American Century Correlations

QGRO Etf

USD 106.03 0.62 0.59%

The current 90-days correlation between American Century Quality and American Century STOXX is 0.79 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as American Century moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if American Century Quality moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

American Century Correlation With Market

Weak diversification

The correlation between American Century Quality and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Century Quality and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in American Century Quality. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with American Etf

0.89	VUG	Vanguard Growth Index	Pair Corr
0.88	IWF	iShares Russell 1000	Pair Corr
0.87	IVW	iShares SP 500	Pair Corr
0.87	SPYG	SPDR Portfolio SP	Pair Corr
0.89	IUSG	iShares Core SP	Pair Corr
0.88	VONG	Vanguard Russell 1000	Pair Corr
0.85	MGK	Vanguard Mega Cap	Pair Corr
0.88	VRGWX	Vanguard Russell 1000	Pair Corr
0.85	QQQM	Invesco NASDAQ 100	Pair Corr
0.83	IWY	iShares Russell Top	Pair Corr
0.62	DSJA	DSJA	Pair Corr
0.74	RFDA	RiverFront Dynamic	Pair Corr
0.8	JPM	JPMorgan Chase	Pair Corr
0.83	BAC	Bank of America Sell-off Trend	Pair Corr
0.82	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.62	HD	Home Depot	Pair Corr
0.68	T	ATT Inc Earnings Call This Week	Pair Corr
0.8	IBM	International Business Upward Rally	Pair Corr
0.87	WMT	Walmart Aggressive Push	Pair Corr
0.86	CSCO	Cisco Systems	Pair Corr

Moving against American Etf

0.57	JNJ	Johnson Johnson	Pair Corr
0.4	MRK	Merck Company Earnings Call This Week	Pair Corr
0.34	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr

Related Correlations Analysis

	VALQ	QINT	NULG	SPMO	KORP
VALQ		0.57	0.82	0.59	0.71	VALQ
QINT	0.57		0.3	0.33	0.69	QINT
NULG	0.82	0.3		0.77	0.47	NULG
SPMO	0.59	0.33	0.77		0.11	SPMO
KORP	0.71	0.69	0.47	0.11		KORP
	VALQ	QINT	NULG	SPMO	KORP

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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
VALQ	0.50	0.02	(0.05)	0.14	0.61	(0.53)	1.18	(1.02)	4.02
QINT	0.56	0.00	(0.08)	0.10	0.74	(0.58)	1.23	(1.28)	3.92
NULG	0.88	0.04	(0.02)	0.19	1.29	(0.86)	1.73	(2.07)	6.74
SPMO	0.84	0.08	0.02	0.28	1.08	(0.83)	1.59	(1.63)	6.46
KORP	0.29	(0.02)	0.00	(0.11)	0.00	0.00	0.61	(0.70)	2.17

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