American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds New
FNFWX Fund  USD 83.25  0.21  0.25%   
The current 90-days correlation between American Funds New and Virtus Multi Sector Short is -0.03 (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 New 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 American Funds New and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in American Funds New. 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 housing.

Moving together with American Mutual Fund

  0.85AMECX Income FundPairCorr
  1.0RNEBX New World FundPairCorr
  0.86AMFCX American MutualPairCorr
  0.85AMFFX American MutualPairCorr
  0.85RNCCX American Funds IncomePairCorr
  0.85AMEFX Income FundPairCorr
  0.82RNGGX New Economy FundPairCorr
  0.76RNGFX New Economy FundPairCorr
  0.82RNGHX New Economy FundPairCorr
  0.76RNGBX New Economy FundPairCorr
  0.82RNGAX New Economy FundPairCorr
  0.76RNGEX New Economy FundPairCorr
  0.76RNGCX New Economy FundPairCorr
  0.85FPTPX American Funds ConsePairCorr
  0.76RNNEX New Economy FundPairCorr
  0.91CDJAX American Funds CollegePairCorr
  0.79AMPCX Amcap Fund ClassPairCorr
  0.79AMPFX Amcap Fund ClassPairCorr
  0.88RNPBX New PerspectivePairCorr
  0.88RNPAX New PerspectivePairCorr
  0.93RNPHX New PerspectivePairCorr
  0.88RNPGX New PerspectivePairCorr
  0.88RNPCX New PerspectivePairCorr
  0.88RNPFX New PerspectivePairCorr
  0.88RNPEX New PerspectivePairCorr
  0.84AMRMX American MutualPairCorr
  0.84AMRFX American MutualPairCorr
  0.84RNRPX American Funds RetirementPairCorr
  0.62TEPAX American Funds TaxPairCorr
  0.61TEPFX American Funds TaxPairCorr
  0.95RNWFX New World 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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