American Century Correlations

AVCNX Fund

USD 16.02 0.43 2.76%

The current 90-days correlation between American Century Etf and Financial Industries Fund is -0.22 (i.e., Very 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

Good diversification

The correlation between American Century Etf and DJI is -0.04 (i.e., Good 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 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

0.9	AVLVX	American Century Etf	Pair Corr
0.76	AVSBX	Avantis Small Cap	Pair Corr
0.85	AVUSX	Avantis Equity	Pair Corr
0.84	AVUNX	Avantis Equity	Pair Corr
0.81	ALCEX	Avantis Large Cap	Pair Corr
0.98	VSIIX	Vanguard Small Cap	Pair Corr
0.98	VISVX	Vanguard Small Cap	Pair Corr
0.99	DFSVX	Us Small Cap	Pair Corr
0.99	DFFVX	Us Targeted Value	Pair Corr
0.96	UBVCX	Undiscovered Managers	Pair Corr
0.96	UBVAX	Undiscovered Managers	Pair Corr
0.88	UBVSX	Undiscovered Managers	Pair Corr
0.99	AVFIX	American Beacon Small	Pair Corr
0.69	RSNYX	Victory Global Natural	Pair Corr
0.74	SMPIX	Semiconductor Ultrasector	Pair Corr
0.66	RGNCX	Victory Global Natural	Pair Corr
0.72	SMPSX	Semiconductor Ultrasector	Pair Corr
0.65	RSNRX	Victory Global Natural	Pair Corr

Moving against American Mutual Fund

0.81	AVGNX	Avantis Short Term	Pair Corr
0.81	AVSFX	Avantis Short Term	Pair Corr
0.77	AVBNX	American Century Etf	Pair Corr
0.77	AVIGX	American Century Etf	Pair Corr
0.69	AVDNX	Avantis International	Pair Corr
0.68	AVDEX	Avantis International	Pair Corr
0.66	AVANX	Avantis International	Pair Corr
0.66	AVDVX	Avantis International	Pair Corr
0.5	AVENX	Avantis Emerging Markets	Pair Corr
0.48	AVEEX	Avantis Emerging Markets	Pair Corr
0.77	PUBRX	Pimco Unconstrained Bond	Pair Corr
0.76	FAUDX	Strategic Advisers Short	Pair Corr
0.75	DGQUX	Americafirst Defensive	Pair Corr
0.72	PEGBX	Pimco Esg Income	Pair Corr
0.72	PDINX	Putnam Diversified Income	Pair Corr
0.67	DIPSX	Dfa Inflation Protected	Pair Corr
0.66	DFISX	International Small Pany	Pair Corr

Related Correlations Analysis

	FIDAX	IVMXX	SWGXX	SPAXX	MODXX	SBFAX	FAFSX
FIDAX		0.0	0.12	-0.12	0.0	0.76	0.94	FIDAX
IVMXX	0.0		0.0	0.0	0.0	0.0	0.0	IVMXX
SWGXX	0.12	0.0		0.28	0.0	0.13	0.1	SWGXX
SPAXX	-0.12	0.0	0.28		0.0	0.29	-0.02	SPAXX
MODXX	0.0	0.0	0.0	0.0		0.0	0.0	MODXX
SBFAX	0.76	0.0	0.13	0.29	0.0		0.91	SBFAX
FAFSX	0.94	0.0	0.1	-0.02	0.0	0.91		FAFSX
	FIDAX	IVMXX	SWGXX	SPAXX	MODXX	SBFAX	FAFSX

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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

FAFSX	+ 0.94	FIDAX
FAFSX	+ 0.91	SBFAX
SBFAX	+ 0.76	FIDAX
SBFAX	+ 0.29	SPAXX
SPAXX	+ 0.28	SWGXX
SBFAX	+ 0.13	SWGXX

High negative correlations

SPAXX	- 0.12	FIDAX
FAFSX	- 0.02	SPAXX
FAFSX	- 0.0	MODXX
SBFAX	- 0.0	MODXX
MODXX	- 0.0	SPAXX
MODXX	- 0.0	SWGXX

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FIDAX	1.01	(0.12)	(0.15)	2.02	(3.26)	7.13
IVMXX	0.00	0.00	0.00	0.00	0.00	0.00
SWGXX	0.03	0.01	(0.17)	0.00	0.00	1.01
SPAXX	0.03	0.00	(0.38)	0.00	0.00	1.01
MODXX	0.00	0.00	0.00	0.00	0.00	0.00
SBFAX	0.79	0.01	(0.02)	1.69	(1.92)	5.22
FAFSX	0.91	(0.04)	(0.07)	1.71	(2.71)	6.26

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