American High Correlations

Mutual Funds . USA . 
Fund . American High Income
RITEX Fund  USD 9.95  0.01  0.10%   
The current 90-days correlation between American High Income and T Rowe Price is 0.43 (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 0.9 (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 american community survey.

Moving together with American Mutual Fund

  0.85RNEBX New World FundPairCorr
  0.92RNCCX American Funds IncomePairCorr
  0.89FPPPX American Funds PresePairCorr
  0.88AMEFX Income FundPairCorr
  0.87RNGGX New Economy FundPairCorr
  0.87RNGFX New Economy FundPairCorr
  0.87RNGHX New Economy FundPairCorr
  0.86RNGBX New Economy FundPairCorr
  0.86RNGAX New Economy FundPairCorr
  0.87RNGEX New Economy FundPairCorr
  0.87RNGCX New Economy FundPairCorr
  0.83TEAFX Tax Exempt BondPairCorr
  0.92FPTPX American Funds ConsePairCorr
  0.71TEFEX Tax Exempt FundPairCorr
  0.87RNNEX New Economy FundPairCorr
  0.86CDJAX American Funds CollegePairCorr
  0.83RNPBX New PerspectivePairCorr
  0.83RNPAX New PerspectivePairCorr
  0.84RNPHX New PerspectivePairCorr
  0.84RNPGX New PerspectivePairCorr
  0.84RNPCX New PerspectivePairCorr
  0.84RNPFX New PerspectivePairCorr
  0.84RNPEX New PerspectivePairCorr
  0.87AMRFX American MutualPairCorr
  0.91RNRPX American Funds RetirementPairCorr
  0.85RNWFX New World FundPairCorr
  0.85RNWEX New World FundPairCorr
  0.85RNWHX New World FundPairCorr
  0.85RNWGX New World FundPairCorr
  0.85RNWBX New World FundPairCorr
  0.85RNWAX New World FundPairCorr
  0.85RNWCX New World FundPairCorr
  0.77CDWEX American Funds DevelopingPairCorr
  0.78CDWFX American Funds DevelopingPairCorr
  0.72CDWCX American Funds DevelopingPairCorr
  0.73CDWAX American Funds DevelopingPairCorr
  0.65ANBGX American Funds StrategicPairCorr
  0.66ANBFX American Funds StrategicPairCorr
  0.91CEAMX Short Term BondPairCorr
  0.79TFEBX 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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