American Funds Correlations

FWWNX Fund

USD 81.10 1.54 1.94%

The current 90-days correlation between American Funds New and Scout E Bond is -0.06 (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

Average diversification

The correlation between American Funds New and DJI is 0.11 (i.e., Average 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 board of governors.

Moving together with American Mutual Fund

0.96	VEMAX	Vanguard Emerging Markets	Pair Corr
0.96	VEIEX	Vanguard Emerging Markets	Pair Corr
0.96	VEMIX	Vanguard Emerging Markets	Pair Corr
0.96	VEMRX	Vanguard Emerging Markets	Pair Corr
1.0	FNFWX	American Funds New	Pair Corr
1.0	NEWFX	New World Fund	Pair Corr
1.0	NWFFX	New World Fund	Pair Corr
1.0	NEWCX	New World Fund	Pair Corr
0.97	ODVYX	Oppenheimer Developing	Pair Corr
0.78	VSTSX	Vanguard Total Stock	Pair Corr
0.78	VSMPX	Vanguard Total Stock	Pair Corr
0.78	VITSX	Vanguard Total Stock	Pair Corr
0.79	VFFSX	Vanguard 500 Index	Pair Corr
0.79	VFIAX	Vanguard 500 Index	Pair Corr
0.89	VTISX	Vanguard Total Inter	Pair Corr
0.89	VTSNX	Vanguard Total Inter	Pair Corr
0.89	VTPSX	Vanguard Total Inter	Pair Corr
0.79	VINIX	Vanguard Institutional	Pair Corr
0.78	VTSAX	Vanguard Total Stock	Pair Corr
0.95	RIRAX	Capital Income Builder	Pair Corr
0.77	CEE	Central Europe Russia	Pair Corr
0.66	XEDDX	Morgan Stanley Emerging	Pair Corr

Related Correlations Analysis

	SCCIX	0P000070L2	MIIIX	ABNTX	ANAGX	FMUSX	FMFXX
SCCIX		0.0	0.96	0.82	0.54	0.74	0.0	SCCIX
0P000070L2	0.0		0.0	0.0	0.0	0.0	0.0	0P000070L2
MIIIX	0.96	0.0		0.89	0.6	0.81	0.0	MIIIX
ABNTX	0.82	0.0	0.89		0.6	0.82	0.0	ABNTX
ANAGX	0.54	0.0	0.6	0.6		0.58	0.0	ANAGX
FMUSX	0.74	0.0	0.81	0.82	0.58		0.0	FMUSX
FMFXX	0.0	0.0	0.0	0.0	0.0	0.0		FMFXX
	SCCIX	0P000070L2	MIIIX	ABNTX	ANAGX	FMUSX	FMFXX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MIIIX	+ 0.96	SCCIX
ABNTX	+ 0.89	MIIIX
ABNTX	+ 0.82	SCCIX
FMUSX	+ 0.82	ABNTX
FMUSX	+ 0.81	MIIIX
FMUSX	+ 0.74	SCCIX

High negative correlations

FMFXX	- 0.0	FMUSX
FMFXX	- 0.0	ANAGX
FMFXX	- 0.0	ABNTX
FMFXX	- 0.0	MIIIX
FMFXX	- 0.0	0P000070L2
FMUSX	- 0.0	0P000070L2

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SCCIX	0.31	0.01	0.30	0.11	0.37	(0.32)	0.56	(0.56)	1.85
0P000070L2	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MIIIX	0.30	0.02	0.31	0.18	0.35	(0.33)	0.55	(0.53)	1.91
ABNTX	0.22	0.02	0.34	0.39	0.26	(0.25)	0.48	(0.39)	1.93
ANAGX	0.20	0.01	0.34	(0.43)	0.23	(0.24)	0.44	(0.44)	1.30
FMUSX	0.04	0.00	0.71	(0.29)	0.00	(0.14)	0.10	(0.10)	0.50
FMFXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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