American Funds Correlations

CGGGX Fund

USD 23.85 0.05 0.21%

The current 90-days correlation between American Funds Global and Materials Portfolio Fidelity is 0.1 (i.e., Average 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

Significant diversification

The correlation between American Funds Global and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Global 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 American Funds Global. 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 price.

Moving together with American Mutual Fund

0.85	FNFPX	American Funds New	Pair Corr
0.85	FFPNX	American Funds New	Pair Corr
0.85	NPFCX	New Perspective	Pair Corr
0.85	ANWPX	New Perspective	Pair Corr
0.85	NPFFX	New Perspective	Pair Corr
0.85	CNPAX	New Perspective	Pair Corr
0.85	CNPEX	New Perspective	Pair Corr
0.85	CNPFX	New Perspective	Pair Corr
0.85	CNPCX	New Perspective	Pair Corr
0.85	RNPAX	New Perspective	Pair Corr
0.67	AMGIX	Income Growth	Pair Corr
0.7	LIGYX	Loomis Sayles Intern	Pair Corr
0.71	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.64	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.72	HD	Home Depot Sell-off Trend	Pair Corr
0.81	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.66	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.65	HPQ	HP Inc	Pair Corr

Moving against American Mutual Fund

0.5	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.44	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.37	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.36	KO	Coca Cola Sell-off Trend	Pair Corr

Related Correlations Analysis

	FIJFX	WRLDX	OPTCX	VOLMX	TWBIX
FIJFX		0.8	0.68	0.68	0.81	FIJFX
WRLDX	0.8		0.8	0.78	0.87	WRLDX
OPTCX	0.68	0.8		0.97	0.78	OPTCX
VOLMX	0.68	0.78	0.97		0.77	VOLMX
TWBIX	0.81	0.87	0.78	0.77		TWBIX
	FIJFX	WRLDX	OPTCX	VOLMX	TWBIX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FIJFX	0.76	(0.06)	(0.07)	0.05	0.88	(0.82)	1.63	(1.48)	4.27
WRLDX	0.49	(0.02)	(0.12)	0.08	0.45	(0.56)	0.92	(0.97)	2.75
OPTCX	0.15	0.02	(0.40)	0.20	0.00	(0.22)	0.32	(0.21)	1.04
VOLMX	0.61	0.00	0.00	0.12	0.59	(0.71)	1.14	(1.35)	4.49
TWBIX	0.36	(0.03)	(0.17)	0.06	0.44	(0.38)	0.77	(0.92)	2.38

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