American Funds Correlations

Mutual Funds USA . 
Fund . American Funds New
FWWNX Fund  USD 90.62  0.32  0.35%   
The current 90-days correlation between American Funds New and Income Fund Of is 0.67 (i.e., Poor 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 New and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds New 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 New. 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 state.

Moving together with American Mutual Fund

  0.97AMECX Income FundPairCorr
  0.96AMFCX American MutualPairCorr
  0.96AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.85FPPPX American Funds PresePairCorr
  0.98RNGFX New Economy FundPairCorr
  0.98RNGHX New Economy FundPairCorr
  0.98RNGCX New Economy FundPairCorr
  0.97FPTPX American Funds ConsePairCorr
  0.98CDJAX American Funds CollegePairCorr
  0.96AMPCX Amcap Fund ClassPairCorr
  0.96AMPFX Amcap Fund ClassPairCorr
  0.99RNPAX New PerspectivePairCorr
  0.98RNPCX New PerspectivePairCorr
  0.89TEPFX American Funds TaxPairCorr
  1.0RNWEX New World FundPairCorr
  1.0RNWAX New World FundPairCorr
  1.0RNWCX New World FundPairCorr
  0.8ANBEX American Funds StrategicPairCorr
  0.94ANCFX American Funds FundaPairCorr
  0.98NPFFX New PerspectivePairCorr
  0.99PGGFX American Funds GlobalPairCorr
  0.98ANWPX New PerspectivePairCorr
  0.99CWGIX Capital World GrowthPairCorr
  0.99CWGFX Capital World GrowthPairCorr
  0.99CWGCX Capital World GrowthPairCorr
  0.71WSHFX Washington MutualPairCorr
  0.99CWICX Capital World GrowthPairCorr
  0.99CWIAX Capital World GrowthPairCorr
  0.93HIGFX American High IncomePairCorr
  0.71CWMAX Washington MutualPairCorr
  0.78CFAFX Bond FundPairCorr
  0.77CFAEX Bond FundPairCorr
  0.77CFACX Bond FundPairCorr
  0.79CFAAX Bond FundPairCorr
  0.77WBFFX Capital World BondPairCorr
  0.93FAHHX American Funds AmericanPairCorr
  0.98FAIFX American FundsPairCorr
  0.94CFNAX American Funds FundaPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMECX  0.26  0.02 (0.09) 0.16  0.14 
(0.28)
 0.75 
(0.59)
 1.55 
RNEBX  0.46  0.03 (0.02) 0.15  0.33 
(0.54)
 1.31 
(0.87)
 3.22 
AMFCX  0.37  0.03 (0.03) 0.15  0.24 
(0.43)
 0.81 
(0.78)
 1.95 
AMFFX  0.37  0.03 (0.03) 0.16  0.23 
(0.45)
 0.82 
(0.77)
 1.96 
RNCCX  0.21  0.03 (0.14) 0.20  0.00 
(0.25)
 0.58 
(0.43)
 1.09 
FPPPX  0.12  0.02 (0.54) 2.22  0.00 
(0.17)
 0.21 
(0.21)
 0.84 
AMEFX  0.27  0.02 (0.08) 0.16  0.17 
(0.29)
 0.75 
(0.55)
 1.55 
RNGGX  0.53  0.08  0.07  0.21  0.45 
(0.58)
 1.43 
(1.01)
 4.18 
RNGFX  0.53  0.08  0.07  0.21  0.45 
(0.56)
 1.43 
(1.00)
 4.21 
RNGHX  0.53  0.07  0.07  0.20  0.45 
(0.56)
 1.43 
(1.01)
 4.20 

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