American Century Correlations

FDG Etf  USD 102.82  0.04  0.04%   
The current 90-days correlation between American Century ETF and Enerplus is -0.08 (i.e., Good 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

Poor diversification

The correlation between American Century ETF and DJI is 0.65 (i.e., Poor 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 Investing Opportunities 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

  0.98VUG Vanguard Growth IndexPairCorr
  0.98IWF iShares Russell 1000PairCorr
  0.97IVW iShares SP 500 Sell-off TrendPairCorr
  0.97SPYG SPDR Portfolio SPPairCorr
  0.97IUSG iShares Core SPPairCorr
  0.98VONG Vanguard Russell 1000PairCorr
  0.97MGK Vanguard Mega CapPairCorr
  0.98VRGWX Vanguard Russell 1000PairCorr
  0.93MTUM iShares MSCI USAPairCorr
  0.96QQQM Invesco NASDAQ 100PairCorr
  0.95UPRO ProShares UltraPro SP500PairCorr
  0.95QTJA Innovator ETFs TrustPairCorr
  0.91QTOC Innovator ETFs TrustPairCorr
  0.9XTOC Innovator ETFs TrustPairCorr
  0.97QTAP Innovator Growth 100PairCorr
  0.9TSJA TSJAPairCorr
  0.96XTJA Innovator ETFs TrustPairCorr
  0.89DSJA DSJAPairCorr
  0.96XDJA Innovator ETFs TrustPairCorr
  0.97XTAP Innovator Equity AccPairCorr
  0.94CSCO Cisco Systems Aggressive PushPairCorr
  0.91BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.7HD Home DepotPairCorr
  0.75CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.86DIS Walt DisneyPairCorr
  0.91CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.81HPQ HP IncPairCorr
  0.63XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.83JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr

Moving against American Etf

  0.9MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.88JNJ Johnson Johnson Sell-off TrendPairCorr
  0.87KO Coca Cola Aggressive PushPairCorr
  0.75PFE Pfizer Inc Aggressive PushPairCorr
  0.71BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

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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   
NRPCNX
CNXPTF
NRPPTF
PTFERF
NRPERF
CNXERF
  
High negative correlations   
ACICNX
ACINRP

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.