American Beacon Correlations

Mutual Funds . USA . 
Fund . American Beacon Bridgeway
BWLYX Fund  USD 23.15  0.05  0.22%   
The current 90-days correlation between American Beacon Bridgeway and Transamerica Short Term Bond is -0.14 (i.e., Good diversification). The correlation of American Beacon 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 Beacon Correlation With Market

Very poor diversification

The correlation between American Beacon Bridgeway and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Beacon Bridgeway 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 Beacon Bridgeway. 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 manufacturing.

Moving together with American Mutual Fund

  0.77BRLGX American Beacon BridgewayPairCorr
  1.0BRLVX American Beacon BridgewayPairCorr
  0.69STMGX American Beacon StephensPairCorr
  0.61STSGX American Beacon StephensPairCorr
  0.63STSRX American Beacon StephensPairCorr
  0.96AADEX American Beacon LargePairCorr
  0.7SFMRX American Beacon StephensPairCorr
  0.97AAGPX American Beacon LargePairCorr
  0.7SFMIX American Beacon StephensPairCorr
  0.92BWLIX American Beacon BridgewayPairCorr
  0.66AASRX American Beacon SmallPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American Beacon 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 Beacon'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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