American Century Correlations

Mutual Funds . USA . 
Fund . American Century Ultra
AULNX Fund  USD 109.02  0.55  0.51%   
The current 90-days correlation between American Century Ultra and Amg River Road is 0.17 (i.e., Average 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 Ultra and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Century Ultra 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 Ultra. 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 board of governors.

Moving together with American Mutual Fund

  0.86TWADX Value Fund APairCorr
  0.99TWCAX Select Fund APairCorr
  0.78TWBIX Balanced Fund InvestorPairCorr
  0.79AMVGX Mid Cap ValuePairCorr
  0.81TWEAX Equity IncomePairCorr
  0.94TWHIX Heritage Fund InvestorPairCorr
  0.74TWSCX Strategic Allocation:PairCorr
  0.9TWSAX Strategic Allocation:PairCorr
  0.86TWSMX Strategic Allocation:PairCorr
  0.99TWSIX Select Fund IPairCorr
  0.85TWVLX Value Fund InvestorPairCorr
  1.0TWUAX Ultra Fund APairCorr
  1.0TWUIX Ultra Fund IPairCorr
  0.69NPHIX High Income FundPairCorr
  0.9ANOIX Small Cap GrowthPairCorr
  0.92AAEVX American Century OnePairCorr
  0.99ASERX Select Fund RPairCorr
  0.85ASIUX Multi Asset RealPairCorr
  0.86ASQIX Small Pany FundPairCorr
  0.87ASVIX Small Cap ValuePairCorr
  0.87ASVYX Small Cap ValuePairCorr
  0.98ACFOX Focused Dynamic GrowthPairCorr
  0.73ACHFX American Century HighPairCorr
  0.79ACMVX Mid Cap ValuePairCorr
  0.99ACSLX Select Fund CPairCorr
  1.0ADGGX Disciplined GrowthPairCorr
  1.0ADSIX Disciplined GrowthPairCorr
  0.89AVLIX Value Fund IPairCorr

Moving against American Mutual Fund

  0.71TWACX Short Term GovernmentPairCorr
  0.52TWIEX International GrowthPairCorr
  0.52TGRIX International GrowthPairCorr
  0.31TWTIX Intermediate Term TaxPairCorr
  0.8ABTIX Government BondPairCorr
  0.77ACDOX American Century DivPairCorr
  0.76ACCKX Core Plus FundPairCorr
  0.44AFCSX Focused InternationalPairCorr

Related Correlations Analysis

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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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