American Beacon Correlations

Mutual Funds . USA . 
Fund . American Beacon Shapiro
SHXPX Fund  USD 14.24  0.06  0.42%   
The current 90-days correlation between American Beacon Shapiro and American Beacon Shapiro is 1.0 (i.e., No risk reduction). 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

Modest diversification

The correlation between American Beacon Shapiro and DJI is 0.2 (i.e., Modest 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 american community survey.

Moving together with American Mutual Fund

  0.76BRLGX American Beacon BridgewayPairCorr
  0.84BRLVX American Beacon BridgewayPairCorr
  0.74STMGX American Beacon StephensPairCorr
  0.87STSGX American Beacon StephensPairCorr
  0.87STSIX American Beacon StephensPairCorr
  0.87STSRX American Beacon StephensPairCorr
  0.71TIVFX Tocqueville IntePairCorr
  0.68GHQIX Amer Beacon GarciaPairCorr
  0.65GHQPX Amer Beacon GarciaPairCorr
  0.68GHQRX American Beacon GarciaPairCorr
  0.68GHQYX Amer Beacon GarciaPairCorr
  0.82AABPX American Beacon BalancedPairCorr
  0.85AADEX American Beacon LargePairCorr
  0.84AADBX American Beacon BalancedPairCorr
  0.68AAERX American Beacon IntlPairCorr
  0.71SFMRX American Beacon StephensPairCorr
  0.84AAGPX American Beacon LargePairCorr
  0.68AAIPX American Beacon IntePairCorr
  0.68AAIEX American Beacon IntePairCorr
  0.71SFMIX American Beacon StephensPairCorr
  0.68AAISX American Beacon IntePairCorr
  0.85AALRX American Beacon LargePairCorr
  0.84BWLYX American Beacon BridgewayPairCorr
  0.85BWLRX American Beacon BridgewayPairCorr
  0.79BWLIX American Beacon BridgewayPairCorr
  0.84BWLCX American Beacon BridgewayPairCorr
  0.84BWLAX American Beacon BridgewayPairCorr
  0.87AASRX American Beacon SmallPairCorr
  0.9AASSX American Beacon SmallPairCorr
  0.8ABCAX American BeaconPairCorr

Moving against American Mutual Fund

  0.36SSIJX American Beacon SsiPairCorr
  0.35TFBAX American Beacon TwenPairCorr
  0.35TFBRX American Beacon TwenPairCorr
  0.31TFBYX American Beacon TwenPairCorr

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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