Amcap Fund Correlations

Mutual Funds . USA . 
Fund . Amcap Fund Class
RAFGX Fund  USD 46.15  0.05  0.11%   
The current 90-days correlation between Amcap Fund Class and Income Fund Of is -0.05 (i.e., Good diversification). The correlation of Amcap Fund 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.

Amcap Fund Correlation With Market

Very poor diversification

The correlation between Amcap Fund Class 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 Amcap Fund Class and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Amcap Fund Class. 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 price.

Moving together with Amcap Mutual Fund

  0.97AMECX Income FundPairCorr
  0.98AMFCX American MutualPairCorr
  0.98AMFFX American MutualPairCorr
  0.99RNCCX American Funds IncomePairCorr
  0.7FPPPX American Funds PresePairCorr
  0.8AMHIX American High IncomePairCorr
  0.62TEBCX Tax Exempt BondPairCorr
  0.71TEAFX Tax Exempt BondPairCorr
  0.98FPTPX American Funds ConsePairCorr
  0.99RNPHX New PerspectivePairCorr
  0.99RNPGX New PerspectivePairCorr
  0.98AMRMX American MutualPairCorr
  0.99AMRFX American MutualPairCorr
  0.97TEPFX American Funds TaxPairCorr
  0.99RNWGX New World FundPairCorr
  0.98ANCFX American Funds FundaPairCorr
  0.71TFEBX Tax Exempt BondPairCorr
  0.92CENAX American Funds LegePairCorr
  0.98ANWPX New PerspectivePairCorr
  0.99BALFX American BalancedPairCorr
  0.98BALCX American BalancedPairCorr
  0.99CWGIX Capital World GrowthPairCorr
  1.0CWGFX Capital World GrowthPairCorr
  0.98WSHFX Washington MutualPairCorr
  0.99FAETX American Funds 2030PairCorr
  1.0FAFGX American FundsPairCorr
  0.95FAX Aberdeen Asia PacificPairCorr
  0.98CFIHX Capital Income BuilderPairCorr
  1.0FAQTX American Funds 2035PairCorr
  1.0GWPFX American Funds GrowthPairCorr
  1.0GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  1.0GFFFX Growth FundPairCorr
  0.99SCWFX Smallcap WorldPairCorr
  0.99FBAFX American Funds AmericanPairCorr
  0.99FSWFX American Funds SmallcapPairCorr
  0.99CGFEX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  0.99CGFCX Growth FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Amcap Mutual Fund performing well and Amcap Fund 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 Amcap Fund's 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
AMECX  0.33  0.14  0.00 (1.76) 0.01 
(0.36)
 0.94 
(0.56)
 2.22 
RNEBX  0.47  0.26  0.21 (7.69) 0.00 
(0.55)
 1.87 
(0.87)
 3.41 
AMFCX  0.51  0.18  0.06 (2.44) 0.45 
(0.61)
 1.52 
(0.83)
 3.61 
AMFFX  0.51  0.18  0.06 (2.52) 0.45 
(0.62)
 1.52 
(0.84)
 3.62 
RNCCX  0.27  0.06 (0.05) 0.31  0.00 
(0.33)
 0.85 
(0.50)
 1.83 
FPPPX  0.13  0.01 (0.58)(0.41) 0.07 
(0.14)
 0.21 
(0.32)
 0.64 
AMEFX  0.33  0.15  0.03 (1.86) 0.00 
(0.39)
 0.94 
(0.53)
 2.24 
RNGGX  0.68  0.32  0.18 (3.79) 0.45 
(0.78)
 2.23 
(1.36)
 5.17 
RNGFX  0.68  0.18  0.17  0.33  0.48 
(0.77)
 2.24 
(1.36)
 5.16 
RNGHX  0.68  0.32  0.18 (3.87) 0.45 
(0.76)
 2.25 
(1.35)
 5.17 

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