American Century Correlations

ANVRX Fund  USD 9.15  0.01  0.11%   
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 0.56 (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

  0.87CDBCX Diversified BondPairCorr
  0.76AMKIX Emerging MarketsPairCorr
  0.88TWACX Short Term GovernmentPairCorr
  0.65TWADX Value Fund APairCorr
  0.87TWARX Short Term GovernmentPairCorr
  0.88TWAVX Short Term GovernmentPairCorr
  0.75TWEAX Equity IncomePairCorr
  0.76TWEIX Equity IncomePairCorr
  0.75TWGAX International GrowthPairCorr
  0.76TWIEX International GrowthPairCorr
  0.76TWMIX Emerging MarketsPairCorr
  0.65TWTIX Intermediate Term TaxPairCorr
  0.87TWUSX Short Term GovernmentPairCorr
  0.66TWVLX Value Fund InvestorPairCorr
  0.87TWUOX Short Term GovernmentPairCorr
  0.64TWWOX Intermediate Term TaxPairCorr
  0.73NPHIX High Income FundPairCorr

Moving against American Mutual Fund

  0.71TWCCX Ultra Fund CPairCorr
  0.68TWCAX Select Fund APairCorr
  0.68TWCIX Select Fund InvestorPairCorr
  0.67TWCGX Growth Fund InvestorPairCorr
  0.58AMEIX Equity GrowthPairCorr
  0.53TWBIX Balanced Fund InvestorPairCorr
  0.34AMGIX Income GrowthPairCorr
  0.74TWCUX Ultra Fund InvestorPairCorr
  0.68TWSIX Select Fund IPairCorr
  0.67TWGIX Growth Fund IPairCorr
  0.66TWRCX Growth Fund CPairCorr
  0.42TWHIX Heritage Fund InvestorPairCorr
  0.71TWUAX Ultra Fund APairCorr
  0.71TWUIX Ultra Fund IPairCorr
  0.58ANORX Small Cap GrowthPairCorr
  0.58ANOCX Small Cap GrowthPairCorr
  0.57ANONX Small Cap GrowthPairCorr
  0.57ANOGX Small Cap GrowthPairCorr

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   
SBFAXFAFSX
ICFAXFAFSX
SBFAXICFAX
XFINXSBFAX
XFINXFAFSX
IAAEXFAFSX
  
High negative correlations   
XFINXFTIXX
SBFAXFTIXX
IAAEXFTIXX
ICFAXFTIXX
FAFSXFTIXX

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.