New PerspectivePairCorr
  0.86RNPGX New PerspectivePairCorr
  0.86RNPCX New PerspectivePairCorr
  0.86RNPFX New PerspectivePairCorr
  0.86RNPEX New PerspectivePairCorr
  0.9AMRFX American MutualPairCorr
  0.94RNRPX American Funds RetirementPairCorr
  0.91RNWFX New World FundPairCorr
  0.91RNWEX New World FundPairCorr
  0.91RNWHX New World FundPairCorr
  0.91RNWGX New World FundPairCorr
  0.91RNWBX New World FundPairCorr
  0.91RNWAX New World FundPairCorr
  0.91RNWCX New World FundPairCorr
  0.88CDWEX American Funds DevelopingPairCorr
  0.88CDWFX American Funds DevelopingPairCorr
  0.88CDWCX American Funds DevelopingPairCorr
  0.88CDWAX American Funds DevelopingPairCorr
  0.82ANBGX American Funds StrategicPairCorr
  0.82ANBFX American Funds StrategicPairCorr
  0.92CEAMX Short Term BondPairCorr
  0.86TFEBX 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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