American Century Correlations

Mutual Funds . USA . 
Fund . American Century One
AABHX Fund  USD 10.26  0.03  0.29%   
The current 90-days correlation between American Century One and Mid Cap Value is 0.84 (i.e., Very poor 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

Very poor diversification

The correlation between American Century One and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Century One 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 One. 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 rate.

Moving together with American Mutual Fund

  0.95AMDVX Mid Cap ValuePairCorr
  0.99AMEIX Equity GrowthPairCorr
  0.99AMGIX Income GrowthPairCorr
  0.73CDBCX Diversified BondPairCorr
  0.98AMKIX Emerging MarketsPairCorr
  0.69TWACX Short Term GovernmentPairCorr
  0.7TWADX Value Fund APairCorr
  0.65TWCCX Ultra Fund CPairCorr
  0.98TWCAX Select Fund APairCorr
  0.72TWCIX Select Fund InvestorPairCorr
  0.98TWCGX Growth Fund InvestorPairCorr
  0.68AMVYX Mid Cap ValuePairCorr
  0.68AMVRX Mid Cap ValuePairCorr
  0.99TWBIX Balanced Fund InvestorPairCorr
  0.68AMVGX Mid Cap ValuePairCorr
  0.64TWEAX Equity IncomePairCorr
  0.64TWEIX Equity IncomePairCorr
  0.98TWCUX Ultra Fund InvestorPairCorr
  0.74TWGAX International GrowthPairCorr
  0.64TWGIX Growth Fund IPairCorr
  0.98TWGGX Global GrowthPairCorr
  0.92TWIEX International GrowthPairCorr
  0.66TWHIX Heritage Fund InvestorPairCorr
  0.69TWMIX Emerging MarketsPairCorr
  0.72TWRCX Growth Fund CPairCorr
  0.88TWTCX Intermediate Term TaxPairCorr
  0.91TWTIX Intermediate Term TaxPairCorr
  0.74TWSCX Strategic Allocation:PairCorr
  0.74TWSAX Strategic Allocation:PairCorr
  1.0TWSMX Strategic Allocation:PairCorr
  0.72TWSIX Select Fund IPairCorr
  0.98TWVLX Value Fund InvestorPairCorr
  0.72TWUAX Ultra Fund APairCorr
  0.72TWUIX Ultra Fund IPairCorr
  0.76TWWOX Intermediate Term TaxPairCorr
  0.65NPHIX High Income FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMDVX  0.70  0.00 (0.02) 0.13  0.76 
(0.74)
 1.96 
(1.39)
 4.36 
AMEIX  0.67  0.12  0.12  0.25  0.56 
(0.74)
 2.06 
(1.41)
 5.23 
AMGIX  0.62  0.04  0.02  0.17  0.58 
(0.71)
 1.64 
(1.20)
 4.39 
CDBCX  0.26  0.00 (0.32) 0.17  0.26 
(0.30)
 0.45 
(0.44)
 1.23 
AMKIX  0.54  0.21  0.19  0.59  0.00 
(0.65)
 1.73 
(1.07)
 4.10 
TWACX  0.09  0.00 (0.88)(0.18) 0.00 
(0.16)
 0.22 
(0.22)
 0.56 
TWADX  0.61  0.18  0.04 (1.03) 0.51 
(0.73)
 1.63 
(1.01)
 3.73 
TWCCX  0.79  0.29  0.34  0.49  0.00 
(0.95)
 2.46 
(0.98)
 6.00 
TWCAX  0.85  0.14  0.14  0.26  0.73 
(1.00)
 2.56 
(1.36)
 6.01 
TWCIX  0.78  0.39  0.36 (156.94) 0.00 
(0.98)
 2.56 
(0.91)
 6.01 

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