Amcap Fund Correlations

AMCPX Fund  USD 46.95  0.25  0.54%   
The current 90-days correlation between Amcap Fund Class and Income Fund Of is 0.63 (i.e., Poor diversification). The correlation of Amcap Fund 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.

Amcap Fund Correlation With Market

Poor diversification

The correlation between Amcap Fund Class 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 Amcap Fund Class and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Amcap Fund Class. 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 Amcap Mutual Fund

  0.76AMECX Income FundPairCorr
  0.73AMFCX American MutualPairCorr
  0.75AMFFX American MutualPairCorr
  0.76AMEFX Income FundPairCorr
  0.97RNGGX New Economy FundPairCorr
  0.97RNGFX New Economy FundPairCorr
  0.97RNGHX New Economy FundPairCorr
  0.97RNGBX New Economy FundPairCorr
  0.97RNGAX New Economy FundPairCorr
  0.97RNGEX New Economy FundPairCorr
  0.97RNGCX New Economy FundPairCorr
  0.97RNNEX New Economy FundPairCorr
  0.96CDJAX American Funds CollegePairCorr
  1.0AMPCX Amcap Fund ClassPairCorr
  1.0AMPFX Amcap Fund ClassPairCorr
  0.87RNPBX New PerspectivePairCorr
  0.87RNPAX New PerspectivePairCorr
  0.88RNPHX New PerspectivePairCorr
  0.88RNPGX New PerspectivePairCorr
  0.87RNPCX New PerspectivePairCorr
  0.88RNPFX New PerspectivePairCorr
  0.88RNPEX New PerspectivePairCorr
  0.75AMRMX American MutualPairCorr
  0.76AMRFX American MutualPairCorr

Moving against Amcap Mutual Fund

  0.35FPPPX American Funds PresePairCorr
  0.63ANBCX American Funds StrategicPairCorr
  0.62ANBAX American Funds StrategicPairCorr
  0.61ANBEX American Funds StrategicPairCorr
  0.61ANBGX American Funds StrategicPairCorr
  0.61ANBFX American Funds StrategicPairCorr
  0.57AMUSX Us Government SecuritiesPairCorr
  0.39CEAMX Short Term BondPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
AMEFXAMECX
AMFFXAMFCX
RNGFXRNGGX
RNGHXRNGGX
RNGHXRNGFX
AMFFXAMECX
  
High negative correlations   
RNGHXFPPPX
RNGFXFPPPX
RNGGXFPPPX
FPPPXAMFFX
FPPPXAMFCX
AMEFXFPPPX

Risk-Adjusted Indicators

There is a big difference between Amcap Mutual Fund performing well and Amcap Fund 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 Amcap Fund'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
AMECX  0.30 (0.01)(0.19) 0.06  0.28 
 0.66 
 1.81 
RNEBX  0.50 (0.01)(0.11) 0.06  0.64 
 1.04 
 3.78 
AMFCX  0.42 (0.03)(0.15) 0.04  0.36 
 0.84 
 2.68 
AMFFX  0.42 (0.03)(0.15) 0.05  0.35 
 0.83 
 2.68 
RNCCX  0.23 (0.02)(0.27) 0.03  0.23 
 0.52 
 1.32 
FPPPX  0.11 (0.02) 0.00 (19.51) 0.00 
 0.21 
 0.74 
AMEFX  0.31 (0.01)(0.19) 0.06  0.28 
 0.66 
 1.81 
RNGGX  0.60  0.05  0.04  0.16  0.68 
 1.38 
 4.00 
RNGFX  0.61  0.05  0.04  0.16  0.68 
 1.39 
 4.01 
RNGHX  0.60  0.05  0.04  0.16  0.68 
 1.40 
 4.01