American Century Correlations

AACPX Fund  USD 10.75  0.04  0.37%   
The correlation of American Century 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 Century Correlation With Market

Modest diversification

The correlation between American Century One and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Century One 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 Century One. 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 american community survey.

Moving together with American Mutual Fund

  0.82AMEIX Equity GrowthPairCorr
  0.82TWADX Value Fund APairCorr
  0.84TWCCX Ultra Fund CPairCorr
  0.75AMVYX Mid Cap ValuePairCorr
  0.75AMVRX Mid Cap ValuePairCorr
  0.92TWBIX Balanced Fund InvestorPairCorr
  0.75AMVGX Mid Cap ValuePairCorr
  0.66TWEAX Equity IncomePairCorr
  0.75TWGGX Global GrowthPairCorr
  0.92TWSCX Strategic AllocationPairCorr
  0.91TWSAX Strategic AllocationPairCorr
  0.92TWSMX Strategic AllocationPairCorr
  0.75TWVLX Value Fund InvestorPairCorr
  0.83NPHIX High Income FundPairCorr
  0.82ANORX Small Cap GrowthPairCorr
  0.82ANONX Small Cap GrowthPairCorr
  0.82ANOGX Small Cap GrowthPairCorr

Moving against American Mutual Fund

  0.33TWACX Short Term GovernmentPairCorr
  0.44ANTUX Nt Non IntrinsicPairCorr
  0.44ANVMX American Century NonPairCorr
  0.44ANVLX American Century NonPairCorr
  0.44ANVHX American Century NonPairCorr
  0.41ANVRX American Century NonPairCorr
  0.4ANTGX Nt Non IntrinsicPairCorr

Related Correlations Analysis

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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   
KNFVIASP
LBHIXFFTHX
XTWO444859BR2
MSTSXFFTHX
VIASPLBHIX
KNFLBHIX
  
High negative correlations   
BRRAY444859BR2
KNFXTWO
MSTSXBRRAY
KNF444859BR2
VIASP444859BR2
XTWOVIASP

Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American Century 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 Century'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
FFTHX  0.39  0.03 (0.15) 0.87  0.40 
 0.98 
 2.41 
444859BR2  0.52 (0.17) 0.00 (0.99) 0.00 
 0.77 
 3.56 
BRRAY  2.28  0.56  0.00  0.81  0.00 
 0.00 
 34.02 
MSTSX  0.45  0.00 (0.10) 0.11  0.39 
 1.21 
 2.80 
LBHIX  0.10  0.01 (0.41) 0.25  0.00 
 0.24 
 0.71 
VIASP  0.75  0.13  0.01 (2.11) 1.10 
 2.28 
 7.18 
144285AL7  0.35 (0.02) 0.00 (0.14) 0.00 
 0.96 
 2.45 
XTWO  0.08 (0.01) 0.00  1.33  0.00 
 0.12 
 0.53 
KNF  1.47  0.20  0.13  0.22  1.81 
 2.77 
 12.78 
70082LAB3  0.78  0.13  0.00 (0.85) 1.03 
 1.78 
 6.86