American Century Correlations

TAXF Etf

USD 49.19 0.43 0.87%

The current 90-days correlation between American Century Div and IQ MacKay Municipal is 0.11 (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.

American Century Correlation With Market

Good diversification

The correlation between American Century Diversified and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Century Diversified and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in American Century Diversified. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with American Etf

0.84	MUB	iShares National Muni Sell-off Trend	Pair Corr
0.86	VTEB	Vanguard Tax Exempt	Pair Corr
0.84	FMB	First Trust Managed	Pair Corr
0.87	ITM	VanEck Intermediate Muni	Pair Corr
0.79	MMIT	IQ MacKay Municipal	Pair Corr
0.83	HMOP	Hartford Municipal	Pair Corr
0.8	JMUB	JPMorgan Municipal	Pair Corr
0.85	MUST	Columbia Multi Sector	Pair Corr
0.82	MINO	PIMCO ETF Trust	Pair Corr
0.67	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.68	PG	Procter Gamble	Pair Corr

Moving against American Etf

0.53	AA	Alcoa Corp	Pair Corr
0.45	MRK	Merck Company	Pair Corr
0.41	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	MMIT	HMOP	RVNU	MUST	MMIN
MMIT		0.97	0.5	0.83	0.92	MMIT
HMOP	0.97		0.59	0.87	0.94	HMOP
RVNU	0.5	0.59		0.76	0.74	RVNU
MUST	0.83	0.87	0.76		0.91	MUST
MMIN	0.92	0.94	0.74	0.91		MMIN
	MMIT	HMOP	RVNU	MUST	MMIN

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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
MMIT	0.17	(0.01)	0.00	(0.25)	0.00	0.00	0.33	(0.37)	0.75
HMOP	0.17	(0.01)	(0.03)	(0.45)	0.22	(0.17)	0.31	(0.39)	0.94
RVNU	0.32	(0.05)	0.00	(46.03)	0.00	0.00	0.48	(0.85)	1.65
MUST	0.27	(0.02)	0.00	(0.31)	0.00	0.00	0.54	(0.55)	1.54
MMIN	0.25	(0.03)	0.00	(0.58)	0.00	0.00	0.46	(0.63)	1.22

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