American Century Correlations

AVDS Etf

52.85 0.02 0.04%

The current 90-days correlation between American Century ETF and JPMorgan Fundamental Data is 0.23 (i.e., Modest 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

Weak diversification

The correlation between American Century ETF and DJI is 0.36 (i.e., 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.

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 etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with American Etf

0.85	SCZ	iShares MSCI EAFE	Pair Corr
0.81	VSS	Vanguard FTSE All	Pair Corr
0.83	GWX	SPDR SP International	Pair Corr
0.85	ISCF	iShares MSCI Intl	Pair Corr
0.84	DFIS	Dimensional ETF Trust	Pair Corr
0.68	CAT	Caterpillar Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.62	-0.43	-0.5	0.58	0.48	0.34	0.62	-0.15	-0.63	META
MSFT	0.62		-0.46	-0.23	0.48	0.2	0.55	0.3	-0.01	-0.46	MSFT
UBER	-0.43	-0.46		0.65	-0.3	0.27	-0.11	-0.25	0.31	0.78	UBER
F	-0.5	-0.23	0.65		0.05	-0.2	0.01	-0.06	0.09	0.9	F
T	0.58	0.48	-0.3	0.05		0.11	0.51	0.59	-0.17	-0.17	T
A	0.48	0.2	0.27	-0.2	0.11		0.1	0.26	0.25	-0.17	A
CRM	0.34	0.55	-0.11	0.01	0.51	0.1		0.0	0.27	-0.16	CRM
JPM	0.62	0.3	-0.25	-0.06	0.59	0.26	0.0		-0.55	-0.24	JPM
MRK	-0.15	-0.01	0.31	0.09	-0.17	0.25	0.27	-0.55		0.16	MRK
XOM	-0.63	-0.46	0.78	0.9	-0.17	-0.17	-0.16	-0.24	0.16		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.9	F
XOM	+ 0.78	UBER
F	+ 0.65	UBER
MSFT	+ 0.62	META
JPM	+ 0.62	META
JPM	+ 0.59	T

High negative correlations

XOM	- 0.63	META
MRK	- 0.55	JPM
F	- 0.5	META
XOM	- 0.46	MSFT
UBER	- 0.46	MSFT
UBER	- 0.43	META

American Century Competition 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
META	1.41	0.26	0.13	0.73	1.40	(1.61)	3.43	(2.31)	7.43
MSFT	1.12	(0.03)	0.00	(0.42)	0.00	0.00	2.20	(2.79)	7.31
UBER	1.56	(0.23)	0.00	(3.08)	0.00	0.00	2.67	(5.35)	12.29
F	1.47	(0.18)	0.00	(0.20)	0.00	0.00	2.57	(2.90)	11.21
T	1.00	0.10	0.04	0.30	1.08	(1.12)	1.91	(1.84)	7.94
A	1.15	0.13	0.04	1.36	1.14	(1.37)	2.81	(2.16)	5.70
CRM	1.55	0.28	0.13	0.81	1.42	(1.88)	3.96	(2.95)	14.80
JPM	1.05	0.25	0.15	0.96	1.05	(1.23)	1.92	(1.42)	15.87
MRK	1.03	(0.11)	0.00	(0.43)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.82	(0.16)	0.00	(0.28)	0.00	0.00	1.71	(1.74)	6.06

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