American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Income
RNCCX Fund  USD 14.62  0.02  0.14%   
The current 90-days correlation between American Funds Income and Principal Lifetime Hybrid is 0.82 (i.e., Very poor 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 services.

Moving together with American Mutual Fund

  0.93RNEBX New World FundPairCorr
  0.92FPPPX American Funds PresePairCorr
  0.91AMEFX Income FundPairCorr
  0.8RNGGX New Economy FundPairCorr
  0.8RNGFX New Economy FundPairCorr
  0.82RNGHX New Economy FundPairCorr
  0.79RNGBX New Economy FundPairCorr
  0.79RNGAX New Economy FundPairCorr
  0.8RNGEX New Economy FundPairCorr
  0.8RNGCX New Economy FundPairCorr
  0.9TEAFX Tax Exempt BondPairCorr
  0.97FPTPX American Funds ConsePairCorr
  0.87TEFEX Tax Exempt FundPairCorr
  0.8RNNEX New Economy FundPairCorr
  0.91CDJAX American Funds CollegePairCorr
  0.82RNPBX New PerspectivePairCorr
  0.82RNPAX New PerspectivePairCorr
  0.83RNPHX New PerspectivePairCorr
  0.83RNPGX New PerspectivePairCorr
  0.82RNPCX New PerspectivePairCorr
  0.83RNPFX New PerspectivePairCorr
  0.83RNPEX New PerspectivePairCorr
  0.95AMRFX American MutualPairCorr
  0.95RNRPX American Funds RetirementPairCorr
  0.95RNWFX New World FundPairCorr
  0.95RNWEX New World FundPairCorr
  0.93RNWHX New World FundPairCorr
  0.95RNWGX New World FundPairCorr
  0.95RNWBX New World FundPairCorr
  0.95RNWAX New World FundPairCorr
  0.95RNWCX New World FundPairCorr
  0.94CDWEX American Funds DevelopingPairCorr
  0.94CDWFX American Funds DevelopingPairCorr
  0.94CDWCX American Funds DevelopingPairCorr
  0.94CDWAX American Funds DevelopingPairCorr
  0.85ANBGX American Funds StrategicPairCorr
  0.85ANBFX American Funds StrategicPairCorr
  0.89CEAMX Short Term BondPairCorr
  0.9TFEBX Tax Exempt BondPairCorr

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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