American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Income
RNCCX Fund  USD 13.72  0.05  0.37%   
The current 90-days correlation between American Funds Income and Goldman Sachs Esg is -0.06 (i.e., Good 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

Poor diversification

The correlation between American Funds Income 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 American Funds 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 Funds 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 main economic indicators.

Moving together with American Mutual Fund

  0.89AMECX Income FundPairCorr
  0.63RNEBX New World FundPairCorr
  0.76AMFCX American MutualPairCorr
  0.75AMFFX American MutualPairCorr
  0.89AMEFX Income FundPairCorr
  0.64RNGGX New Economy FundPairCorr
  0.71RNGFX New Economy FundPairCorr
  0.64RNGHX New Economy FundPairCorr
  0.72RNGBX New Economy FundPairCorr
  0.72RNGAX New Economy FundPairCorr
  0.72RNGEX New Economy FundPairCorr
  0.72RNGCX New Economy FundPairCorr
  0.91FPTPX American Funds ConsePairCorr
  0.64RNNEX New Economy FundPairCorr
  0.76CDJAX American Funds CollegePairCorr
  0.73AMPCX Amcap Fund ClassPairCorr
  0.73AMPFX Amcap Fund ClassPairCorr
  0.88RNPBX New PerspectivePairCorr
  0.88RNPAX New PerspectivePairCorr
  0.88RNPHX New PerspectivePairCorr
  0.87RNPGX New PerspectivePairCorr
  0.88RNPCX New PerspectivePairCorr
  0.87RNPFX New PerspectivePairCorr
  0.88RNPEX New PerspectivePairCorr
  0.84AMRMX American MutualPairCorr
  0.75AMRFX American MutualPairCorr
  0.89RNRPX American Funds RetirementPairCorr
  0.64RNWFX New World FundPairCorr

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   
FRGOX
+ 0.99
USERX
IIGCX
+ 0.99
FRGOX
IIGCX
+ 0.98
USERX
FRGOX
+ 0.95
AGGWX
AGGWX
+ 0.94
USERX
IIGCX
+ 0.93
AGGWX
  
High negative correlations   
MXKJX
- 0.06
USERX
FRGOX
- 0.05
MXKJX
AGGWX
- 0.0
MXKJX

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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