AMERICAN FUNDS Correlations
| GWPFX Fund | USD 20.09 0.05 0.25% |
The correlation of AMERICAN FUNDS is a statistical measure of how it moves in relation to other equities. 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 GROWTH 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.
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 tightly coupled with the direction of predictive economic indicators such as signals in price. 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 GROWTH to buy it.
Moving together with AMERICAN Mutual Fund
| + | 1.0 | RGWAX | AMERICAN FUNDS GROWTH | PairCorr | ||
| + | 1.0 | RGWFX | AMERICAN FUNDS GROWTH | PairCorr | ||
| + | 1.0 | GWPEX | AMERICAN FUNDS GROWTH | PairCorr | ||
| + | 1.0 | RGWGX | AMERICAN FUNDS GROWTH | PairCorr | ||
| + | 1.0 | CGRGX | American Funds Growth | PairCorr | ||
| + | 1.0 | FPGGX | American Funds Growth | PairCorr | ||
| + | 1.0 | FGPGX | American Funds Growth | PairCorr | ||
| + | 0.88 | MUTHX | FRANKLIN MUTUAL SHARES | PairCorr | ||
| + | 0.88 | TEMTX | FRANKLIN MUTUAL SHARES | PairCorr | ||
| + | 0.86 | MMCGX | MID CAP GROWTH | PairCorr | ||
| + | 0.82 | MPEGX | MID CAP GROWTH | PairCorr | ||
| + | 0.82 | MACGX | MID CAP GROWTH | PairCorr | ||
| + | 0.87 | MBIRX | Morgan Stanley Insight | PairCorr | ||
| + | 0.87 | CPODX | MORGAN STANLEY MULTI | PairCorr | ||
| + | 0.81 | MCRTX | MORGAN STANLEY MULTI | PairCorr | ||
| + | 0.81 | MSKLX | MID CAP GROWTH | PairCorr | ||
| + | 0.81 | CPOAX | MORGAN STANLEY MULTI | PairCorr |
Moving against AMERICAN Mutual Fund
| - | 0.48 | MRK | Merck Company | Fiscal Quarter End 30th of September 2023 | PairCorr |
Related Correlations Analysis
VWSUX | SUSAX | GDFIX | AOUNX | HUBAX | MCFRX | NVD | FTSD | ||
VWSUX | 0.9 | 0.74 | 0.88 | 0.63 | 0.89 | -0.37 | 0.78 | VWSUX | |
SUSAX | 0.9 | 0.79 | 0.98 | 0.81 | 0.99 | -0.49 | 0.88 | SUSAX | |
GDFIX | 0.74 | 0.79 | 0.74 | 0.55 | 0.76 | -0.41 | 0.89 | GDFIX | |
AOUNX | 0.88 | 0.98 | 0.74 | 0.81 | 0.99 | -0.5 | 0.88 | AOUNX | |
HUBAX | 0.63 | 0.81 | 0.55 | 0.81 | 0.81 | -0.53 | 0.72 | HUBAX | |
MCFRX | 0.89 | 0.99 | 0.76 | 0.99 | 0.81 | -0.49 | 0.87 | MCFRX | |
NVD | -0.37 | -0.49 | -0.41 | -0.5 | -0.53 | -0.49 | -0.45 | NVD | |
FTSD | 0.78 | 0.88 | 0.89 | 0.88 | 0.72 | 0.87 | -0.45 | FTSD | |
VWSUX | SUSAX | GDFIX | AOUNX | HUBAX | MCFRX | NVD | FTSD |
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations | High negative correlations |
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'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 Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Information Ratio | Expected Shortfall | Potential Upside | Value At@Risk | Maximum Drawdown | |
|---|---|---|---|---|---|---|---|---|---|---|
| VWSUX | 0.03 | (0.01) | 0.05 | (0.82) | 0.00 | 0.06 | (0.11) | 0.06 | (0.06) | 0.39 |
| SUSAX | 0.05 | 0.01 | 0.17 | 1.12 | 0.00 | 0.22 | (0.16) | 0.10 | (0.10) | 0.51 |
| GDFIX | 0.13 | 0.00 | 0.05 | 0.00 | 0.07 | 0.05 | (0.21) | 0.32 | (0.21) | 0.75 |
| AOUNX | 0.07 | 0.01 | 0.20 | 0.62 | 0.00 | 0.21 | (0.18) | 0.21 | (0.11) | 0.63 |
| HUBAX | 0.08 | 0.01 | 0.03 | (0.10) | 0.13 | 0.07 | (0.17) | 0.10 | (0.10) | 2.66 |
| MCFRX | 0.05 | 0.02 | 0.00 | 1.71 | 0.00 | 0.26 | 0.00 | 0.11 | 0.00 | 0.53 |
| NVD | 2.43 | 0.45 | 0.16 | (0.43) | 2.70 | 0.15 | (2.90) | 5.93 | (4.34) | 10.02 |
| FTSD | 0.08 | 0.00 | 0.11 | 0.08 | 0.00 | 0.11 | (0.09) | 0.17 | (0.15) | 0.47 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in AMERICAN FUNDS without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Portfolio File Import Now
Portfolio File ImportQuickly import all of your third-party portfolios from your local drive in csv format |
| All Next | Launch Module |
Already Invested in AMERICAN FUNDS GROWTH?
The danger of trading AMERICAN FUNDS GROWTH is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of AMERICAN FUNDS is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than AMERICAN FUNDS. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile AMERICAN FUNDS GROWTH is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
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 tightly coupled with the direction of predictive economic indicators such as signals in price. Note that the AMERICAN FUNDS GROWTH information on this page should be used as a complementary analysis to other AMERICAN FUNDS's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Complementary Tools for AMERICAN Mutual Fund analysis
When running AMERICAN FUNDS's price analysis, check to measure AMERICAN FUNDS's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy AMERICAN FUNDS is operating at the current time. Most of AMERICAN FUNDS's value examination focuses on studying past and present price action to predict the probability of AMERICAN FUNDS's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move AMERICAN FUNDS's price. Additionally, you may evaluate how the addition of AMERICAN FUNDS to your portfolios can decrease your overall portfolio volatility.
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data |