American Century Correlations

Mutual Funds . USA . 
Fund . American Century One
AAEDX Fund  USD 11.96  0.01  0.08%   
The current 90-days correlation between American Century One and Mid Cap Value is -0.23 (i.e., Very good 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 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American 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 unemployment.

Moving together with American Mutual Fund

  0.74AMGIX Income GrowthPairCorr
  0.64CDBCX Diversified BondPairCorr
  0.61TWACX Short Term GovernmentPairCorr
  0.73TWCAX Select Fund APairCorr
  0.73TWCGX Growth Fund InvestorPairCorr
  0.74TWBIX Balanced Fund InvestorPairCorr
  0.74TWCUX Ultra Fund InvestorPairCorr
  0.74TWGGX Global GrowthPairCorr
  0.77TWIEX International GrowthPairCorr
  0.66TWHIX Heritage Fund InvestorPairCorr
  0.85TWTCX Intermediate Term TaxPairCorr
  0.88TWTIX Intermediate Term TaxPairCorr
  0.65TWSCX Strategic Allocation:PairCorr
  0.65TWSAX Strategic Allocation:PairCorr
  1.0TWSMX Strategic Allocation:PairCorr
  0.64TWSIX Select Fund IPairCorr
  0.7TWVLX Value Fund InvestorPairCorr
  0.65TWUAX Ultra Fund APairCorr
  0.65TWUIX Ultra Fund IPairCorr
  0.62NPHIX High Income FundPairCorr
  0.65ANOIX Small Cap GrowthPairCorr
  0.65ANOAX Small Cap GrowthPairCorr
  0.97ANTMX Nt International SmallPairCorr
  0.71TGRIX International GrowthPairCorr
  0.67APISX Short Duration InflationPairCorr
  0.72BCIAX California Intermediate-terPairCorr
  0.71BCIYX California Intermediate-terPairCorr
  0.76BCITX California Intermediate-terPairCorr
  0.65ARCRX One Choice 2030PairCorr
  0.65ARDRX One Choice 2040PairCorr
  0.64ARDOX One Choice 2045PairCorr

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  0.66  0.18  0.03 (0.86) 0.60 
(0.74)
 1.96 
(1.08)
 4.36 
AMEIX  0.62  0.33  0.28 (6.03) 0.00 
(0.75)
 2.06 
(0.76)
 5.23 
AMGIX  0.58  0.22  0.10 (1.45) 0.35 
(0.72)
 1.64 
(0.90)
 4.39 
CDBCX  0.26  0.00 (0.32) 0.17  0.26 
(0.30)
 0.45 
(0.44)
 1.23 
AMKIX  0.52  0.28  0.24 (6.34) 0.00 
(0.64)
 1.73 
(0.88)
 4.10 
TWACX  0.09  0.00 (0.88)(0.18) 0.00 
(0.16)
 0.22 
(0.22)
 0.56 
TWADX  0.59  0.14  0.00 (2.09) 0.54 
(0.70)
 1.45 
(1.01)
 3.73 
TWCCX  0.75  0.33  0.28  2.68  0.13 
(0.90)
 2.29 
(0.98)
 6.00 
TWCAX  0.78  0.39  0.36 (122.30) 0.00 
(1.00)
 2.56 
(0.91)
 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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