American Century Correlations

AVNM Etf

57.45 0.23 0.40%

The current 90-days correlation between American Century ETF and First Trust Multi Asset is 0.58 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as American Century moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if American Century ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

American Century Correlation With Market

Very weak diversification

The correlation between American Century ETF and DJI is 0.46 (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 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 etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with American Etf

0.98	VEA	Vanguard FTSE Developed	Pair Corr
0.98	IEFA	iShares Core MSCI Sell-off Trend	Pair Corr
1.0	VEU	Vanguard FTSE All Sell-off Trend	Pair Corr
0.97	EFA	iShares MSCI EAFE	Pair Corr
1.0	IXUS	iShares Core MSCI Sell-off Trend	Pair Corr
0.95	SPDW	SPDR SP World	Pair Corr
0.98	IDEV	iShares Core MSCI	Pair Corr
0.98	ESGD	iShares ESG Aware	Pair Corr
0.97	JIRE	JP Morgan Exchange	Pair Corr
1.0	DFAX	Dimensional World	Pair Corr
0.61	VTI	Vanguard Total Stock	Pair Corr
0.68	SPY	SPDR SP 500	Pair Corr
0.68	IVV	iShares Core SP	Pair Corr
0.76	BND	Vanguard Total Bond	Pair Corr
0.71	VTV	Vanguard Value Index	Pair Corr
0.83	DBEF	Xtrackers MSCI EAFE	Pair Corr
0.75	AIQ	Global X Artificial	Pair Corr
0.89	CQQQ	Invesco China Technology	Pair Corr
0.69	RXI	iShares Global Consumer	Pair Corr
0.88	T	ATT Inc Aggressive Push	Pair Corr
0.84	IBM	International Business Sell-off Trend	Pair Corr
0.68	JPM	JPMorgan Chase	Pair Corr
0.81	JNJ	Johnson Johnson	Pair Corr
0.63	MMM	3M Company	Pair Corr
0.77	MCD	McDonalds	Pair Corr
0.64	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.74	GE	GE Aerospace	Pair Corr
0.8	KO	Coca Cola	Pair Corr
0.64	DD	Dupont De Nemours	Pair Corr

Moving against American Etf

0.71	MRK	Merck Company Aggressive Push	Pair Corr
0.37	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	MDIV	MFUL	DUKQ	MPAY	MPRO	DWAT	MRSK	MSMR	EAOA
MDIV		0.75	0.52	0.43	0.81	0.74	0.33	0.51	0.63	MDIV
MFUL	0.75		0.88	0.42	0.95	0.79	0.76	0.56	0.84	MFUL
DUKQ	0.52	0.88		0.55	0.76	0.78	0.86	0.72	0.82	DUKQ
MPAY	0.43	0.42	0.55		0.36	0.73	0.56	0.78	0.69	MPAY
MPRO	0.81	0.95	0.76	0.36		0.79	0.67	0.47	0.81	MPRO
DWAT	0.74	0.79	0.78	0.73	0.79		0.76	0.64	0.94	DWAT
MRSK	0.33	0.76	0.86	0.56	0.67	0.76		0.52	0.88	MRSK
MSMR	0.51	0.56	0.72	0.78	0.47	0.64	0.52		0.59	MSMR
EAOA	0.63	0.84	0.82	0.69	0.81	0.94	0.88	0.59		EAOA
	MDIV	MFUL	DUKQ	MPAY	MPRO	DWAT	MRSK	MSMR	EAOA

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American Century Constituents Risk-Adjusted Indicators

There is a big difference between American Etf performing well and American Century ETF 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
MDIV	0.39	0.01	0.06	0.02	0.49	(0.45)	0.76	(0.69)	2.64
MFUL	0.16	(0.01)	0.00	2.11	0.00	0.00	0.32	(0.28)	1.11
DUKQ	0.62	(0.05)	0.00	0.40	0.00	0.00	0.99	(1.37)	3.99
MPAY	0.64	0.01	0.03	0.01	0.91	(0.66)	1.13	(1.44)	4.67
MPRO	0.32	0.00	0.05	0.03	0.42	(0.36)	0.73	(0.49)	2.39
DWAT	0.58	(0.01)	0.02	0.08	0.82	(0.62)	1.18	(1.29)	3.81
MRSK	0.45	(0.02)	0.00	0.36	0.00	0.00	0.87	(1.01)	2.20
MSMR	0.48	(0.01)	0.00	(0.05)	0.00	0.00	1.04	(0.89)	3.68
EAOA	0.47	0.00	0.04	(0.03)	0.71	(0.44)	0.81	(1.07)	2.98

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