American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds 2030
CCETX Fund  USD 18.16  0.06  0.33%   
The current 90-days correlation between American Funds 2030 and Dana Large Cap is -0.1 (i.e., Good diversification). The correlation of American Funds 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.

American Funds Correlation With Market

Good diversification

The correlation between American Funds 2030 and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds 2030 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 American Funds 2030. 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 estimate.

Moving together with American Mutual Fund

  0.79AMECX Income FundPairCorr
  0.98RNEBX New World FundPairCorr
  0.79AMFCX American MutualPairCorr
  0.79AMFFX American MutualPairCorr
  0.82RNCCX American Funds IncomePairCorr
  0.84FPPPX American Funds PresePairCorr
  0.8AMEFX Income FundPairCorr
  0.99RNGGX New Economy FundPairCorr
  0.99RNGFX New Economy FundPairCorr
  0.78RNGHX New Economy FundPairCorr
  0.99RNGBX New Economy FundPairCorr
  0.99RNGAX New Economy FundPairCorr
  0.99RNGEX New Economy FundPairCorr
  0.99RNGCX New Economy FundPairCorr
  0.83FPTPX American Funds ConsePairCorr
  0.99RNNEX New Economy FundPairCorr
  1.0CDJAX American Funds CollegePairCorr
  0.99AMPCX Amcap Fund ClassPairCorr
  0.99AMPFX Amcap Fund ClassPairCorr
  0.99RNPBX New PerspectivePairCorr
  0.99RNPAX New PerspectivePairCorr
  0.75RNPHX New PerspectivePairCorr
  0.99RNPGX New PerspectivePairCorr
  0.99RNPCX New PerspectivePairCorr
  0.99RNPFX New PerspectivePairCorr
  0.99RNPEX New PerspectivePairCorr
  0.99AMRMX American MutualPairCorr
  0.99AMRFX American MutualPairCorr
  1.0RNRPX American Funds RetirementPairCorr
  0.72AMUSX Us Government SecuritiesPairCorr
  0.83TEPCX American Funds TaxPairCorr
  0.97TEPAX American Funds TaxPairCorr
  0.84TEPFX American Funds TaxPairCorr
  0.75RNWFX New World FundPairCorr

Moving against American Mutual Fund

  0.35TECCX Tax Exempt FundPairCorr

Related Correlations Analysis

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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' 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.

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