American Century Correlations

Mutual Funds . USA . 
Fund . American Century High
ACHFX Fund  USD 8.64  0.01  0.12%   
The current 90-days correlation between American Century High and Ftufox is 0.31 (i.e., Weak 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

Good diversification

The correlation between American Century High and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Century High and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Century High. 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 census.

Moving together with American Mutual Fund

  0.79CDBCX Diversified BondPairCorr
  0.79TWACX Short Term GovernmentPairCorr
  0.68TWADX Value Fund APairCorr
  0.82TWARX Short Term GovernmentPairCorr
  0.79TWAVX Short Term GovernmentPairCorr
  0.76TWEAX Equity IncomePairCorr
  0.76TWEIX Equity IncomePairCorr
  0.82TWGAX International GrowthPairCorr
  0.82TWIEX International GrowthPairCorr
  0.83TWTCX Intermediate Term TaxPairCorr
  0.88TWTIX Intermediate Term TaxPairCorr
  0.8TWUSX Short Term GovernmentPairCorr
  0.68TWVLX Value Fund InvestorPairCorr
  0.81TWUOX Short Term GovernmentPairCorr
  0.86TWWOX Intermediate Term TaxPairCorr
  0.95NPHIX High Income FundPairCorr

Moving against American Mutual Fund

  0.44TWCCX Ultra Fund CPairCorr
  0.39TWCAX Select Fund APairCorr
  0.39TWCIX Select Fund InvestorPairCorr
  0.39TWCGX Growth Fund InvestorPairCorr
  0.44TWCUX Ultra Fund InvestorPairCorr
  0.39TWGIX Growth Fund IPairCorr
  0.39TWRCX Growth Fund CPairCorr
  0.38TWSIX Select Fund IPairCorr
  0.44TWUAX Ultra Fund APairCorr
  0.44TWUIX Ultra Fund IPairCorr

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   
JTSQX
+ 0.96
WABMSX
OPTCX
+ 0.78
DIHRX
DIHRX
+ 0.61
FTUFOX
FZDAQX
+ 0.59
FTUFOX
FZDAQX
+ 0.58
WABMSX
FZDAQX
+ 0.52
JTSQX
  
High negative correlations   
JTSQX
- 0.01
FTUFOX

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.

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