American Funds Correlations

Mutual Funds . USA . 
Fund . American Funds New
FWWNX Fund  USD 81.57  0.25  0.31%   
The current 90-days correlation between American Funds New and Vanguard Emerging Markets is 0.01 (i.e., Significant 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

Significant diversification

The correlation between American Funds New and DJI is 0.02 (i.e., Significant 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

  1.0RNEBX New World FundPairCorr
  0.98RNGGX New Economy FundPairCorr
  0.87RNGFX New Economy FundPairCorr
  0.98RNGHX New Economy FundPairCorr
  0.87RNGBX New Economy FundPairCorr
  0.87RNGAX New Economy FundPairCorr
  0.87RNGEX New Economy FundPairCorr
  0.87RNGCX New Economy FundPairCorr
  0.87RNNEX New Economy FundPairCorr
  0.83CDJAX American Funds CollegePairCorr
  0.86AMPCX Amcap Fund ClassPairCorr
  0.86AMPFX Amcap Fund ClassPairCorr
  0.88RNPBX New PerspectivePairCorr
  0.88RNPAX New PerspectivePairCorr
  0.88RNPHX New PerspectivePairCorr
  0.88RNPGX New PerspectivePairCorr
  0.98RNPCX New PerspectivePairCorr
  0.88RNPFX New PerspectivePairCorr
  0.88RNPEX New PerspectivePairCorr
  1.0RNWFX New World FundPairCorr
  0.9RNWEX 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VEMAX  0.64 (0.04)(0.07) 0.07  0.86 
(0.63)
 1.34 
(1.41)
 4.08 
VEIEX  0.64 (0.04)(0.07) 0.07  0.87 
(0.63)
 1.36 
(1.42)
 4.11 
VEMIX  0.62 (0.01)(0.08) 0.09  0.79 
(0.63)
 1.33 
(1.39)
 3.54 
VEMRX  0.64 (0.04)(0.07) 0.07  0.88 
(0.61)
 1.33 
(1.42)
 4.10 
FWWNX  0.61  0.02 (0.10) 1.39  0.86 
(0.61)
 1.29 
(1.53)
 4.45 
FNFWX  0.61  0.02 (0.10) 1.32  0.86 
(0.61)
 1.28 
(1.53)
 4.44 
NEWFX  0.63 (0.05)(0.08) 0.05  0.83 
(0.64)
 1.37 
(1.54)
 4.44 
NWFFX  0.63 (0.05)(0.08) 0.05  0.83 
(0.64)
 1.37 
(1.54)
 4.45 
NEWCX  0.63 (0.05)(0.09) 0.05  0.84 
(0.64)
 1.37 
(1.54)
 4.46 
ODVYX  0.75 (0.07)(0.09) 0.02  1.03 
(0.69)
 1.56 
(1.58)
 4.56 

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