American Funds Correlations

RDLTX Fund

USD 19.44 0.03 0.15%

The current 90-days correlation between American Funds 2065 and Ab Small Cap is 0.82 (i.e., Very 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

Very poor diversification

The correlation between American Funds 2065 and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds 2065 and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in American Funds 2065. 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 estimate.

Moving together with American Mutual Fund

0.63	AMECX	Income Fund	Pair Corr
0.61	AMFCX	American Mutual	Pair Corr
0.61	AMFFX	American Mutual	Pair Corr
0.67	RNCCX	American Funds Income	Pair Corr
0.76	FPPPX	American Funds Prese	Pair Corr
0.63	AMEFX	Income Fund	Pair Corr
0.61	RNGHX	New Economy Fund	Pair Corr
0.61	RNGCX	New Economy Fund	Pair Corr
0.66	FPTPX	American Funds Conse	Pair Corr
0.62	AMPCX	Amcap Fund Class	Pair Corr
0.62	AMPFX	Amcap Fund Class	Pair Corr
0.61	AMUSX	Us Government Securities	Pair Corr
0.65	TEPAX	American Funds Tax	Pair Corr
0.65	TEPFX	American Funds Tax	Pair Corr
0.62	DITFX	American Funds 2050	Pair Corr
0.73	CENAX	American Funds Lege	Pair Corr
0.65	BALFX	American Balanced	Pair Corr
0.65	BALCX	American Balanced	Pair Corr
0.61	CWGIX	Capital World Growth	Pair Corr
0.61	CWGFX	Capital World Growth	Pair Corr
0.64	CWMEX	Washington Mutual	Pair Corr
0.69	FAATX	American Funds 2010	Pair Corr
0.71	WBFFX	Capital World Bond	Pair Corr
0.71	FAFWX	American Funds Retirement	Pair Corr
0.68	FAX	Aberdeen Asia Pacific	Pair Corr
0.68	FAHHX	American Funds American	Pair Corr

Moving against American Mutual Fund

0.34	TECCX	Tax Exempt Fund	Pair Corr
0.32	TECFX	Tax Exempt Fund	Pair Corr

Related Correlations Analysis

	QUAIX	OWSMX	NSMAX	NESGX	PSBMX	HRSCX
QUAIX		0.98	0.93	0.98	0.97	0.96	QUAIX
OWSMX	0.98		0.94	0.97	0.95	0.97	OWSMX
NSMAX	0.93	0.94		0.95	0.95	0.97	NSMAX
NESGX	0.98	0.97	0.95		0.98	0.96	NESGX
PSBMX	0.97	0.95	0.95	0.98		0.94	PSBMX
HRSCX	0.96	0.97	0.97	0.96	0.94		HRSCX
	QUAIX	OWSMX	NSMAX	NESGX	PSBMX	HRSCX

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QUAIX	0.85	0.04	0.08	0.19	0.67	(0.99)	1.99	(1.41)	6.51
OWSMX	0.41	0.07	0.02	0.27	0.34	(0.46)	1.18	(0.84)	3.06
NSMAX	0.70	0.20	0.03	(0.89)	0.60	(0.81)	1.60	(1.33)	5.57
NESGX	1.17	0.16	0.18	0.26	0.88	(1.44)	3.06	(1.84)	9.09
PSBMX	0.72	0.04	0.06	0.19	0.67	(0.84)	1.41	(1.36)	6.01
HRSCX	0.78	0.26	0.07	(0.80)	0.67	(0.95)	1.85	(1.55)	6.38

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