American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds 2060
CCKTX Fund  USD 19.08  0.21  1.09%   
The current 90-days correlation between American Funds 2060 and American Funds 2040 is -0.12 (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

Very poor diversification

The correlation between American Funds 2060 and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Funds 2060 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 2060. 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
  0.81RNEBX New World FundPairCorr
  0.99AMFCX American MutualPairCorr
  0.99AMFFX American MutualPairCorr
  0.74RNCCX American Funds IncomePairCorr
  0.79AMEFX Income FundPairCorr
  0.76RNGGX New Economy FundPairCorr
  0.76RNGFX New Economy FundPairCorr
  0.76RNGHX New Economy FundPairCorr
  0.76RNGBX New Economy FundPairCorr
  1.0RNGAX New Economy FundPairCorr
  0.76RNGEX New Economy FundPairCorr
  0.76RNGCX New Economy FundPairCorr
  0.99FPTPX American Funds ConsePairCorr
  0.76RNNEX New Economy FundPairCorr
  1.0CDJAX American Funds CollegePairCorr
  0.73AMPCX Amcap Fund ClassPairCorr
  0.73AMPFX Amcap Fund ClassPairCorr
  0.78RNPBX New PerspectivePairCorr
  0.78RNPAX New PerspectivePairCorr
  1.0RNPHX New PerspectivePairCorr
  0.77RNPGX New PerspectivePairCorr
  0.78RNPCX New PerspectivePairCorr
  0.77RNPFX New PerspectivePairCorr
  1.0RNPEX New PerspectivePairCorr
  0.75AMRMX American MutualPairCorr
  0.99AMRFX American MutualPairCorr
  0.74RNRPX American Funds RetirementPairCorr
  0.95TEPCX American Funds TaxPairCorr
  0.96TEPFX American Funds TaxPairCorr
  0.99RNWFX New World FundPairCorr

Moving against American Mutual Fund

  0.36TECCX 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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