American Century Correlations

Mutual Funds . USA . 
Fund . American Century One
AABJX Fund  USD 10.49  0.03  0.29%   
The current 90-days correlation between American Century One and Mid Cap Value is 0.86 (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 0.87 (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 inflation.

Moving together with American Mutual Fund

  0.96AMDVX Mid Cap ValuePairCorr
  0.99AMGIX Income GrowthPairCorr
  0.7CDBCX Diversified BondPairCorr
  0.66TWACX Short Term GovernmentPairCorr
  0.99TWCAX Select Fund APairCorr
  0.99TWCGX Growth Fund InvestorPairCorr
  0.68AMVRX Mid Cap ValuePairCorr
  1.0TWBIX Balanced Fund InvestorPairCorr
  0.63TWEAX Equity IncomePairCorr
  0.63TWEIX Equity IncomePairCorr
  0.99TWCUX Ultra Fund InvestorPairCorr
  0.99TWGGX Global GrowthPairCorr
  0.93TWIEX International GrowthPairCorr
  0.66TWHIX Heritage Fund InvestorPairCorr
  0.72TWRCX Growth Fund CPairCorr
  0.88TWTCX Intermediate Term TaxPairCorr
  0.91TWTIX Intermediate Term TaxPairCorr
  0.73TWSCX Strategic Allocation:PairCorr
  0.73TWSAX 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
  0.64NPHIX High Income FundPairCorr
  0.73ANOIX Small Cap GrowthPairCorr
  0.73ANOAX Small Cap GrowthPairCorr
  0.73ANOYX Small Cap GrowthPairCorr
  0.98ANTMX Nt International SmallPairCorr
  0.73AOCIX One Choice PortfolioPairCorr
  0.73AOGIX One Choice PortfolioPairCorr
  0.73AOMIX One Choice PortfolioPairCorr
  0.99AONIX One Choice PortfolioPairCorr
  0.73AORMX One Choice PortfolioPairCorr
  0.73AOVIX One Choice PortfolioPairCorr
  0.75TGRIX International GrowthPairCorr
  0.71APISX Short Duration InflationPairCorr
  0.62BTTRX Zero Pon 2025PairCorr

Related Correlations Analysis

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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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