American Century Correlations

ANVRX Fund  USD 8.65  0.04  0.46%   
The current 90-days correlation between American Century Non and Mid Cap Value is 0.25 (i.e., Modest 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

Very weak diversification

The correlation between American Century Non Us and DJI is 0.59 (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 Non Us 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 Non Us. 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 metropolitan statistical area.

Moving together with American Mutual Fund

  0.86AMDVX Mid Cap ValuePairCorr
  0.81AMGIX Income GrowthPairCorr
  0.83CDBCX Diversified BondPairCorr
  0.92TWADX Value Fund APairCorr
  0.89AMVYX Mid Cap ValuePairCorr
  0.88AMVRX Mid Cap ValuePairCorr
  0.69TWBIX Balanced Fund InvestorPairCorr
  0.89AMVGX Mid Cap ValuePairCorr
  0.92TWEAX Equity IncomePairCorr
  0.89TWEIX Equity IncomePairCorr
  0.61TWGAX International GrowthPairCorr
  0.61TWGIX Growth Fund IPairCorr
  0.91TWGGX Global GrowthPairCorr
  0.61TWIEX International GrowthPairCorr
  0.8TWHIX Heritage Fund InvestorPairCorr
  0.65TWRCX Growth Fund CPairCorr
  0.85TWTCX Intermediate Term TaxPairCorr
  0.82TWTIX Intermediate Term TaxPairCorr
  0.84TWSCX Strategic AllocationPairCorr
  0.85TWSAX Strategic AllocationPairCorr
  0.88TWSMX Strategic AllocationPairCorr
  0.89TWVLX Value Fund InvestorPairCorr
  0.83TWWOX Intermediate Term TaxPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
TWCAXTWCCX
TWADXAMDVX
TWADXAMGIX
AMGIXAMDVX
TWCIXTWCAX
TWCIXTWCCX
  
High negative correlations   
TWCCXTWACX
TWCAXTWACX
TWCIXTWACX
TWACXAMDVX
TWADXTWACX
TWACXAMGIX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMDVX  0.65 (0.12) 0.00  10.93  0.00 
 1.11 
 8.17 
AMEIX  0.64 (0.02) 0.00 (0.06) 0.00 
 1.19 
 3.95 
AMGIX  0.52 (0.04) 0.00 (0.08) 0.00 
 1.03 
 3.80 
CDBCX  0.25  0.03  0.15  0.27  0.19 
 0.66 
 1.55 
AMKIX  0.64  0.00  0.01 (0.05) 0.91 
 1.27 
 3.52 
TWACX  0.08  0.01  0.24  0.58  0.00 
 0.22 
 0.56 
TWADX  0.63 (0.08) 0.00 (0.10) 0.00 
 1.04 
 9.17 
TWCCX  1.00 (0.09) 0.00 (0.11) 0.00 
 1.69 
 6.74 
TWCAX  0.95 (0.04) 0.00 (0.07) 0.00 
 1.64 
 5.52 
TWCIX  0.92 (0.10) 0.00  0.29  0.00 
 1.57 
 5.33