American Funds Correlations
CCKTX Fund | USD 16.88 0.23 1.38% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as American Funds moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if American Funds 2060 moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very poor diversification
The correlation between American Funds 2060 and NYA is 0.86 (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 2060 and NYA in the same portfolio, assuming nothing else is changed.
American |
The ability to find closely correlated positions to American Funds could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace American Funds when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back American Funds - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling American Funds 2060 to buy it.
Moving together with American Mutual Fund
0.93 | AMECX | Income Fund | PairCorr |
0.85 | RNEBX | New World Fund | PairCorr |
0.91 | AMFCX | American Mutual | PairCorr |
0.91 | AMFFX | American Mutual | PairCorr |
0.96 | RNCCX | American Funds Income | PairCorr |
0.83 | FPPPX | American Funds Prese | PairCorr |
0.93 | AMEFX | Income Fund | PairCorr |
0.98 | RNGGX | New Economy Fund | PairCorr |
0.98 | RNGFX | New Economy Fund | PairCorr |
0.98 | RNGBX | New Economy Fund | PairCorr |
0.85 | RNGEX | New Economy Fund | PairCorr |
0.98 | RNGCX | New Economy Fund | PairCorr |
0.74 | AMHIX | American High Income | PairCorr |
0.95 | FPTPX | American Funds Conse | PairCorr |
0.9 | CDJAX | American Funds College | PairCorr |
Related Correlations Analysis
1.0 | 0.93 | 0.98 | 0.93 | 0.98 | AANTX | ||
1.0 | 0.93 | 0.98 | 0.93 | 0.98 | FAWTX | ||
0.93 | 0.93 | 0.92 | 1.0 | 0.93 | FDKLX | ||
0.98 | 0.98 | 0.92 | 0.92 | 1.0 | FDKVX | ||
0.93 | 0.93 | 1.0 | 0.92 | 0.93 | FUIPX | ||
0.98 | 0.98 | 0.93 | 1.0 | 0.93 | LIZIX | ||
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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 | ||
---|---|---|---|---|---|---|---|---|---|---|
AANTX | 0.54 | 0.02 | 0.02 | 0.04 | 0.59 | 1.19 | 2.84 | |||
FAWTX | 0.53 | 0.02 | 0.02 | 0.04 | 0.59 | 1.19 | 2.78 | |||
FDKLX | 0.48 | 0.03 | 0.02 | 0.42 | 0.53 | 1.07 | 2.45 | |||
FDKVX | 0.54 | 0.04 | 0.05 | 0.06 | 0.56 | 1.19 | 2.65 | |||
FUIPX | 0.48 | 0.03 | 0.02 | 0.39 | 0.53 | 1.07 | 2.51 | |||
LIZIX | 0.54 | 0.03 | 0.05 | 0.05 | 0.57 | 1.11 | 2.69 |
Other Information on Investing in American Mutual Fund
American Funds financial ratios help investors to determine whether American Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in American with respect to the benefits of owning American Funds security.
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