American High Correlations

AHTFX Fund

USD 9.94 0.02 0.20%

The current 90-days correlation between American High Income and T Rowe Price is 0.43 (i.e., Very weak diversification). The correlation of American High 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 High Correlation With Market

Very weak diversification

The correlation between American High Income and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American High Income 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 High 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 price.

Moving together with American Mutual Fund

0.69	AMECX	Income Fund	Pair Corr
0.69	AMFCX	American Mutual	Pair Corr
0.69	AMFFX	American Mutual	Pair Corr
0.85	CUSEX	Capital Group Equity	Pair Corr
0.65	TECFX	Tax Exempt Fund	Pair Corr
0.66	AMPCX	Amcap Fund Class	Pair Corr
0.89	AMPFX	Amcap Fund Class	Pair Corr
0.64	TEPCX	American Funds Tax	Pair Corr
0.66	TEPAX	American Funds Tax	Pair Corr
0.7	TEPFX	American Funds Tax	Pair Corr
0.62	EMGEX	Emerging Markets Growth	Pair Corr
0.63	ANBAX	American Funds Strategic	Pair Corr
0.65	ANCFX	American Funds Funda	Pair Corr
0.65	ANFCX	New Economy Fund	Pair Corr
0.64	ANEFX	New Economy Fund	Pair Corr
0.86	ANFFX	New Economy Fund	Pair Corr
0.62	EMRGX	Emerging Markets Growth	Pair Corr
0.66	NPFCX	New Perspective	Pair Corr
0.84	NPFFX	New Perspective	Pair Corr
0.86	PGGAX	American Funds Global	Pair Corr
0.77	PGGFX	American Funds Global	Pair Corr
0.77	ANWPX	New Perspective	Pair Corr
0.93	BALFX	American Balanced	Pair Corr
0.83	BALCX	American Balanced	Pair Corr
0.79	CWGIX	Capital World Growth	Pair Corr
0.87	CWGFX	Capital World Growth	Pair Corr
0.8	CWGCX	Capital World Growth	Pair Corr
0.91	WSHFX	Washington Mutual	Pair Corr
0.83	WSHCX	Washington Mutual	Pair Corr
0.87	FAATX	American Funds 2010	Pair Corr
0.72	FAETX	American Funds 2030	Pair Corr
0.94	FAFWX	American Funds Retirement	Pair Corr

Moving against American Mutual Fund

0.42

AMRMX

American Mutual

Pair Corr

Related Correlations Analysis

	PRFDX	TIBIX	TIBMX	TIBCX	TIBGX	TIBAX	TIBRX	MIAWX	GAIFX	IGIFX
PRFDX		0.9	0.9	0.94	0.94	0.9	0.94	0.74	0.91	0.94	PRFDX
TIBIX	0.9		0.99	0.92	0.92	0.99	0.92	0.73	0.82	0.87	TIBIX
TIBMX	0.9	0.99		0.93	0.93	1.0	0.93	0.74	0.83	0.87	TIBMX
TIBCX	0.94	0.92	0.93		1.0	0.93	1.0	0.75	0.86	0.91	TIBCX
TIBGX	0.94	0.92	0.93	1.0		0.93	1.0	0.76	0.86	0.92	TIBGX
TIBAX	0.9	0.99	1.0	0.93	0.93		0.93	0.73	0.82	0.87	TIBAX
TIBRX	0.94	0.92	0.93	1.0	1.0	0.93		0.76	0.86	0.92	TIBRX
MIAWX	0.74	0.73	0.74	0.75	0.76	0.73	0.76		0.78	0.7	MIAWX
GAIFX	0.91	0.82	0.83	0.86	0.86	0.82	0.86	0.78		0.88	GAIFX
IGIFX	0.94	0.87	0.87	0.91	0.92	0.87	0.92	0.7	0.88		IGIFX
	PRFDX	TIBIX	TIBMX	TIBCX	TIBGX	TIBAX	TIBRX	MIAWX	GAIFX	IGIFX

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Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American High 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 High'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PRFDX	0.59	0.04	0.04	0.14	0.47	(0.69)	1.50	(1.00)	3.19
TIBIX	0.39	0.17	0.21	1.13	0.00	(0.48)	0.92	(0.70)	2.81
TIBMX	0.39	0.15	0.20	0.58	0.00	(0.48)	0.92	(0.70)	2.78
TIBCX	0.39	0.15	0.19	0.56	0.00	(0.46)	0.96	(0.68)	2.80
TIBGX	0.39	0.15	0.19	0.57	0.00	(0.48)	0.96	(0.68)	2.80
TIBAX	0.39	0.15	0.19	0.55	0.00	(0.48)	0.96	(0.71)	2.77
TIBRX	0.39	0.15	0.19	0.57	0.00	(0.49)	0.96	(0.68)	2.83
MIAWX	0.13	0.00	(0.48)	(0.01)	0.11	(0.17)	0.21	(0.32)	0.75
GAIFX	0.48	(0.01)	(0.06)	0.08	0.54	(0.51)	0.93	(1.07)	2.71
IGIFX	0.59	0.21	0.23	1.30	0.00	(0.78)	1.25	(0.86)	6.91

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