American Century Correlations

AVEE Etf

61.39 0.36 0.58%

The current 90-days correlation between American Century ETF and Dimensional ETF Trust is -0.18 (i.e., 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.

American Century Correlation With Market

Very weak diversification

The correlation between American Century ETF and DJI is 0.45 (i.e., Very weak 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.

Build AI portfolio with American Etf

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 etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with American Etf

0.66	VWO	Vanguard FTSE Emerging	Pair Corr
0.99	IEMG	iShares Core MSCI Aggressive Push	Pair Corr
0.98	EMC	Global X Funds	Pair Corr
0.99	EEM	iShares MSCI Emerging Aggressive Push	Pair Corr
0.96	SPEM	SPDR Portfolio Emerging	Pair Corr
0.98	FNDE	Schwab Fundamental	Pair Corr
0.99	ESGE	iShares ESG Aware	Pair Corr
0.88	SFGRX	Seafarer Overseas	Pair Corr
1.0	DGS	WisdomTree Emerging	Pair Corr
0.86	XSOE	WisdomTree Emerging	Pair Corr
0.77	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.98	USD	ProShares Ultra Semi	Pair Corr
0.98	TECL	Direxion Daily Technology	Pair Corr
0.98	ROM	ProShares Ultra Tech	Pair Corr
0.98	QLD	ProShares Ultra QQQ	Pair Corr
0.98	SMH	VanEck Semiconductor ETF	Pair Corr
0.98	SOXX	iShares Semiconductor ETF	Pair Corr
0.98	SPXL	Direxion Daily SP500	Pair Corr
0.98	UPRO	ProShares UltraPro SP500	Pair Corr
0.66	AXP	American Express	Pair Corr
0.66	GE	GE Aerospace Earnings Call Today	Pair Corr
0.69	MSFT	Microsoft Aggressive Push	Pair Corr
0.66	DIS	Walt Disney	Pair Corr
0.65	AA	Alcoa Corp	Pair Corr
0.69	CVX	Chevron Corp	Pair Corr
0.71	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.74	IBM	International Business Earnings Call Tomorrow	Pair Corr
0.73	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.81	0.54	0.92	0.25	0.93	0.23	0.54	META
MSFT	0.98		0.86	0.84	0.5	0.88	0.25	0.95	0.24	0.53	MSFT
UBER	0.84	0.86		0.9	0.4	0.8	0.52	0.88	0.21	0.48	UBER
F	0.81	0.84	0.9		0.39	0.84	0.24	0.91	0.43	0.7	F
T	0.54	0.5	0.4	0.39		0.51	0.15	0.49	0.27	0.21	T
A	0.92	0.88	0.8	0.84	0.51		0.16	0.89	0.33	0.66	A
CRM	0.25	0.25	0.52	0.24	0.15	0.16		0.19	-0.27	-0.14	CRM
JPM	0.93	0.95	0.88	0.91	0.49	0.89	0.19		0.3	0.6	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.33	-0.27	0.3		0.55	MRK
XOM	0.54	0.53	0.48	0.7	0.21	0.66	-0.14	0.6	0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MSFT	+ 0.98	META
JPM	+ 0.95	MSFT
JPM	+ 0.93	META
A	+ 0.92	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.27	CRM
XOM	- 0.14	CRM

American Century Competition Risk-Adjusted Indicators

There is a big difference between American Etf performing well and American Century ETF 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.50	0.30	0.24	0.36	1.02	(1.80)	3.99	(2.35)	10.48
MSFT	0.89	0.31	0.27	0.48	0.52	(1.06)	2.33	(1.08)	8.85
UBER	1.63	0.19	0.12	0.32	1.40	(2.06)	4.19	(2.54)	10.87
F	1.29	0.20	0.10	0.41	1.39	(1.42)	2.69	(2.33)	7.46
T	1.03	(0.05)	(0.09)	0.02	1.34	(1.08)	2.35	(2.35)	5.71
A	1.46	0.18	0.00	(0.42)	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.14)	(0.05)	0.04	1.71	(1.31)	2.95	(3.19)	9.31
JPM	0.90	0.35	0.18	(2.74)	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.38	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.13	0.06	(0.03)	0.46	1.38	(1.13)	2.40	(2.58)	6.28

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