Correlation Analysis Between American Funds and EuroPacific Growth

Analyzing existing cross correlation between American Funds EuroPacific Gr and EuroPacific Growth Fund Class. You can compare the effects of market volatilities on American Funds and EuroPacific Growth and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in American Funds with a short position of EuroPacific Growth. See also your portfolio center. Please also check ongoing floating volatility patterns of American Funds and EuroPacific Growth.
Horizon     30 Days    Login   to change
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Comparative Performance

American Funds EuroP  
1313

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in American Funds EuroPacific Gr are ranked lower than 13 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly weak basic indicators, American Funds may actually be approaching a critical reversion point that can send shares even higher in February 2020.
EuroPacific Growth Fund  
1111

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in EuroPacific Growth Fund Class are ranked lower than 11 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly weak basic indicators, EuroPacific Growth may actually be approaching a critical reversion point that can send shares even higher in February 2020.

American Funds and EuroPacific Growth Volatility Contrast

 Predicted Return Density 
    
  Returns 

American Funds EuroPacific Gr  vs.  EuroPacific Growth Fund Class

 Performance (%) 
    
  Timeline 

Pair Volatility

Assuming 30 trading days horizon, American Funds EuroPacific Gr is expected to generate 0.92 times more return on investment than EuroPacific Growth. However, American Funds EuroPacific Gr is 1.09 times less risky than EuroPacific Growth. It trades about 0.2 of its potential returns per unit of risk. EuroPacific Growth Fund Class is currently generating about 0.17 per unit of risk. If you would invest  5,054  in American Funds EuroPacific Gr on December 18, 2019 and sell it today you would earn a total of  362.00  from holding American Funds EuroPacific Gr or generate 7.16% return on investment over 30 days.

Pair Corralation between American Funds and EuroPacific Growth

0.99
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for American Funds and EuroPacific Growth

American Funds EuroPacific Gr diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding American Funds EuroPacific Gr and EuroPacific Growth Fund Class in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on EuroPacific Growth Fund and American Funds is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on American Funds EuroPacific Gr are associated (or correlated) with EuroPacific Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EuroPacific Growth Fund has no effect on the direction of American Funds i.e. American Funds and EuroPacific Growth go up and down completely randomly.
See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.