American Century Correlations

AHYB Etf

USD 45.92 0.01 0.02%

The current 90-days correlation between American Century ETF and BondBloxx ETF Trust is 0.79 (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.

American Century Correlation With Market

Very weak diversification

The correlation between American Century ETF and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Century ETF 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 ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with American Etf

0.99	HYG	iShares iBoxx High	Pair Corr
0.99	USHY	iShares Broad USD Sell-off Trend	Pair Corr
0.97	JNK	SPDR Bloomberg High Sell-off Trend	Pair Corr
0.97	SHYG	iShares 0 5	Pair Corr
0.99	HYLB	Xtrackers USD High Sell-off Trend	Pair Corr
0.97	SJNK	SPDR Bloomberg Short Sell-off Trend	Pair Corr
0.95	ANGL	VanEck Fallen Angel	Pair Corr
0.98	FALN	iShares Fallen Angels	Pair Corr
0.91	HYLS	First Trust Tactical	Pair Corr
0.98	HYDW	Xtrackers Low Beta	Pair Corr
0.77	BABX	GraniteShares 175x Long	Pair Corr
0.76	XPP	ProShares Ultra FTSE	Pair Corr
0.79	GDXU	MicroSectors Gold Miners	Pair Corr
0.77	JNUG	Direxion Daily Junior	Pair Corr
0.86	SHNY	Microsectors Gold	Pair Corr
0.75	KO	Coca Cola	Pair Corr
0.89	MMM	3M Company	Pair Corr
0.62	TRV	The Travelers Companies	Pair Corr
0.83	CSCO	Cisco Systems	Pair Corr
0.83	JNJ	Johnson Johnson	Pair Corr
0.9	GE	GE Aerospace	Pair Corr
0.83	IBM	International Business	Pair Corr
0.65	MCD	McDonalds	Pair Corr
0.73	CVX	Chevron Corp Sell-off Trend	Pair Corr

Moving against American Etf

0.52	WTID	UBS ETRACS	Pair Corr
0.59	MSFT	Microsoft	Pair Corr
0.36	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	XB	VEMY	DUKH	MUSE	VSHY	EMHY	NHYM	NJNK	EVHY
XB		0.91	0.61	0.82	0.92	0.9	-0.03	0.97	0.94	XB
VEMY	0.91		0.41	0.91	0.89	0.99	0.06	0.94	0.98	VEMY
DUKH	0.61	0.41		0.4	0.5	0.46	0.02	0.6	0.51	DUKH
MUSE	0.82	0.91	0.4		0.87	0.9	0.04	0.86	0.9	MUSE
VSHY	0.92	0.89	0.5	0.87		0.89	-0.06	0.92	0.91	VSHY
EMHY	0.9	0.99	0.46	0.9	0.89		0.05	0.94	0.98	EMHY
NHYM	-0.03	0.06	0.02	0.04	-0.06	0.05		-0.01	0.03	NHYM
NJNK	0.97	0.94	0.6	0.86	0.92	0.94	-0.01		0.98	NJNK
EVHY	0.94	0.98	0.51	0.9	0.91	0.98	0.03	0.98		EVHY
	XB	VEMY	DUKH	MUSE	VSHY	EMHY	NHYM	NJNK	EVHY

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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

EMHY	+ 0.99	VEMY
EVHY	+ 0.98	VEMY
EVHY	+ 0.98	EMHY
EVHY	+ 0.98	NJNK
NJNK	+ 0.97	XB
EVHY	+ 0.94	XB

High negative correlations

NHYM	- 0.06	VSHY
NHYM	- 0.03	XB
NJNK	- 0.01	NHYM

American Century Constituents Risk-Adjusted Indicators

There is a big difference between American Etf performing well and American Century ETF 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
XB	0.22	0.01	0.22	0.01	0.27	(0.23)	0.46	(0.46)	1.09
VEMY	0.26	0.03	0.22	0.09	0.34	(0.26)	0.58	(0.48)	1.65
DUKH	0.18	(0.01)	0.00	(0.14)	0.00	0.00	0.40	(0.36)	0.84
MUSE	0.15	0.00	0.21	0.27	0.27	(0.19)	0.30	(0.30)	2.11
VSHY	0.18	0.00	0.25	0.00	0.20	(0.21)	0.47	(0.28)	1.12
EMHY	0.24	0.02	0.20	0.05	0.33	(0.25)	0.55	(0.39)	1.53
NHYM	0.19	0.01	0.22	0.31	0.26	(0.22)	0.40	(0.39)	1.90
NJNK	0.21	0.02	0.24	0.03	0.26	(0.21)	0.41	(0.40)	1.27
EVHY	0.19	0.02	0.28	0.05	0.22	(0.20)	0.42	(0.34)	1.10

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