American Century Correlations

ANOHX Fund

USD 23.27 0.07 0.30%

The current 90-days correlation between American Century Small and Pgim Conservative Retirement is -0.17 (i.e., Good 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

Poor diversification

The correlation between American Century Small and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Century Small 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 Small. 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 rate.

Moving together with American Mutual Fund

0.94	AMEIX	Equity Growth	Pair Corr
0.92	AMGIX	Income Growth	Pair Corr
0.89	TWCCX	Ultra Fund C	Pair Corr
0.9	TWCAX	Select Fund A	Pair Corr
0.9	TWCIX	Select Fund Investor	Pair Corr
0.89	TWCGX	Growth Fund Investor	Pair Corr
0.93	TWBIX	Balanced Fund Investor	Pair Corr
0.9	TWCUX	Ultra Fund Investor	Pair Corr
0.89	TWGIX	Growth Fund I	Pair Corr
0.92	TWHIX	Heritage Fund Investor	Pair Corr
0.88	TWRCX	Growth Fund C	Pair Corr
0.67	TWSAX	Strategic Allocation:	Pair Corr
0.63	TWSMX	Strategic Allocation:	Pair Corr
0.9	TWSIX	Select Fund I	Pair Corr
0.9	TWUAX	Ultra Fund A	Pair Corr
0.9	TWUIX	Ultra Fund I	Pair Corr

Moving against American Mutual Fund

0.67	TWACX	Short Term Government	Pair Corr
0.66	TWAVX	Short Term Government	Pair Corr
0.6	CDBCX	Diversified Bond	Pair Corr
0.6	TWARX	Short Term Government	Pair Corr
0.64	TWUSX	Short Term Government	Pair Corr
0.63	TWUOX	Short Term Government	Pair Corr
0.57	ANTUX	Nt Non Intrinsic	Pair Corr
0.57	ANVLX	American Century Non	Pair Corr
0.56	ANTGX	Nt Non Intrinsic	Pair Corr
0.56	ANVRX	American Century Non	Pair Corr
0.56	ANVMX	American Century Non	Pair Corr

Related Correlations Analysis

	PGFCX	OIDAX	SRDAX	PQCNX	MDBLX	DIFIX
PGFCX		0.85	-0.11	0.68	0.7	0.82	PGFCX
OIDAX	0.85		-0.21	0.65	0.66	0.79	OIDAX
SRDAX	-0.11	-0.21		-0.42	-0.4	-0.33	SRDAX
PQCNX	0.68	0.65	-0.42		0.99	0.95	PQCNX
MDBLX	0.7	0.66	-0.4	0.99		0.95	MDBLX
DIFIX	0.82	0.79	-0.33	0.95	0.95		DIFIX
	PGFCX	OIDAX	SRDAX	PQCNX	MDBLX	DIFIX

Click cells to compare fundamentals

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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

MDBLX	+ 0.99	PQCNX
DIFIX	+ 0.95	PQCNX
DIFIX	+ 0.95	MDBLX
OIDAX	+ 0.85	PGFCX
DIFIX	+ 0.82	PGFCX
DIFIX	+ 0.79	OIDAX

High negative correlations

PQCNX	- 0.42	SRDAX
MDBLX	- 0.4	SRDAX
DIFIX	- 0.33	SRDAX
SRDAX	- 0.21	OIDAX
SRDAX	- 0.11	PGFCX

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
PGFCX	0.29	(0.01)	0.06	0.08	0.39	(0.35)	0.67	(0.48)	1.75
OIDAX	0.71	(0.02)	0.00	(0.09)	0.00	0.00	1.42	(1.46)	5.03
SRDAX	0.16	0.00	0.15	(0.11)	0.16	(0.20)	0.29	(0.37)	0.76
PQCNX	0.25	0.01	0.13	0.29	0.25	(0.30)	0.59	(0.47)	1.43
MDBLX	0.23	0.02	0.18	0.28	0.18	(0.30)	0.50	(0.38)	1.38
DIFIX	0.28	0.01	0.10	0.03	0.35	(0.33)	0.58	(0.57)	1.51

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