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Correlation Between American Funds and EuroPacific Growth

Analyzing existing cross correlation between American Funds EuroPacific Gr and EuroPacific Growth Fund Cl R 6. 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. Check out your portfolio center. Please also check ongoing floating volatility patterns of American Funds and EuroPacific Growth.

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Diversification Opportunities for American Funds and EuroPacific Growth

American Funds EuroPacific Gr diversification synergy
0.98
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EU

Almost no diversification

The 3 months correlation between American and EuroPacific is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding American Funds EuroPacific Gr and EuroPacific Growth Fund Cl R 6 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.

Pair Corralation between American Funds and EuroPacific Growth

Assuming 30 trading days horizon, American Funds EuroPacific Gr is expected to generate 0.95 times more return on investment than EuroPacific Growth. However, American Funds EuroPacific Gr is 1.05 times less risky than EuroPacific Growth. It trades about -0.04 of its potential returns per unit of risk. EuroPacific Growth Fund Cl R 6 is currently generating about -0.04 per unit of risk. If you would invest  5,194  in American Funds EuroPacific Gr on January 28, 2020 and sell it today you would lose (198.00)  from holding American Funds EuroPacific Gr or give up 3.81% of portfolio value over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

American Funds EuroPacific Gr  vs.  EuroPacific Growth Fund Cl R 6

 Performance (%) 
    
  Timeline 
American Funds EuroP 
00

Risk-Adjusted Fund Performance

Over the last 30 days American Funds EuroPacific Gr has generated negative risk-adjusted returns adding no value to fund investors. Inspite fairly strong basic indicators, American Funds is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
EuroPacific Growth Fund 
00

Risk-Adjusted Fund Performance

Over the last 30 days EuroPacific Growth Fund Cl R 6 has generated negative risk-adjusted returns adding no value to fund investors. Inspite fairly strong basic indicators, EuroPacific Growth is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

American Funds and EuroPacific Growth Volatility Contrast

 Predicted Return Density 
    
  Returns 
Check out your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.