American Century Correlations

Mutual Funds USA . 
Fund . American Century Growth
ACIHX Fund  USD 64.44  0.38  0.59%   
The current 90-days correlation between American Century Growth and Select Fund A is 0.06 (i.e., Significant 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 Growth and DJI is 0.8 (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 Growth 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 Growth. 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

  0.98TWSMX Strategic Allocation:PairCorr
  1.0ASERX Select Fund RPairCorr
  1.0ACSLX Select Fund CPairCorr
  1.0FAFGX American FundsPairCorr
  1.0FFAFX American FundsPairCorr
  1.0GFACX Growth FundPairCorr
  0.98GFAFX Growth FundPairCorr
  0.98AGTHX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  0.98CGFCX Growth FundPairCorr
  1.0CGFAX Growth FundPairCorr
  0.98CGFEX Growth FundPairCorr
  1.0RGAEX Growth FundPairCorr
  0.89FSMMX Fs Multi StrategyPairCorr
  0.95BTMPX Ishares Msci EafePairCorr
  0.95BTMKX Blackrock InternationalPairCorr
  0.96MDIIX Blackrock Intern IndexPairCorr
  0.65SPMPX Invesco Steelpath MlpPairCorr
  0.65MLPNX Oppenheimer Steelpath MlpPairCorr
  0.63MLPMX Oppenheimer Steelpath MlpPairCorr
  0.64SPMJX Invesco Steelpath MlpPairCorr
  0.96TEQAX Touchstone SustainabilityPairCorr
  0.97SIVIX State Street InstituPairCorr
  0.95IAF Aberdeen AustraliaPairCorr
  0.97BAC Bank of America Aggressive PushPairCorr
  0.83PFE Pfizer IncPairCorr
  0.76INTC Intel Earnings Call TomorrowPairCorr
  0.91MMM 3M Company Sell-off TrendPairCorr
  0.96JPM JPMorgan ChasePairCorr
  0.96DIS Walt DisneyPairCorr
  0.95BA Boeing Earnings Call This WeekPairCorr
  0.95AXP American ExpressPairCorr
  0.91IBM International Business Earnings Call TodayPairCorr

Moving against American Mutual Fund

  0.65MCD McDonaldsPairCorr

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
TWCAX  0.84  0.30  0.11 (2.79) 0.74 
(0.99)
 2.56 
(1.36)
 6.01 
AMDVX  0.70  0.13 (0.06)(0.83) 0.76 
(0.74)
 1.96 
(1.39)
 4.36 
AMEIX  0.63  0.13  0.14  0.31  0.28 
(0.72)
 2.06 
(0.80)
 5.23 
AMGIX  0.61  0.17 (0.03)(0.97) 0.57 
(0.71)
 1.64 
(1.20)
 4.39 
CDBCX  0.27  0.02 (0.42) 2.02  0.25 
(0.31)
 0.45 
(0.44)
 1.23 
AMKIX  0.54  0.26  0.14  18.21  0.00 
(0.65)
 1.73 
(1.07)
 4.10 
TWACX  0.09  0.00 (1.15) 0.01  0.00 
(0.16)
 0.22 
(0.22)
 0.56 
TWADX  0.64  0.15 (0.05)(0.84) 0.63 
(0.74)
 1.63 
(1.08)
 3.73 
TWCCX  0.81  0.14  0.15  0.31  0.52 
(0.93)
 2.46 
(1.28)
 6.00 
TWCIX  0.84  0.30  0.11 (2.78) 0.74 
(0.96)
 2.56 
(1.36)
 6.01 

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