American Century Correlations

ASLDX Fund

134.63 1.21 0.91%

The current 90-days correlation between American Century Select and Us Targeted Value is 0.11 (i.e., Average 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

Poor diversification

The correlation between American Century Select and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Century Select 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 Select. 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 small area income & poverty estimates.

Moving together with American Mutual Fund

0.79	AMEIX	Equity Growth	Pair Corr
0.86	AMGIX	Income Growth	Pair Corr
0.99	TWCCX	Ultra Fund C	Pair Corr
0.83	AMVYX	Mid Cap Value	Pair Corr
0.84	AMVRX	Mid Cap Value	Pair Corr
0.7	TWBIX	Balanced Fund Investor	Pair Corr
0.83	AMVGX	Mid Cap Value	Pair Corr
0.72	TWGAX	International Growth	Pair Corr
0.76	TWGGX	Global Growth	Pair Corr
0.72	TWIEX	International Growth	Pair Corr
0.98	TWRCX	Growth Fund C	Pair Corr
0.71	TWSCX	Strategic Allocation	Pair Corr
0.71	TWSAX	Strategic Allocation	Pair Corr
0.71	TWSMX	Strategic Allocation	Pair Corr
0.69	NPHIX	High Income Fund	Pair Corr

Related Correlations Analysis

	OTCIX	TEPLX	LZOEX	DFSVX	RLEMX	DFSTX	VAFIX	DFISX	MRSKX	DFFVX
OTCIX		0.26	-0.17	-0.09	-0.17	0.09	0.91	-0.03	-0.04	-0.07	OTCIX
TEPLX	0.26		0.88	0.88	0.88	0.92	0.15	0.94	0.93	0.89	TEPLX
LZOEX	-0.17	0.88		0.94	1.0	0.91	-0.27	0.97	0.95	0.94	LZOEX
DFSVX	-0.09	0.88	0.94		0.94	0.98	-0.21	0.96	0.96	1.0	DFSVX
RLEMX	-0.17	0.88	1.0	0.94		0.91	-0.27	0.97	0.95	0.94	RLEMX
DFSTX	0.09	0.92	0.91	0.98	0.91		-0.06	0.95	0.95	0.99	DFSTX
VAFIX	0.91	0.15	-0.27	-0.21	-0.27	-0.06		-0.13	-0.13	-0.19	VAFIX
DFISX	-0.03	0.94	0.97	0.96	0.97	0.95	-0.13		0.98	0.96	DFISX
MRSKX	-0.04	0.93	0.95	0.96	0.95	0.95	-0.13	0.98		0.96	MRSKX
DFFVX	-0.07	0.89	0.94	1.0	0.94	0.99	-0.19	0.96	0.96		DFFVX
	OTCIX	TEPLX	LZOEX	DFSVX	RLEMX	DFSTX	VAFIX	DFISX	MRSKX	DFFVX

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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

RLEMX	+ 1.0	LZOEX
DFFVX	+ 1.0	DFSVX
DFFVX	+ 0.99	DFSTX
DFSTX	+ 0.98	DFSVX
MRSKX	+ 0.98	DFISX
DFISX	+ 0.97	LZOEX

High negative correlations

VAFIX	- 0.27	RLEMX
VAFIX	- 0.27	LZOEX
VAFIX	- 0.21	DFSVX
DFFVX	- 0.19	VAFIX
RLEMX	- 0.17	OTCIX
LZOEX	- 0.17	OTCIX

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
OTCIX	0.86	(0.07)	(0.06)	0.00	1.08	(0.87)	1.35	(1.77)	5.44
TEPLX	0.59	0.03	0.02	0.11	0.70	(0.60)	1.26	(1.25)	3.87
LZOEX	0.52	0.21	0.27	0.53	0.00	(0.61)	1.28	(1.09)	2.66
DFSVX	0.84	0.18	0.21	0.22	0.54	(1.00)	2.60	(1.40)	4.92
RLEMX	0.52	0.21	0.27	0.52	0.00	(0.63)	1.29	(1.09)	2.64
DFSTX	0.76	0.12	0.14	0.17	0.60	(0.89)	2.29	(1.34)	4.53
VAFIX	0.91	(0.09)	0.00	(0.03)	0.00	0.00	1.71	(2.50)	5.85
DFISX	0.58	0.16	0.17	0.32	0.47	(0.64)	1.50	(1.18)	3.57
MRSKX	0.56	0.18	0.23	0.40	0.23	(0.67)	1.50	(0.94)	4.22
DFFVX	0.79	0.16	0.20	0.22	0.49	(0.94)	2.49	(1.35)	4.74

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