American Beacon Correlations

Mutual Funds . USA . 
Fund . American Beacon Shapiro
SHXIX Fund  USD 14.78  0.04  0.27%   
The current 90-days correlation between American Beacon Shapiro and Ab Value Fund is 0.13 (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 poor diversification

The correlation between American Beacon Shapiro and DJI is 0.82 (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 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 signals in gross domestic product.

Moving together with American Mutual Fund

  0.75SSIJX American Beacon SsiPairCorr
  0.83BRLGX American Beacon BridgewayPairCorr
  0.91BRLVX American Beacon Bridgeway Potential GrowthPairCorr
  0.63TFBRX American Beacon TwenPairCorr
  0.62TFBYX American Beacon TwenPairCorr
  0.84STMGX American Beacon StephensPairCorr
  0.91STSGX American Beacon StephensPairCorr
  0.86STSIX American Beacon StephensPairCorr
  0.9STSRX American Beacon StephensPairCorr
  0.94AABPX American Beacon BalancedPairCorr
  0.91AADEX American Beacon LargePairCorr
  0.85AADBX American Beacon BalancedPairCorr
  0.84SFMRX American Beacon StephensPairCorr
  0.85AAGPX American Beacon LargePairCorr
  0.84SFMIX American Beacon StephensPairCorr
  0.91AALRX American Beacon LargePairCorr
  0.91BWLYX American Beacon BridgewayPairCorr
  0.91BWLRX American Beacon BridgewayPairCorr
  0.85BWLIX American Beacon BridgewayPairCorr
  0.91BWLCX American Beacon BridgewayPairCorr
  0.91BWLAX American Beacon BridgewayPairCorr
  0.91AASRX American Beacon SmallPairCorr
  0.91AASSX American Beacon SmallPairCorr
  0.84ABCAX American BeaconPairCorr

Moving against American Mutual Fund

  0.46GHQIX Amer Beacon GarciaPairCorr
  0.46GHQPX Amer Beacon GarciaPairCorr
  0.46GHQYX Amer Beacon GarciaPairCorr
  0.45GHQRX American Beacon GarciaPairCorr
  0.45AAIPX American Beacon IntePairCorr
  0.44AAERX American Beacon IntlPairCorr
  0.44AAIEX American Beacon IntePairCorr
  0.44AAISX 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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