American Funds Correlations

FGPGX Fund

USD 27.46 0.18 0.66%

The current 90-days correlation between American Funds Growth and Fidelity Advisor Technology is 0.04 (i.e., Significant 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 Growth and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds Growth 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 Growth. 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

1.0	CGRGX	American Funds Growth	Pair Corr
1.0	FPGGX	American Funds Growth	Pair Corr
0.87	MUTHX	Franklin Mutual Shares	Pair Corr
0.87	TESRX	Franklin Mutual Shares	Pair Corr
0.87	FMSHX	Franklin Mutual Shares	Pair Corr
1.0	GWPCX	American Funds Growth	Pair Corr
0.85	GWPFX	American Funds Growth	Pair Corr
1.0	GWPAX	American Funds Growth	Pair Corr
1.0	CGQGX	American Funds Growth	Pair Corr
0.69	FTCAX	Templeton Strained Bond	Pair Corr
0.69	PYAIX	Payden Absolute Return	Pair Corr
0.68	PYARX	Payden Absolute Return	Pair Corr
0.66	BCAAX	Brandywineglobal C	Pair Corr
0.73	BDJ	Blackrock Enhanced Equity	Pair Corr
0.82	CII	Blackrock Enhanced	Pair Corr
0.78	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.65	WMT	Walmart Aggressive Push	Pair Corr
0.8	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.77	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.61	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.65	BAC	Bank of America Aggressive Push	Pair Corr
0.8	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.61	DIS	Walt Disney Sell-off Trend	Pair Corr

Moving against American Mutual Fund

0.83	USPSX	Profunds Ultrashort	Pair Corr
0.83	USPIX	Profunds Ultrashort	Pair Corr
0.83	UIPIX	Ultrashort Mid Cap	Pair Corr
0.66	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.58	KO	Coca Cola Aggressive Push	Pair Corr
0.47	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.45	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	FIKHX	TOWTX	JAGTX	DTEYX	TEPIX	CMTFX	HTECX
FIKHX		0.78	0.97	0.98	0.95	0.98	0.91	FIKHX
TOWTX	0.78		0.83	0.8	0.89	0.83	0.78	TOWTX
JAGTX	0.97	0.83		0.99	0.98	1.0	0.92	JAGTX
DTEYX	0.98	0.8	0.99		0.95	0.99	0.92	DTEYX
TEPIX	0.95	0.89	0.98	0.95		0.98	0.89	TEPIX
CMTFX	0.98	0.83	1.0	0.99	0.98		0.91	CMTFX
HTECX	0.91	0.78	0.92	0.92	0.89	0.91		HTECX
	FIKHX	TOWTX	JAGTX	DTEYX	TEPIX	CMTFX	HTECX

Click cells to compare fundamentals

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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
FIKHX	1.00	0.00	0.01	0.13	1.55	(0.92)	1.82	(2.57)	6.73
TOWTX	0.60	(0.10)	(0.11)	0.00	1.10	(0.56)	1.12	(1.68)	6.26
JAGTX	0.88	(0.03)	(0.02)	0.10	1.33	(0.85)	1.88	(2.58)	5.87
DTEYX	0.89	0.03	0.02	0.16	1.23	(0.91)	1.88	(2.49)	5.99
TEPIX	1.43	(0.10)	(0.01)	0.07	2.16	(1.43)	2.84	(3.72)	9.83
CMTFX	0.95	(0.02)	(0.01)	0.11	1.37	(0.94)	1.96	(2.56)	6.08
HTECX	0.86	(0.08)	(0.03)	0.07	1.21	(0.81)	1.73	(2.15)	6.25

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