American Century Correlations

Mutual Funds . USA . 
Fund . American Century Etf
AVBNX Fund  USD 8.34  0.01  0.12%   
The current 90-days correlation between American Century Etf and Avantis International Small is 0.31 (i.e., Weak 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

Modest diversification

The correlation between American Century Etf and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Century Etf 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 Etf. 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 board of governors.

Moving together with American Mutual Fund

  0.8AVANX Avantis InternationalPairCorr
  0.78AVDEX Avantis InternationalPairCorr
  0.73AVCNX American Century EtfPairCorr
  0.78AVEEX Avantis Emerging MarketsPairCorr
  0.8AVDVX Avantis InternationalPairCorr
  0.78AVDNX Avantis InternationalPairCorr
  0.78AVENX Avantis Emerging MarketsPairCorr
  1.0AVIGX American Century EtfPairCorr
  0.75AVLVX American Century EtfPairCorr
  0.73AVUVX Avantis Small CapPairCorr
  0.76AVUSX Avantis EquityPairCorr
  0.76AVUNX Avantis EquityPairCorr
  0.75ALCEX Avantis Large CapPairCorr
  0.87VBTLX Vanguard Total BondPairCorr
  0.97VBMFX Vanguard Total BondPairCorr
  0.97VBTIX Vanguard Total BondPairCorr
  0.97VTBSX Vanguard Total BondPairCorr
  0.96VTBIX Vanguard Total BondPairCorr
  0.96VTBNX Vanguard Total BondPairCorr
  0.98FBOFX American FundsPairCorr
  0.98FFBOX American FundsPairCorr
  0.97BFAFX Bond FundPairCorr
  0.97ABNDX Bond FundPairCorr
  0.72NHS Neuberger Berman HighPairCorr
  0.78HADRX Horizon Defined RiskPairCorr
  0.79FWWFX Fidelity WorldwidePairCorr
  0.76HWMAX Hotchkis Wiley MidPairCorr
  0.71CGEZX Columbia Select GlobalPairCorr
  0.65CMNZX Columbia Minnesota TaxPairCorr
  0.77ESSCX Ashmore Emerging MarketsPairCorr
  0.77GEGTX Columbia Large CapPairCorr
  0.75VEMPX Vanguard Extended MarketPairCorr
  0.77QDARX Aqr Diversified ArbitragePairCorr
  0.77BRKBX Mfs Blended ResearchPairCorr
  0.67AVEAX Ave Maria FocusedPairCorr
  0.8CLM Cornerstone StrategicPairCorr

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
AVANX  0.50  0.23  0.19  1.36  0.00 
(0.61)
 1.11 
(0.88)
 2.67 
AVBNX  0.25  0.01 (0.32) 0.30  0.19 
(0.31)
 0.61 
(0.36)
 1.22 
AVDEX  0.47  0.16  0.10  0.63  0.18 
(0.53)
 1.22 
(0.99)
 2.61 
AVCNX  0.94  0.13  0.13  0.26  0.77 
(1.15)
 2.49 
(1.52)
 6.37 
AVEEX  0.50  0.23  0.19  0.63  0.00 
(0.63)
 1.66 
(0.98)
 3.93 
AVDVX  0.49  0.23  0.20  1.38  0.00 
(0.62)
 1.11 
(0.88)
 2.75 
AVDNX  0.48  0.16  0.09  0.62  0.26 
(0.54)
 1.22 
(1.05)
 2.75 
AVENX  0.50  0.23  0.21  0.63  0.00 
(0.63)
 1.75 
(1.02)
 3.92 
AVGNX  0.02  0.00  0.00  0.65  0.00 
 0.00 
 0.10 
 0.00 
 0.42 
AVIGX  0.26  0.02 (0.30) 0.46  0.22 
(0.31)
 0.49 
(0.48)
 1.22 

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