American Balanced Correlations

CLBAX Fund

USD 38.01 0.10 0.26%

The current 90-days correlation between American Balanced and Investment Of America is 0.45 (i.e., Very weak diversification). The correlation of American Balanced 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 Balanced Correlation With Market

Average diversification

The correlation between American Balanced Fund and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Balanced Fund 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 Balanced Fund. 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 nation.

Moving together with American Mutual Fund

0.8	RNEBX	New World Fund	Pair Corr
0.74	AMEFX	Income Fund	Pair Corr
0.8	RNGGX	New Economy Fund	Pair Corr
0.8	RNGFX	New Economy Fund	Pair Corr
0.78	RNGBX	New Economy Fund	Pair Corr
0.89	RNNEX	New Economy Fund	Pair Corr
0.82	RNPAX	New Perspective	Pair Corr
0.78	RNPGX	New Perspective	Pair Corr
0.77	RNPCX	New Perspective	Pair Corr
0.78	RNPFX	New Perspective	Pair Corr
0.76	AMRFX	American Mutual	Pair Corr
0.81	RNWEX	New World Fund	Pair Corr
0.81	RNWGX	New World Fund	Pair Corr
0.84	RNWBX	New World Fund	Pair Corr
0.67	TXEFX	American Funds Tax	Pair Corr
0.78	CWIFX	Capital World Growth	Pair Corr
0.77	CWICX	Capital World Growth	Pair Corr
0.8	CWIAX	Capital World Growth	Pair Corr
0.75	CEUFX	Europacific Growth	Pair Corr
0.88	CWMAX	Washington Mutual	Pair Corr
0.86	FAHHX	American Funds American	Pair Corr
0.83	CFNEX	American Funds Funda	Pair Corr
0.87	CFNAX	American Funds Funda	Pair Corr
0.89	FAXTX	American Funds 2065	Pair Corr
0.74	GFFFX	Growth Fund	Pair Corr

Moving against American Mutual Fund

0.56	FAADX	American Funds College	Pair Corr
0.52	CENCX	American Funds Lege	Pair Corr
0.51	CENFX	American Funds Lege	Pair Corr
0.46	FBDTX	American Funds 2025	Pair Corr
0.43	FBCTX	American Funds 2020	Pair Corr

Related Correlations Analysis

	CICAX	FFICX	FUNFX	CSPAX	MER-PK	RFKTX	CNWAX	HSWFX	BHYIX	FBLAX
CICAX		0.61	0.61	0.63	-0.2	0.63	0.54	0.45	0.59	0.6	CICAX
FFICX	0.61		0.96	0.77	-0.01	0.96	0.69	0.74	0.78	0.66	FFICX
FUNFX	0.61	0.96		0.86	-0.16	0.99	0.8	0.74	0.85	0.77	FUNFX
CSPAX	0.63	0.77	0.86		-0.43	0.88	0.93	0.68	0.78	0.82	CSPAX
MER-PK	-0.2	-0.01	-0.16	-0.43		-0.18	-0.48	0.03	-0.38	-0.47	MER-PK
RFKTX	0.63	0.96	0.99	0.88	-0.18		0.82	0.79	0.84	0.78	RFKTX
CNWAX	0.54	0.69	0.8	0.93	-0.48	0.82		0.66	0.73	0.73	CNWAX
HSWFX	0.45	0.74	0.74	0.68	0.03	0.79	0.66		0.43	0.39	HSWFX
BHYIX	0.59	0.78	0.85	0.78	-0.38	0.84	0.73	0.43		0.88	BHYIX
FBLAX	0.6	0.66	0.77	0.82	-0.47	0.78	0.73	0.39	0.88		FBLAX
	CICAX	FFICX	FUNFX	CSPAX	MER-PK	RFKTX	CNWAX	HSWFX	BHYIX	FBLAX

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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

RFKTX	+ 0.99	FUNFX
FUNFX	+ 0.96	FFICX
RFKTX	+ 0.96	FFICX
CNWAX	+ 0.93	CSPAX
RFKTX	+ 0.88	CSPAX
FBLAX	+ 0.88	BHYIX

High negative correlations

CNWAX	- 0.48	MER-PK
FBLAX	- 0.47	MER-PK
MER-PK	- 0.43	CSPAX
BHYIX	- 0.38	MER-PK
MER-PK	- 0.2	CICAX
RFKTX	- 0.18	MER-PK

Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American Balanced 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 Balanced'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
CICAX	0.84	0.05	(0.01)	0.73	1.88	(0.74)	1.56	(1.55)	17.34
FFICX	0.59	(0.03)	(0.04)	0.04	0.88	(0.56)	1.24	(1.54)	3.37
FUNFX	0.69	0.00	0.00	0.07	0.92	(0.72)	1.38	(1.67)	4.04
CSPAX	0.81	0.11	0.06	0.55	0.74	(0.95)	1.50	(1.20)	6.03
MER-PK	0.23	(0.03)	0.00	(0.11)	0.00	0.00	0.47	(0.39)	2.46
RFKTX	0.56	(0.01)	(0.03)	0.07	0.71	(0.59)	1.16	(1.22)	3.13
CNWAX	0.68	0.15	0.11	0.90	0.58	(0.78)	1.46	(1.16)	6.43
HSWFX	0.62	(0.04)	(0.06)	0.02	0.88	(0.61)	1.15	(1.50)	3.78
BHYIX	0.13	0.00	(0.33)	0.07	0.00	(0.21)	0.28	(0.28)	0.84
FBLAX	0.26	0.03	(0.13)	0.39	0.20	(0.31)	0.70	(0.47)	1.33

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