American Century Correlations

AVDS Etf

53.12 0.30 0.57%

The current 90-days correlation between American Century ETF and Dimensional ETF Trust is 0.94 (i.e., Almost no 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

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.

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 signals in unemployment.

Moving together with American Etf

0.98	SCZ	iShares MSCI EAFE	Pair Corr
0.96	VSS	Vanguard FTSE All	Pair Corr
0.99	GWX	SPDR SP International	Pair Corr
0.98	ISCF	iShares MSCI Intl	Pair Corr
0.99	DFIS	Dimensional ETF Trust	Pair Corr
0.72	GREI	Goldman Sachs Future	Pair Corr

Moving against American Etf

0.8	FNTC	Direxion	Pair Corr
0.52	PXMV	Invesco SP MidCap	Pair Corr
0.52	IGA	Voya Global Advantage	Pair Corr
0.49	MAGS	Roundhill Magnificent	Pair Corr
0.33	IVH	IVH	Pair Corr
0.67	BITO	ProShares Bitcoin Buyout Trend	Pair Corr
0.65	TFLR	T Rowe Price	Pair Corr
0.61	SGOV	iShares 0 3	Pair Corr
0.61	BRW	Saba Capital Income	Pair Corr
0.43	EQWL	Invesco SP 100	Pair Corr
0.41	VTI	Vanguard Total Stock	Pair Corr
0.4	USXF	iShares ESG Advanced	Pair Corr
0.38	VOO	Vanguard SP 500	Pair Corr
0.36	VOOV	Vanguard SP 500	Pair Corr
0.69	LONZ	PIMCO ETF Trust	Pair Corr
0.69	VFH	Vanguard Financials Index	Pair Corr
0.61	CSHI	SHP ETF Trust	Pair Corr
0.54	TARK	AXS 2X Innovation	Pair Corr
0.47	MVPS	Amplify Thematic All	Pair Corr
0.46	XDJA	Innovator ETFs Trust	Pair Corr

Related Correlations Analysis

	DISV	VB	MMSC	VIOG	VIOV	VIOO	DWAS	VTWG	VTWV
DISV		-0.5	-0.45	-0.36	-0.51	-0.45	-0.47	-0.48	-0.47	DISV
VB	-0.5		0.99	0.96	0.97	0.97	0.99	0.99	0.96	VB
MMSC	-0.45	0.99		0.96	0.95	0.96	0.99	0.99	0.94	MMSC
VIOG	-0.36	0.96	0.96		0.97	0.99	0.98	0.97	0.98	VIOG
VIOV	-0.51	0.97	0.95	0.97		0.99	0.98	0.98	1.0	VIOV
VIOO	-0.45	0.97	0.96	0.99	0.99		0.98	0.98	0.99	VIOO
DWAS	-0.47	0.99	0.99	0.98	0.98	0.98		0.99	0.98	DWAS
VTWG	-0.48	0.99	0.99	0.97	0.98	0.98	0.99		0.98	VTWG
VTWV	-0.47	0.96	0.94	0.98	1.0	0.99	0.98	0.98		VTWV
	DISV	VB	MMSC	VIOG	VIOV	VIOO	DWAS	VTWG	VTWV

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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

VTWV	+ 1.0	VIOV
MMSC	+ 0.99	VB
DWAS	+ 0.99	VB
VTWG	+ 0.99	VB
DWAS	+ 0.99	MMSC
VTWG	+ 0.99	MMSC

High negative correlations

VIOV	- 0.51	DISV
VB	- 0.5	DISV
VTWG	- 0.48	DISV
VTWV	- 0.47	DISV
DWAS	- 0.47	DISV
VIOO	- 0.45	DISV

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
DISV	0.72	(0.16)	0.00	(0.22)	0.00	0.00	1.34	(1.69)	4.15
VB	0.76	0.02	0.05	0.14	0.72	(0.80)	1.68	(1.21)	5.31
MMSC	0.89	0.01	0.04	0.13	1.00	(0.94)	1.97	(2.02)	6.85
VIOG	0.93	(0.07)	(0.01)	0.08	0.91	(1.05)	2.14	(1.41)	7.53
VIOV	0.93	(0.04)	0.02	0.09	0.86	(1.09)	1.90	(1.70)	7.84
VIOO	0.92	(0.05)	0.01	0.09	0.87	(1.02)	2.01	(1.56)	7.52
DWAS	1.15	(0.03)	0.04	0.10	1.25	(1.30)	2.60	(2.34)	8.26
VTWG	0.99	(0.02)	0.04	0.11	1.01	(1.06)	2.24	(1.70)	7.36
VTWV	0.92	(0.07)	(0.01)	0.07	0.88	(1.05)	1.93	(1.72)	8.11

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