American Century Correlations

Mutual Funds . USA . 
Fund . American Century One
AAELX Fund  USD 11.74  0.07  0.60%   
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

Significant diversification

The correlation between American Century One and DJI is 0.05 (i.e., Significant 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 bureau of economic analysis.

Moving together with American Mutual Fund

  0.82AMDVX Mid Cap ValuePairCorr
  0.94AMEIX Equity GrowthPairCorr
  0.96AMGIX Income GrowthPairCorr
  0.92TWADX Value Fund APairCorr
  0.95TWCCX Ultra Fund CPairCorr
  0.94TWCAX Select Fund APairCorr
  0.96TWCIX Select Fund InvestorPairCorr
  0.96TWCGX Growth Fund InvestorPairCorr
  0.82AMVYX Mid Cap ValuePairCorr
  0.81AMVRX Mid Cap ValuePairCorr
  0.92TWBIX Balanced Fund InvestorPairCorr
  0.82AMVGX Mid Cap ValuePairCorr
  0.74TWEAX Equity IncomePairCorr
  0.75TWEIX Equity IncomePairCorr
  0.95TWCUX Ultra Fund InvestorPairCorr
  0.93TWGIX Growth Fund IPairCorr
  0.65TWGGX Global GrowthPairCorr
  0.95TWHIX Heritage Fund InvestorPairCorr
  0.93TWRCX Growth Fund CPairCorr
  0.91TWSCX Strategic AllocationPairCorr
  0.99TWSAX Strategic AllocationPairCorr
  0.98TWSMX Strategic AllocationPairCorr
  0.94TWSIX Select Fund IPairCorr
  0.92TWVLX Value Fund InvestorPairCorr
  0.93TWUAX Ultra Fund APairCorr
  0.93TWUIX Ultra Fund IPairCorr
  0.79NPHIX High Income FundPairCorr

Moving against American Mutual Fund

  0.59TWACX Short Term GovernmentPairCorr
  0.58TWARX Short Term GovernmentPairCorr
  0.57TWAVX Short Term GovernmentPairCorr
  0.55CDBCX Diversified BondPairCorr
  0.52TWUSX Short Term GovernmentPairCorr
  0.34TWGAX International GrowthPairCorr
  0.34TWIEX International GrowthPairCorr
  0.63ANTUX Nt Non IntrinsicPairCorr
  0.55TWUOX Short Term GovernmentPairCorr
  0.33ANTSX Nt International SmallPairCorr

Related Correlations Analysis

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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
VLXVX  0.42  0.02 (0.06) 0.16  0.35 
(0.47)
 1.07 
(0.80)
 2.93 
FBMTX  0.46  0.08 (0.02) 0.58  0.46 
(0.49)
 1.05 
(1.04)
 2.97 
RCPTX  0.44  0.03 (0.03) 0.16  0.45 
(0.47)
 1.06 
(0.83)
 3.01 
FAXTX  0.44  0.03 (0.03) 0.16  0.46 
(0.47)
 1.05 
(0.83)
 2.99 
RBEOX  0.44  0.02 (0.03) 0.15  0.45 
(0.46)
 1.00 
(0.84)
 3.02 
AAOTX  0.46  0.08 (0.02) 0.57  0.47 
(0.47)
 1.05 
(1.05)
 2.94 
RDLTX  0.43  0.03 (0.03) 0.16  0.42 
(0.47)
 1.05 
(0.78)
 3.05 
RHLTX  0.44  0.03 (0.03) 0.16  0.44 
(0.47)
 1.05 
(0.83)
 3.03 
RFVTX  0.45  0.08 (0.02) 0.56  0.47 
(0.49)
 1.05 
(1.04)
 3.02 
RBOTX  0.45  0.08 (0.02) 0.55  0.52 
(0.48)
 1.01 
(1.01)
 2.98 

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