American Century Correlations

Mutual Funds . USA . 
Fund . American Century Etf
AVCNX Fund  USD 16.98  0.22  1.31%   
The current 90-days correlation between American Century Etf and Transamerica High Yield is 0.53 (i.e., Very 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

Good diversification

The correlation between American Century Etf and DJI is -0.16 (i.e., Good 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

  0.95AVANX Avantis InternationalPairCorr
  0.74AVBNX American Century EtfPairCorr
  0.94AVDEX Avantis InternationalPairCorr
  0.96AVEEX Avantis Emerging MarketsPairCorr
  0.95AVDVX Avantis InternationalPairCorr
  0.94AVDNX Avantis InternationalPairCorr
  0.96AVENX Avantis Emerging MarketsPairCorr
  0.66AVGNX Avantis Short TermPairCorr
  0.72AVIGX American Century EtfPairCorr
  0.99AVLVX American Century EtfPairCorr
  0.97AVSBX Avantis Small CapPairCorr
  0.62AVSFX Avantis Short TermPairCorr
  0.98AVUVX Avantis Small CapPairCorr
  0.99AVUSX Avantis EquityPairCorr
  0.99AVUNX Avantis EquityPairCorr
  0.97ALCEX Avantis Large CapPairCorr
  0.97VSIIX Vanguard Small CapPairCorr
  0.97VISVX Vanguard Small CapPairCorr
  0.97DFSVX Us Small CapPairCorr
  0.97DFFVX Us Targeted ValuePairCorr
  0.95UBVCX Undiscovered ManagersPairCorr
  0.99UBVAX Undiscovered ManagersPairCorr
  0.99UBVSX Undiscovered ManagersPairCorr
  0.97AVFIX American Beacon SmallPairCorr
  0.73NHS Neuberger Berman HighPairCorr
  0.64PNJRX Putnam New JerseyPairCorr
  0.97NWASX Nationwide DestinationPairCorr
  0.68NREEX Neuberger Berman RealPairCorr
  0.96GGCCX Gabelli GrowthPairCorr
  0.9PRIKX T Rowe PricePairCorr
  0.84MLXIX Catalyst Mlp InfrastPairCorr
  0.97ROGSX Red Oak TechnologyPairCorr
  0.97JTRBX Jpmorgan SmartretirementPairCorr
  0.96URFRX Target Retirement 2040PairCorr
  0.95MSEGX Growth Portfolio Class Steady GrowthPairCorr
  0.92RPSIX Spectrum IncomePairCorr
  0.98MIGFX Massachusetts InvestorsPairCorr

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.

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