Correlation Analysis Between Growth Fund and American Funds

This module allows you to analyze existing cross correlation between The Growth Fund Of America Clas and American Funds New Economy Fund. You can compare the effects of market volatilities on Growth Fund and American Funds 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 Growth Fund with a short position of American Funds. See also your portfolio center. Please also check ongoing floating volatility patterns of Growth Fund and American Funds.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Growth Fund  
55

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in The Growth Fund Of America Clas are ranked lower than 5 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, Growth Fund is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
American Funds New  
00

Risk-Adjusted Fund Performance

Over the last 30 days American Funds New Economy Fund 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.

Growth Fund and American Funds Volatility Contrast

The Growth Fund Of America Cla  vs.  American Funds New Economy Fun

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  4,642  in The Growth Fund Of America Clas on November 5, 2019 and sell it today you would earn a total of  238.00  from holding The Growth Fund Of America Clas or generate 5.13% return on investment over 30 days.

Pair Corralation between Growth Fund and American Funds

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for Growth Fund and American Funds

The Growth Fund Of America Cla diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding The Growth Fund Of America Cla and American Funds New Economy Fun in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on American Funds New and Growth Fund 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 The Growth Fund Of America Clas are associated (or correlated) with American Funds. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Funds New has no effect on the direction of Growth Fund i.e. Growth Fund and American Funds go up and down completely randomly.
See also your portfolio center. Please also try Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.


 
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