American Century Correlations

AVBNX Fund

USD 8.32 0.01 0.12%

The current 90-days correlation between American Century Etf and Vanguard Total Bond is 0.02 (i.e., Significant 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 Etf and DJI is 0.11 (i.e., Average 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.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Century Etf. 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 board of governors.

Moving together with American Mutual Fund

0.69	AVDEX	Avantis International	Pair Corr
0.69	AVDNX	Avantis International	Pair Corr
0.89	AVGNX	Avantis Short Term	Pair Corr
1.0	AVIGX	American Century Etf	Pair Corr
0.89	AVSFX	Avantis Short Term	Pair Corr
0.99	VBTLX	Vanguard Total Bond	Pair Corr
0.96	VBMFX	Vanguard Total Bond	Pair Corr
0.96	VBTIX	Vanguard Total Bond	Pair Corr
0.96	VTBSX	Vanguard Total Bond	Pair Corr
0.96	VTBIX	Vanguard Total Bond	Pair Corr
0.96	VTBNX	Vanguard Total Bond	Pair Corr
0.99	BFAFX	Bond Fund	Pair Corr
0.96	ABNDX	Bond Fund	Pair Corr
0.96	BFACX	Bond Fund	Pair Corr
1.0	FFBOX	American Funds	Pair Corr

Moving against American Mutual Fund

0.67	AVLVX	American Century Etf	Pair Corr
0.67	ALCEX	Avantis Large Cap	Pair Corr
0.66	AVUSX	Avantis Equity	Pair Corr
0.64	AVUNX	Avantis Equity	Pair Corr
0.63	AVCNX	American Century Etf	Pair Corr
0.63	AVUVX	Avantis Small Cap	Pair Corr
0.73	RLSIX	Riverpark Long/short	Pair Corr
0.72	ADX	Adams Diversified Equity	Pair Corr
0.66	DLCIX	Dana Large Cap	Pair Corr
0.62	MRLSX	Amg Renaissance Large	Pair Corr
0.61	RNGHX	New Economy Fund	Pair Corr
0.6	VMGRX	Vanguard Mid Cap	Pair Corr
0.56	ICFAX	Icon Financial	Pair Corr
0.54	FBALX	Fidelity Balanced	Pair Corr
0.46	VAAGX	Virtus Nfj Large	Pair Corr
0.42	DCF	Bny Mellon Alcentra	Pair Corr

Related Correlations Analysis

	VBTIX	AAVXF	SCRYY	444859BR2	AQUI	SCRYX	MSTSX	LBHIX	ID	SCAXF
VBTIX		0.0	-0.37	0.63	0.0	-0.58	-0.31	-0.16	-0.61	0.42	VBTIX
AAVXF	0.0		0.0	0.0	-1.0	0.0	0.0	0.0	0.0	0.0	AAVXF
SCRYY	-0.37	0.0		-0.44	0.0	0.44	0.47	0.5	0.45	-0.63	SCRYY
444859BR2	0.63	0.0	-0.44		0.0	-0.63	-0.62	-0.59	-0.65	0.21	444859BR2
AQUI	0.0	-1.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
SCRYX	-0.58	0.0	0.44	-0.63	0.0		0.58	0.6	0.62	-0.35	SCRYX
MSTSX	-0.31	0.0	0.47	-0.62	0.0	0.58		0.72	0.4	0.03	MSTSX
LBHIX	-0.16	0.0	0.5	-0.59	0.0	0.6	0.72		0.32	-0.21	LBHIX
ID	-0.61	0.0	0.45	-0.65	0.0	0.62	0.4	0.32		-0.44	ID
SCAXF	0.42	0.0	-0.63	0.21	0.0	-0.35	0.03	-0.21	-0.44		SCAXF
	VBTIX	AAVXF	SCRYY	444859BR2	AQUI	SCRYX	MSTSX	LBHIX	ID	SCAXF

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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

LBHIX	+ 0.72	MSTSX
444859BR2	+ 0.63	VBTIX
ID	+ 0.62	SCRYX
LBHIX	+ 0.6	SCRYX
MSTSX	+ 0.58	SCRYX
LBHIX	+ 0.5	SCRYY

High negative correlations

AQUI	- 1.0	AAVXF
ID	- 0.65	444859BR2
SCRYX	- 0.63	444859BR2
SCAXF	- 0.63	SCRYY
MSTSX	- 0.62	444859BR2
ID	- 0.61	VBTIX

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
VBTIX	0.22	(0.03)	0.00	0.55	0.00	0.00	0.42	(0.62)	1.36
AAVXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SCRYY	2.12	0.43	0.13	(1.15)	2.05	(2.81)	5.61	(4.09)	12.99
444859BR2	1.32	0.04	0.00	0.04	0.00	0.00	5.93	(4.60)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SCRYX	0.97	0.09	0.01	0.99	0.96	(1.10)	2.39	(1.69)	7.88
MSTSX	0.49	(0.03)	(0.09)	0.05	0.52	(0.59)	1.21	(1.02)	2.80
LBHIX	0.11	0.00	(0.27)	0.00	0.00	(0.29)	0.24	(0.24)	0.96
ID	3.81	0.25	0.03	1.85	4.78	(4.93)	7.69	(7.69)	23.97
SCAXF	0.70	(0.40)	0.00	(1.01)	0.00	0.00	0.00	0.00	23.47

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