American Century Correlations

ACDOX Fund

9.12 0.01 0.11%

The current 90-days correlation between American Century Div and Mid Cap Value is -0.12 (i.e., Good diversification). 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

Average diversification

The correlation between American Century Diversified and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Century Diversified 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 Diversified. 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 persons.

Moving together with American Mutual Fund

1.0	CDBCX	Diversified Bond	Pair Corr
0.92	TWACX	Short Term Government	Pair Corr
0.93	TWARX	Short Term Government	Pair Corr
0.94	TWAVX	Short Term Government	Pair Corr
0.75	TWGAX	International Growth	Pair Corr
0.7	TWIEX	International Growth	Pair Corr
0.84	TWTCX	Intermediate Term Tax	Pair Corr
0.76	TWTIX	Intermediate Term Tax	Pair Corr
0.89	TWUSX	Short Term Government	Pair Corr
0.91	TWUOX	Short Term Government	Pair Corr
0.81	TWWOX	Intermediate Term Tax	Pair Corr

Moving against American Mutual Fund

0.78	TWCCX	Ultra Fund C	Pair Corr
0.75	AMEIX	Equity Growth	Pair Corr
0.75	TWCAX	Select Fund A	Pair Corr
0.74	TWCIX	Select Fund Investor	Pair Corr
0.71	AMGIX	Income Growth	Pair Corr
0.71	TWADX	Value Fund A	Pair Corr
0.71	TWCGX	Growth Fund Investor	Pair Corr
0.53	AMDVX	Mid Cap Value	Pair Corr
0.53	AMVYX	Mid Cap Value	Pair Corr
0.52	AMVGX	Mid Cap Value	Pair Corr
0.5	AMVRX	Mid Cap Value	Pair Corr
0.77	TWCUX	Ultra Fund Investor	Pair Corr
0.75	TWSIX	Select Fund I	Pair Corr
0.74	TWHIX	Heritage Fund Investor	Pair Corr
0.73	TWGIX	Growth Fund I	Pair Corr
0.72	TWRCX	Growth Fund C	Pair Corr
0.55	TWEAX	Equity Income	Pair Corr
0.55	TWEIX	Equity Income	Pair Corr
0.55	TWSAX	Strategic Allocation	Pair Corr
0.46	TWSMX	Strategic Allocation	Pair Corr
0.79	TWUIX	Ultra Fund I	Pair Corr
0.78	TWUAX	Ultra Fund A	Pair Corr
0.66	ANONX	Small Cap Growth	Pair Corr
0.66	ANOGX	Small Cap Growth	Pair Corr
0.66	ANOIX	Small Cap Growth	Pair Corr
0.66	ANODX	Small Cap Growth	Pair Corr

Related Correlations Analysis

	AMDVX	AMEIX	AMGIX	CDBCX	AMKIX	ADRVX	ADRRX	ADSIX	ADVYX
AMDVX		0.7	0.89	-0.55	0.08	-0.48	0.69	0.7	-0.49	AMDVX
AMEIX	0.7		0.88	-0.78	0.28	-0.73	0.99	0.95	-0.76	AMEIX
AMGIX	0.89	0.88		-0.74	0.29	-0.65	0.87	0.86	-0.68	AMGIX
CDBCX	-0.55	-0.78	-0.74		-0.03	0.93	-0.77	-0.8	0.96	CDBCX
AMKIX	0.08	0.28	0.29	-0.03		0.12	0.29	0.25	0.05	AMKIX
ADRVX	-0.48	-0.73	-0.65	0.93	0.12		-0.72	-0.75	0.97	ADRVX
ADRRX	0.69	0.99	0.87	-0.77	0.29	-0.72		0.95	-0.76	ADRRX
ADSIX	0.7	0.95	0.86	-0.8	0.25	-0.75	0.95		-0.78	ADSIX
ADVYX	-0.49	-0.76	-0.68	0.96	0.05	0.97	-0.76	-0.78		ADVYX
	AMDVX	AMEIX	AMGIX	CDBCX	AMKIX	ADRVX	ADRRX	ADSIX	ADVYX

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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

ADRRX	+ 0.99	AMEIX
ADVYX	+ 0.97	ADRVX
ADVYX	+ 0.96	CDBCX
ADSIX	+ 0.95	AMEIX
ADSIX	+ 0.95	ADRRX
ADRVX	+ 0.93	CDBCX

High negative correlations

ADSIX	- 0.8	CDBCX
ADVYX	- 0.78	ADSIX
CDBCX	- 0.78	AMEIX
ADRRX	- 0.77	CDBCX
ADVYX	- 0.76	ADRRX
ADVYX	- 0.76	AMEIX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AMDVX	0.51	0.07	(0.10)	(2.29)	0.42	(0.63)	0.88	(0.82)	3.22
AMEIX	0.56	0.01	(0.01)	0.13	0.69	(0.62)	1.13	(1.55)	3.88
AMGIX	0.55	0.00	(0.08)	0.00	0.49	(0.61)	1.15	(0.90)	3.48
CDBCX	0.22	(0.05)	0.00	(1.09)	0.00	0.00	0.43	(0.55)	1.28
AMKIX	0.76	0.01	(0.11)	0.02	1.01	(0.81)	1.51	(1.86)	4.82
ADRVX	0.23	(0.05)	0.00	(0.78)	0.00	0.00	0.43	(0.54)	1.39
ADRRX	0.73	0.00	(0.01)	0.12	1.05	(0.69)	1.93	(2.18)	5.07
ADSIX	0.76	0.10	(0.02)	(1.45)	1.14	(0.71)	1.94	(2.19)	5.07
ADVYX	0.22	(0.03)	0.00	0.56	0.00	0.00	0.43	(0.65)	1.39

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