American Beacon Correlations

Mutual Funds USA . 
Fund . American Beacon Stephens
SFMIX Fund  USD 42.34  0.35  0.83%   
The current 90-days correlation between American Beacon Stephens and Ridgeworth Innovative Growth is 0.02 (i.e., Significant diversification). The correlation of American Beacon 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 Beacon Correlation With Market

Very poor diversification

The correlation between American Beacon Stephens and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Beacon Stephens and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in American Beacon Stephens. 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 gross domestic product.

Moving together with American Mutual Fund

  0.87SSIJX American Beacon SsiPairCorr
  0.94BRLGX American Beacon BridgewayPairCorr
  0.97BRLVX American Beacon BridgewayPairCorr
  0.63TFBCX American Beacon TwenPairCorr
  0.66TFBAX American Beacon TwenPairCorr
  0.7TFBRX American Beacon TwenPairCorr
  0.68TFBYX American Beacon TwenPairCorr
  1.0STMGX American Beacon StephensPairCorr
  0.96STSGX American Beacon StephensPairCorr
  0.92STSIX American Beacon StephensPairCorr
  0.96STSRX American Beacon StephensPairCorr
  0.95AABPX American Beacon BalancedPairCorr
  0.96AADEX American Beacon LargePairCorr
  0.95AADBX American Beacon BalancedPairCorr
  1.0SFMRX American Beacon StephensPairCorr
  0.96AAGPX American Beacon LargePairCorr
  0.96AALRX American Beacon LargePairCorr
  0.97BWLYX American Beacon BridgewayPairCorr
  0.97BWLRX American Beacon BridgewayPairCorr
  0.92BWLIX American Beacon BridgewayPairCorr
  0.97BWLCX American Beacon BridgewayPairCorr
  0.97BWLAX American Beacon BridgewayPairCorr
  0.94AASRX American Beacon SmallPairCorr
  0.94AASSX American Beacon SmallPairCorr
  0.91ABCAX American BeaconPairCorr

Moving against American Mutual Fund

  0.75GHQIX Amer Beacon GarciaPairCorr
  0.75GHQPX Amer Beacon GarciaPairCorr
  0.75GHQYX Amer Beacon GarciaPairCorr
  0.74GHQRX American Beacon GarciaPairCorr
  0.43TIVFX Tocqueville IntePairCorr
  0.73AAIPX American Beacon IntePairCorr
  0.72AAERX American Beacon IntlPairCorr
  0.72AAIEX American Beacon IntePairCorr
  0.72AAISX American Beacon IntePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American Beacon 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 Beacon'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.

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