American High-income Correlations

Mutual Funds . USA . 
Fund . American High Income Municipal
HIMFX Fund  USD 14.98  0.11  0.74%   
The current 90-days correlation between American High Income and Income Fund Of is 0.1 (i.e., Average diversification). The correlation of American High-income 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-income Correlation With Market

Good diversification

The correlation between American High Income Municipal and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American High Income Municipal and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in American High Income Municipal. 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

  0.65FPPPX American Funds PresePairCorr
  1.0AMHIX American High IncomePairCorr
  0.98TEBCX Tax Exempt BondPairCorr
  0.98TECCX Tax Exempt FundPairCorr
  0.96TEAFX Tax Exempt BondPairCorr
  0.98TECFX Tax Exempt FundPairCorr
  0.98TEFEX Tax Exempt FundPairCorr
  0.74AMUSX Us Government SecuritiesPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American High-income 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-income'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 

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY