American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds 2040
FAUTX Fund  USD 21.42  0.11  0.52%   
The current 90-days correlation between American Funds 2040 and American Funds 2035 is 0.99 (i.e., No risk reduction). 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 2040 and DJI is 0.82 (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 2040 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in American Funds 2040. 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 estimate.

Moving together with American Mutual Fund

  0.97AMECX Income FundPairCorr
  0.96AMFCX American MutualPairCorr
  0.96AMFFX American MutualPairCorr
  0.88RNCCX American Funds IncomePairCorr
  0.97AMEFX Income FundPairCorr
  0.95RNGGX New Economy FundPairCorr
  0.95RNGFX New Economy FundPairCorr
  0.95RNGHX New Economy FundPairCorr
  0.96RNGBX New Economy FundPairCorr
  0.96RNGAX New Economy FundPairCorr
  0.95RNGEX New Economy FundPairCorr
  0.95RNGCX New Economy FundPairCorr
  0.9FPTPX American Funds ConsePairCorr
  0.95RNNEX New Economy FundPairCorr
  1.0CDJAX American Funds CollegePairCorr
  0.95AMPCX Amcap Fund ClassPairCorr
  0.95AMPFX Amcap Fund ClassPairCorr
  0.98RNPBX New PerspectivePairCorr
  0.98RNPAX New PerspectivePairCorr
  0.98RNPHX New PerspectivePairCorr
  0.98RNPGX New PerspectivePairCorr
  0.98RNPCX New PerspectivePairCorr
  0.98RNPFX New PerspectivePairCorr
  0.98RNPEX New PerspectivePairCorr
  0.96AMRMX American MutualPairCorr
  0.96AMRFX American MutualPairCorr
  0.81RNRPX American Funds RetirementPairCorr

Moving against American Mutual Fund

  0.31FPPPX American Funds PresePairCorr
  0.5AMUSX Us Government SecuritiesPairCorr
  0.47ANBEX American Funds StrategicPairCorr
  0.47ANBAX American Funds StrategicPairCorr
  0.47ANBCX American Funds StrategicPairCorr
  0.46ANBGX American Funds StrategicPairCorr
  0.46ANBFX American Funds StrategicPairCorr

Related Correlations Analysis

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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.

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