American High Correlations

Mutual Funds . USA . 
Fund . American High Income
AHTFX Fund  USD 9.96  0.02  0.20%   
The current 90-days correlation between American High Income and Income Fund Of is 0.36 (i.e., 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

Weak diversification

The correlation between American High Income and DJI is 0.38 (i.e., 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

  0.94AMECX Income FundPairCorr
  0.91RNEBX New World FundPairCorr
  0.92AMFCX American MutualPairCorr
  0.93AMFFX American MutualPairCorr
  0.97RNCCX American Funds IncomePairCorr
  0.92FPPPX American Funds PresePairCorr
  0.94AMEFX Income FundPairCorr
  0.95RNGGX New Economy FundPairCorr
  0.95RNGFX New Economy FundPairCorr
  0.95RNGHX New Economy FundPairCorr
  0.95RNGBX New Economy FundPairCorr
  0.95RNGAX New Economy FundPairCorr
  0.95RNGEX New Economy FundPairCorr
  0.95RNGCX New Economy FundPairCorr
  0.68TEBCX Tax Exempt BondPairCorr
  0.75TEAFX Tax Exempt BondPairCorr
  0.97FPTPX American Funds ConsePairCorr
  0.62TECFX Tax Exempt FundPairCorr
  0.63TEFEX Tax Exempt FundPairCorr
  0.95RNNEX New Economy FundPairCorr
  0.95CDJAX American Funds CollegePairCorr
  0.93AMPCX Amcap Fund ClassPairCorr
  0.93AMPFX Amcap Fund ClassPairCorr
  0.92RNPBX New PerspectivePairCorr
  0.92RNPAX New PerspectivePairCorr
  0.93RNPHX New PerspectivePairCorr
  0.93RNPGX New PerspectivePairCorr
  0.92RNPCX New PerspectivePairCorr
  0.93RNPFX New PerspectivePairCorr
  0.92RNPEX New PerspectivePairCorr
  0.93AMRMX American MutualPairCorr
  0.93AMRFX American MutualPairCorr
  0.97RNRPX American Funds RetirementPairCorr
  0.9AMUSX Us Government SecuritiesPairCorr
  0.96TEPCX American Funds TaxPairCorr
  0.96TEPAX American Funds TaxPairCorr
  0.96TEPFX American Funds TaxPairCorr
  0.91RNWFX New World FundPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMECX  0.27  0.02 (0.07) 0.14  0.21 
(0.29)
 0.75 
(0.59)
 1.55 
RNEBX  0.46  0.04  0.02  0.16  0.34 
(0.54)
 1.31 
(0.87)
 3.22 
AMFCX  0.37  0.02 (0.04) 0.12  0.28 
(0.43)
 0.81 
(0.78)
 1.95 
AMFFX  0.37  0.02 (0.04) 0.12  0.27 
(0.44)
 0.82 
(0.77)
 1.96 
RNCCX  0.22  0.03 (0.09) 0.18  0.00 
(0.26)
 0.58 
(0.43)
 1.14 
FPPPX  0.12  0.03 (0.38) 2.36  0.00 
(0.18)
 0.21 
(0.21)
 0.74 
AMEFX  0.28  0.02 (0.07) 0.13  0.23 
(0.30)
 0.75 
(0.55)
 1.55 
RNGGX  0.55  0.09  0.09  0.21  0.46 
(0.59)
 1.43 
(1.01)
 4.18 
RNGFX  0.55  0.09  0.09  0.21  0.46 
(0.58)
 1.43 
(1.00)
 4.21 
RNGHX  0.55  0.09  0.09  0.21  0.47 
(0.58)
 1.43 
(1.01)
 4.20 

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