American High Correlations

Mutual Funds . USA . 
Fund . American High Income
RITAX Fund  USD 9.95  0.01  0.10%   
The current 90-days correlation between American High Income and Fidelity Sai Convertible is 0.28 (i.e., Modest 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

Almost no diversification

The correlation between American High Income and DJI is 0.9 (i.e., Almost no 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 Your Equity Center 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 nation.

Moving together with American Mutual Fund

  0.87RNEBX New World FundPairCorr
  0.93RNCCX American Funds IncomePairCorr
  0.88FPPPX American Funds PresePairCorr
  0.88AMEFX Income FundPairCorr
  0.88RNGGX New Economy FundPairCorr
  0.88RNGFX New Economy FundPairCorr
  0.88RNGHX New Economy FundPairCorr
  0.87RNGBX New Economy FundPairCorr
  0.87RNGAX New Economy FundPairCorr
  0.88RNGEX New Economy FundPairCorr
  0.88RNGCX New Economy FundPairCorr
  0.85TEAFX Tax Exempt BondPairCorr
  0.93FPTPX American Funds ConsePairCorr
  0.72TEFEX Tax Exempt FundPairCorr
  0.89RNNEX New Economy FundPairCorr
  0.89CDJAX American Funds CollegePairCorr
  0.85RNPBX New PerspectivePairCorr
  0.85RNPAX New PerspectivePairCorr
  0.86RNPHX New PerspectivePairCorr
  0.86RNPGX New PerspectivePairCorr
  0.86RNPCX New PerspectivePairCorr
  0.86RNPFX New PerspectivePairCorr
  0.86RNPEX New PerspectivePairCorr
  0.88AMRFX American MutualPairCorr
  0.92RNRPX American Funds RetirementPairCorr
  0.87RNWFX New World FundPairCorr
  0.87RNWEX New World FundPairCorr
  0.87RNWHX New World FundPairCorr
  0.87RNWGX New World FundPairCorr
  0.87RNWBX New World FundPairCorr
  0.87RNWAX New World FundPairCorr
  0.87RNWCX New World FundPairCorr
  0.8CDWEX American Funds DevelopingPairCorr
  0.81CDWFX American Funds DevelopingPairCorr
  0.8CDWCX American Funds DevelopingPairCorr
  0.81CDWAX American Funds DevelopingPairCorr
  0.69ANBGX American Funds StrategicPairCorr
  0.69ANBFX American Funds StrategicPairCorr
  0.92CEAMX Short Term BondPairCorr
  0.81TFEBX Tax Exempt BondPairCorr

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.

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