American Beacon Correlations

Mutual Funds . USA . 
Fund . American Beacon Shapiro
SHDPX Fund  USD 10.24  0.07  0.69%   
The current 90-days correlation between American Beacon Shapiro and Artisan Developing World is 0.15 (i.e., Average 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 weak diversification

The correlation between American Beacon Shapiro and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Beacon Shapiro 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 Shapiro. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with American Mutual Fund

  0.84VSIIX Vanguard Small CapPairCorr
  0.84VISVX Vanguard Small CapPairCorr
  0.86DFSVX Us Small CapPairCorr
  0.83DFFVX Us Targeted ValuePairCorr
  0.9UBVCX Undiscovered ManagersPairCorr
  0.9UBVAX Undiscovered ManagersPairCorr
  0.9UBVSX Undiscovered ManagersPairCorr
  0.99AVFIX American Beacon SmallPairCorr
  0.67SMPSX Semiconductor UltrasectorPairCorr
  0.77RSNYX Victory Global NaturalPairCorr
  0.77RSNRX Victory Global NaturalPairCorr
  0.78RGNCX Victory Global NaturalPairCorr
  0.91RMQAX Monthly RebalancePairCorr
  0.91RMQHX Monthly RebalancePairCorr
  0.74INTC IntelPairCorr
  0.67CVX Chevron Corp Earnings Call TodayPairCorr
  0.75HPQ HP IncPairCorr
  0.77XOM Exxon Mobil Corp Earnings Call TodayPairCorr
  0.78TRV The Travelers CompaniesPairCorr
  0.73VZ Verizon CommunicationsPairCorr

Moving against American Mutual Fund

  0.73BA BoeingPairCorr
  0.52PFE Pfizer Inc Earnings Call This WeekPairCorr

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   
OSTGX
+ 0.88
SHXPX
ADNPX
+ 0.58
JMCGX
OSTGX
+ 0.57
ARTYX
SHXPX
+ 0.49
ARTYX
ADNPX
+ 0.44
ARTYX
JMCGX
+ 0.36
ARTYX
  
High negative correlations   
ADNPX
- 0.25
OSTGX
ADNPX
- 0.25
SHXPX

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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