American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds Growth
GWPAX Fund  USD 25.25  0.02  0.08%   
The current 90-days correlation between American Funds Growth and American Funds Growth is 1.0 (i.e., No risk reduction). 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 Growth and NYA is 0.8 (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 Growth and NYA 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 Funds Growth. 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

  0.85AMECX Income FundPairCorr
  0.87RNEBX New World FundPairCorr
  0.9AMFCX American MutualPairCorr
  0.9AMFFX American MutualPairCorr
  0.94RNCCX American Funds IncomePairCorr
  0.86FPPPX American Funds PresePairCorr
  0.87AMEFX Income FundPairCorr
  0.98RNGGX New Economy FundPairCorr
  0.98RNGFX New Economy FundPairCorr
  0.98RNGHX New Economy FundPairCorr
  0.98RNGBX New Economy FundPairCorr
  0.91RNGAX New Economy FundPairCorr
  0.98RNGEX New Economy FundPairCorr
  0.98RNGCX New Economy FundPairCorr
  0.83AMHIX American High IncomePairCorr
  0.66TEBCX Tax Exempt BondPairCorr
  0.69TECCX Tax Exempt FundPairCorr
  0.71TEAFX Tax Exempt BondPairCorr
  0.93FPTPX American Funds ConsePairCorr
  0.72TECFX Tax Exempt FundPairCorr
  0.72TEFEX Tax Exempt FundPairCorr
  0.98RNNEX New Economy FundPairCorr
  0.99CDJAX American Funds CollegePairCorr
  0.98AMPCX Amcap Fund ClassPairCorr
  0.99AMPFX Amcap Fund ClassPairCorr
  0.97RNPBX New PerspectivePairCorr
  0.93RNPAX New PerspectivePairCorr
  0.97RNPHX New PerspectivePairCorr
  0.93RNPGX New PerspectivePairCorr
  0.93RNPCX New PerspectivePairCorr
  0.97RNPFX New PerspectivePairCorr
  0.93RNPEX New PerspectivePairCorr
  0.93AMRMX American MutualPairCorr
  0.9AMRFX American MutualPairCorr
  0.95RNRPX American Funds RetirementPairCorr
  0.82AMUSX Us Government SecuritiesPairCorr
  0.63TEPAX American Funds TaxPairCorr
  0.87RNWFX New World FundPairCorr
  0.87RNWEX New World FundPairCorr
  0.87RNWHX New World FundPairCorr

Related Correlations Analysis

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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.

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