American High Correlations

RITBX Fund

USD 9.92 0.01 0.10%

The current 90-days correlation between American High Income and Flexible Bond Portfolio is 0.17 (i.e., Average 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

Poor diversification

The correlation between American High Income and DJI is 0.77 (i.e., Poor 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 bureau of labor statistics.

Moving together with American Mutual Fund

1.0	AHTFX	American High Income	Pair Corr
0.93	AHTCX	American High Income	Pair Corr
0.93	AHITX	American High Income	Pair Corr
0.91	BHYCX	Blackrock Hi Yld	Pair Corr
0.79	BHYIX	Blackrock High Yield	Pair Corr
0.98	BHYSX	Blackrock Hi Yld	Pair Corr
0.92	BHYAX	Blackrock High Yield	Pair Corr
0.81	VWEHX	Vanguard High Yield	Pair Corr
0.98	VWEAX	Vanguard High Yield	Pair Corr
0.98	PHYZX	Prudential High Yield	Pair Corr
0.85	LIIAX	Columbia Porate Income	Pair Corr
0.85	SRINX	Columbia Porate Income	Pair Corr
0.84	WRHIX	Ivy High Income	Pair Corr
0.79	WHIAX	Ivy High Income	Pair Corr
0.8	IHIFX	Ivy High Income	Pair Corr
0.8	IVHIX	Ivy High Income	Pair Corr
0.83	QRSAX	Fpa Queens Road	Pair Corr
0.71	INTC	Intel Aggressive Push	Pair Corr
0.82	BA	Boeing Sell-off Trend	Pair Corr
0.63	MRK	Merck Company Earnings Call This Week	Pair Corr
0.79	AA	Alcoa Corp	Pair Corr
0.71	WMT	Walmart Common Stock Aggressive Push	Pair Corr

Moving against American Mutual Fund

0.54	T	ATT Inc Earnings Call This Week	Pair Corr
0.37	MSFT	Microsoft	Pair Corr
0.35	VZ	Verizon Communications Upward Rally	Pair Corr

Related Correlations Analysis

	DLTNX	PRFHX	GHVIX	ABNTX	ANBIX	AAEZX	JAFLX
DLTNX		0.69	0.73	0.81	0.82	0.8	0.96	DLTNX
PRFHX	0.69		0.73	0.63	0.64	0.66	0.68	PRFHX
GHVIX	0.73	0.73		0.6	0.6	0.95	0.75	GHVIX
ABNTX	0.81	0.63	0.6		0.99	0.65	0.8	ABNTX
ANBIX	0.82	0.64	0.6	0.99		0.65	0.81	ANBIX
AAEZX	0.8	0.66	0.95	0.65	0.65		0.81	AAEZX
JAFLX	0.96	0.68	0.75	0.8	0.81	0.81		JAFLX
	DLTNX	PRFHX	GHVIX	ABNTX	ANBIX	AAEZX	JAFLX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DLTNX	0.12	(0.01)	(0.27)	(0.08)	0.12	(0.16)	0.23	(0.23)	0.67
PRFHX	0.09	0.00	(0.30)	0.09	0.00	(0.15)	0.27	(0.18)	0.81
GHVIX	0.10	0.02	(0.20)	0.39	0.00	(0.14)	0.24	(0.23)	0.70
ABNTX	0.07	(0.01)	(0.41)	(0.18)	0.03	(0.11)	0.10	(0.10)	0.39
ANBIX	0.08	(0.01)	(0.46)	(0.18)	0.03	(0.11)	0.19	(0.10)	0.38
AAEZX	0.15	0.01	(0.16)	0.08	0.06	(0.21)	0.29	(0.39)	1.08
JAFLX	0.12	(0.01)	(0.27)	(0.09)	0.15	(0.14)	0.20	(0.30)	0.61

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