Amcap Fund Correlations

Mutual Funds . USA . 
Fund . Amcap Fund Class
CAFCX Fund  USD 35.35  0.05  0.14%   
The current 90-days correlation between Amcap Fund Class and Income Fund Of is 0.72 (i.e., Poor diversification). The correlation of Amcap Fund 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.

Amcap Fund Correlation With Market

Good diversification

The correlation between Amcap Fund Class and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amcap Fund Class and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Amcap Fund Class. 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 main economic indicators.

Moving together with Amcap Mutual Fund

  0.98AMECX Income FundPairCorr
  0.99AMFCX American MutualPairCorr
  0.99AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.7FPPPX American Funds PresePairCorr
  0.81AMHIX American High IncomePairCorr
  0.62TEBCX Tax Exempt BondPairCorr
  0.71TEAFX Tax Exempt BondPairCorr
  0.99FPTPX American Funds ConsePairCorr
  0.98RNPHX New PerspectivePairCorr
  0.98RNPGX New PerspectivePairCorr
  1.0AMRMX American MutualPairCorr
  0.98AMRFX American MutualPairCorr
  0.97TEPFX American Funds TaxPairCorr
  0.98RNWGX New World FundPairCorr
  0.99ANCFX American Funds FundaPairCorr
  0.71TFEBX Tax Exempt BondPairCorr
  0.91CENAX American Funds LegePairCorr
  0.99ANWPX New PerspectivePairCorr
  0.98BALFX American BalancedPairCorr
  0.99BALCX American BalancedPairCorr
  1.0CWGIX Capital World GrowthPairCorr
  0.99CWGFX Capital World GrowthPairCorr
  1.0WSHFX Washington MutualPairCorr
  0.98FAETX American Funds 2030PairCorr
  0.99FAFGX American FundsPairCorr
  0.93FAX Aberdeen Asia PacificPairCorr
  0.98CFIHX Capital Income BuilderPairCorr
  0.98FAQTX American Funds 2035PairCorr
  0.99GWPFX American Funds GrowthPairCorr
  0.99GFACX Growth FundPairCorr
  1.0GFAFX Growth FundPairCorr
  0.99GFFFX Growth FundPairCorr
  0.98SCWFX Smallcap WorldPairCorr
  0.98FBAFX American Funds AmericanPairCorr
  0.98FSWFX American Funds SmallcapPairCorr
  1.0CGFEX Growth FundPairCorr
  0.99CGFFX Growth FundPairCorr
  1.0CGFCX Growth FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Amcap Mutual Fund performing well and Amcap Fund 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 Amcap Fund'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMECX  0.33  0.14  0.00 (1.76) 0.01 
(0.36)
 0.94 
(0.56)
 2.22 
RNEBX  0.47  0.26  0.21 (7.69) 0.00 
(0.55)
 1.87 
(0.87)
 3.41 
AMFCX  0.51  0.18  0.06 (2.44) 0.45 
(0.61)
 1.52 
(0.83)
 3.61 
AMFFX  0.51  0.18  0.06 (2.52) 0.45 
(0.62)
 1.52 
(0.84)
 3.62 
RNCCX  0.27  0.06 (0.05) 0.31  0.00 
(0.33)
 0.85 
(0.50)
 1.83 
FPPPX  0.13  0.01 (0.58)(0.41) 0.07 
(0.14)
 0.21 
(0.32)
 0.64 
AMEFX  0.33  0.15  0.03 (1.86) 0.00 
(0.39)
 0.94 
(0.53)
 2.24 
RNGGX  0.68  0.32  0.18 (3.79) 0.45 
(0.78)
 2.23 
(1.36)
 5.17 
RNGFX  0.68  0.18  0.17  0.33  0.48 
(0.77)
 2.24 
(1.36)
 5.16 
RNGHX  0.68  0.32  0.18 (3.87) 0.45 
(0.76)
 2.25 
(1.35)
 5.17 

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