American Beacon Correlations

Mutual Funds . USA . 
Fund . American Beacon Shapiro
SHXPX Fund  USD 15.17  0.15  1.00%   
The current 90-days correlation between American Beacon Shapiro and American Beacon Shapiro is 1.0 (i.e., No risk reduction). The correlation of American Beacon 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 Beacon Correlation With Market

Poor diversification

The correlation between American Beacon Shapiro and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Beacon Shapiro and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in American Beacon Shapiro. 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 american community survey.

Moving together with American Mutual Fund

  0.96VMVAX Vanguard Mid CapPairCorr
  0.98JVMAX John Hancock DisciplinedPairCorr
  0.98JVMIX John Hancock DisciplinedPairCorr
  0.96VMVIX Vanguard Mid CapPairCorr
  0.92JMVZX Jpmorgan Mid CapPairCorr
  0.93JMVRX Jpmorgan Mid CapPairCorr
  0.93JMVQX Jpmorgan Mid CapPairCorr
  0.93JMVYX Jpmorgan Mid CapPairCorr
  0.93JMVPX Jpmorgan Mid CapPairCorr
  0.92VETAX Victory Sycamore EstPairCorr
  0.98SMPSX Semiconductor UltrasectorPairCorr
  0.64SMPIX Semiconductor UltrasectorPairCorr
  0.96TREMX T Rowe PricePairCorr
  0.97ONERX One Rock FundPairCorr
  0.96TTEEX T Rowe PricePairCorr
  0.99FIKGX Fidelity Advisor SemPairCorr
  0.99FELIX Fidelity Advisor SemPairCorr
  0.99FSELX Fidelity Select SemiPairCorr
  0.99FELAX Fidelity Advisor SemPairCorr
  0.99FELTX Fidelity Advisor SemPairCorr
  0.62JPM JPMorgan ChasePairCorr
  0.67IBM International BusinessPairCorr
  0.67CVX Chevron CorpPairCorr
  0.64CAT CaterpillarPairCorr

Moving against American Mutual Fund

  0.63MCD McDonaldsPairCorr
  0.42TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between American Mutual Fund performing well and American Beacon 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 Beacon'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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