American Century Correlations
AHYB Etf | USD 46.19 0.10 0.22% |
The current 90-days correlation between American Century ETF and First Trust Senior is 0.33 (i.e., Weak 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.
American Century Correlation With Market
Very weak diversification
The correlation between American Century ETF and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Century ETF and DJI in the same portfolio, assuming nothing else is changed.
American |
Moving together with American Etf
0.91 | HYG | iShares iBoxx High Sell-off Trend | PairCorr |
0.93 | USHY | iShares Broad USD Sell-off Trend | PairCorr |
0.95 | JNK | SPDR Bloomberg High | PairCorr |
0.81 | SHYG | iShares 0 5 | PairCorr |
0.93 | HYLB | Xtrackers USD High Sell-off Trend | PairCorr |
0.81 | SJNK | SPDR Bloomberg Short Sell-off Trend | PairCorr |
0.97 | ANGL | VanEck Fallen Angel | PairCorr |
0.97 | FALN | iShares Fallen Angels | PairCorr |
0.92 | HYLS | First Trust Tactical | PairCorr |
0.84 | HYDW | Xtrackers Low Beta | PairCorr |
0.62 | VTV | Vanguard Value Index | PairCorr |
0.64 | IDU | iShares Utilities ETF | PairCorr |
0.61 | DIVG | Invesco Exchange Traded | PairCorr |
Moving against American Etf
0.6 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
0.37 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
Related Correlations Analysis
-0.44 | 0.95 | -0.82 | -0.36 | FTSL | ||
-0.44 | -0.29 | 0.85 | 0.87 | LMBS | ||
0.95 | -0.29 | -0.71 | -0.24 | FTSM | ||
-0.82 | 0.85 | -0.71 | 0.75 | FIXD | ||
-0.36 | 0.87 | -0.24 | 0.75 | FMB | ||
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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
| High negative correlations
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American Century Constituents Risk-Adjusted Indicators
There is a big difference between American Etf performing well and American Century ETF 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 | ||
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FTSL | 0.07 | 0.02 | (0.59) | 0.52 | 0.00 | 0.18 | 0.88 | |||
LMBS | 0.12 | (0.01) | (0.66) | 0.68 | 0.17 | 0.27 | 0.88 | |||
FTSM | 0.02 | 0.01 | (3.61) | (1.33) | 0.00 | 0.07 | 0.12 | |||
FIXD | 0.26 | (0.03) | 0.00 | 0.61 | 0.00 | 0.54 | 1.38 | |||
FMB | 0.16 | 0.01 | (0.41) | 0.05 | 0.27 | 0.35 | 1.54 |