American High Correlations

Mutual Funds . USA . 
Fund . American High Income
RTEHX Fund  USD 9.95  0.01  0.10%   
The current 90-days correlation between American High Income and New Economy Fund is 0.06 (i.e., Significant 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 rate.

Moving together with American Mutual Fund

  0.9RNEBX New World FundPairCorr
  0.94RNCCX American Funds IncomePairCorr
  0.91FPPPX American Funds PresePairCorr
  0.9AMEFX Income FundPairCorr
  0.87RNGGX New Economy FundPairCorr
  0.87RNGFX New Economy FundPairCorr
  0.87RNGHX New Economy FundPairCorr
  0.87RNGBX New Economy FundPairCorr
  0.86RNGAX New Economy FundPairCorr
  0.87RNGEX New Economy FundPairCorr
  0.87RNGCX New Economy FundPairCorr
  0.83TEAFX Tax Exempt BondPairCorr
  0.94FPTPX American Funds ConsePairCorr
  0.78TEFEX Tax Exempt FundPairCorr
  0.87RNNEX New Economy FundPairCorr
  0.91CDJAX American Funds CollegePairCorr
  0.87RNPBX New PerspectivePairCorr
  0.87RNPAX New PerspectivePairCorr
  0.87RNPHX New PerspectivePairCorr
  0.87RNPGX New PerspectivePairCorr
  0.87RNPCX New PerspectivePairCorr
  0.87RNPFX New PerspectivePairCorr
  0.87RNPEX New PerspectivePairCorr
  0.89AMRFX American MutualPairCorr
  0.94RNRPX American Funds RetirementPairCorr
  0.9RNWFX New World FundPairCorr
  0.9RNWEX New World FundPairCorr
  0.9RNWHX New World FundPairCorr
  0.9RNWGX New World FundPairCorr
  0.9RNWBX New World FundPairCorr
  0.9RNWAX New World FundPairCorr
  0.9RNWCX New World FundPairCorr
  0.87CDWEX American Funds DevelopingPairCorr
  0.87CDWFX American Funds DevelopingPairCorr
  0.87CDWCX American Funds DevelopingPairCorr
  0.85CDWAX American Funds DevelopingPairCorr
  0.84ANBGX American Funds StrategicPairCorr
  0.79ANBFX American Funds StrategicPairCorr
  0.91CEAMX Short Term BondPairCorr
  0.83TFEBX 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RNEBX  0.67  0.15  0.16  0.32  0.36 
(0.75)
 1.64 
(1.25)
 7.64 
RNCCX  0.29  0.07  0.04  0.31  0.00 
(0.35)
 0.56 
(0.50)
 2.84 
FPPPX  0.07  0.00 (0.74) 0.23  0.00 
(0.12)
 0.21 
(0.11)
 0.32 
AMEFX  0.45  0.20  0.31  0.55  0.00 
(0.57)
 0.79 
(0.70)
 7.41 
RNGGX  0.97  0.20  0.13  0.38  0.93 
(1.00)
 2.22 
(1.82)
 12.50 
RNGFX  0.97  0.20  0.13  0.38  0.95 
(1.00)
 2.22 
(1.81)
 12.41 
RNGHX  0.98  0.20  0.13  0.39  0.93 
(1.01)
 2.22 
(1.81)
 12.70 
RNGBX  1.04  0.26  0.11 (1.11) 1.00 
(1.06)
 2.20 
(2.05)
 15.16 
RNGAX  1.02  0.24  0.15  0.47  0.88 
(1.06)
 2.21 
(1.83)
 15.30 
RNGEX  0.98  0.20  0.13  0.39  0.93 
(1.01)
 2.22 
(1.82)
 12.85 

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