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Benchmark SP 500  1,650   0.91  Index Moved Down -0.06% ...


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Collecting data for ^GSPC and ABHYX ...

Asset Comparison and Correlation

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Investment horizon: 
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 S&P 500  vs   American Century HighYield Mun
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Daily Returns (%)
GSPC   ABHYX   
 
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Timeline
Assuming 30 trading days horizon, S&P 500 is expected to generate 6.44 times more return on investment than American. However, SP 500 is 6.44 times more volatile than American Century HighYield Muni Inv. It trades about 0.34 of its potential returns per unit of risk. American Century HighYield Muni Inv is currently generating about -0.11 per unit of risk. If you would invest  159,361  in S&P 500 on April 26, 2013 and sell it today you would earn a total of  5,599  from holding S&P 500 or generate 3.51% return on investment over 30 days.

Diversification

Very good diversification
Overlapping area represents amount of risk that can be diversified away by holding S&P 500 and American Century HighYield Mun in the same portfolio assuming nothing else is changed

Correlation Coefficient

-0.23
Parameters
Time Period1 Month [change]
DirectionNegative ^GSPC Moved Down vs ABHYX
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns
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Predicted Return Density
 
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Returns   
GSPC   ABHYX   

S&P 500

 
Profile
    
SP 500
Performance
18
Out Of
100
Over 30
Days
?
    

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American Century HighYield Muni Inv

Alpha
 
Profile
    
American
Performance
0
Out Of
100
Over 30
Days
?
Over the last 30 days American Century HighYield Muni Inv has generated negative risk-adjusted returns adding no value to investors with long positions.
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