American Century Correlations

AACZX Fund

USD 11.48 0.22 0.08%

The current 90-days correlation between American Century One and Mid Cap Value is 0.71 (i.e., Poor diversification). The correlation of American Century 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 Century Correlation With Market

Average diversification

The correlation between American Century One and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Century One and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. 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 nation.

Moving together with American Mutual Fund

0.73	TWADX	Value Fund A	Pair Corr
0.68	TWCCX	Ultra Fund C	Pair Corr
0.88	TWCAX	Select Fund A	Pair Corr
0.88	TWCIX	Select Fund Investor	Pair Corr
0.68	TWCGX	Growth Fund Investor	Pair Corr
0.98	TWBIX	Balanced Fund Investor	Pair Corr
0.65	TWGAX	International Growth	Pair Corr
0.68	TWGIX	Growth Fund I	Pair Corr
0.79	TWMIX	Emerging Markets	Pair Corr
0.87	TWRCX	Growth Fund C	Pair Corr
0.71	TWSCX	Strategic Allocation	Pair Corr
0.69	TWSAX	Strategic Allocation	Pair Corr
0.7	TWSMX	Strategic Allocation	Pair Corr
0.68	TWSIX	Select Fund I	Pair Corr
0.86	TWUAX	Ultra Fund A	Pair Corr
0.69	ANONX	Small Cap Growth	Pair Corr

Related Correlations Analysis

	AMDVX	AMEIX	AMGIX	AMKIX	ADRVX	ADRRX	ADSIX	ADVYX	ADVRX
AMDVX		0.01	0.18	-0.22	0.05	0.08	0.07	-0.08	-0.08	AMDVX
AMEIX	0.01		0.93	0.88	0.51	0.75	0.77	0.74	0.47	AMEIX
AMGIX	0.18	0.93		0.71	0.56	0.59	0.6	0.74	0.46	AMGIX
AMKIX	-0.22	0.88	0.71		0.33	0.68	0.7	0.7	0.43	AMKIX
ADRVX	0.05	0.51	0.56	0.33		0.41	0.41	0.75	0.8	ADRVX
ADRRX	0.08	0.75	0.59	0.68	0.41		1.0	0.36	0.36	ADRRX
ADSIX	0.07	0.77	0.6	0.7	0.41	1.0		0.38	0.37	ADSIX
ADVYX	-0.08	0.74	0.74	0.7	0.75	0.36	0.38		0.75	ADVYX
ADVRX	-0.08	0.47	0.46	0.43	0.8	0.36	0.37	0.75		ADVRX
	AMDVX	AMEIX	AMGIX	AMKIX	ADRVX	ADRRX	ADSIX	ADVYX	ADVRX

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

ADSIX	+ 1.0	ADRRX
AMGIX	+ 0.93	AMEIX
AMKIX	+ 0.88	AMEIX
ADVRX	+ 0.8	ADRVX
ADSIX	+ 0.77	AMEIX
ADRRX	+ 0.75	AMEIX

High negative correlations

AMKIX	- 0.22	AMDVX
ADVRX	- 0.08	AMDVX
ADVYX	- 0.08	AMDVX

Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American Century 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 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
AMDVX	0.52	(0.01)	(0.09)	0.02	0.67	(0.54)	1.16	(1.02)	3.32
AMEIX	0.58	0.05	0.05	0.11	0.84	(0.57)	1.38	(1.30)	3.81
AMGIX	0.52	0.02	0.02	0.09	0.59	(0.54)	1.14	(1.14)	3.65
AMKIX	0.76	0.10	0.08	0.19	0.92	(0.84)	1.63	(1.16)	5.60
ADRVX	0.16	0.00	(0.29)	0.04	0.14	(0.19)	0.32	(0.32)	0.86
ADRRX	0.74	0.07	0.01	0.78	1.08	(0.71)	1.81	(1.72)	4.30
ADSIX	0.74	0.01	0.01	0.08	1.09	(0.71)	1.78	(1.74)	4.32
ADVYX	0.17	0.02	(0.19)	0.32	0.09	(0.19)	0.33	(0.32)	0.98
ADVRX	0.16	(0.01)	(0.31)	(0.20)	0.19	(0.17)	0.32	(0.32)	0.86

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