American Century Correlations

The correlation of American Century is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as American Century moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if American Century One moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to American Century could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace American Century when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back American Century - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling American Century One to buy it.

Moving together with American Century

+0.89FFFDXFIDELITY FREEDOM 2020PairCorr
+0.88VTWNXVANGUARD TARGET RETIPairCorr
+0.87RDCTXAMERICAN FUNDS 2020PairCorr
+0.86RECTXAMERICAN FUNDS 2020PairCorr
+0.87RBCTXAMERICAN FUNDS 2020PairCorr
+0.86RRCTXAMERICAN FUNDS 2020PairCorr
+0.87AACTXAMERICAN FUNDS 2020PairCorr
+0.87CCCTXAMERICAN FUNDS 2020PairCorr
+0.87FAOTXAMERICAN FUNDS 2020PairCorr
+0.71BTMPXIShares MSCI EAFEPairCorr
+0.71MDIIXBlackRock Intern IndexPairCorr
+0.71BTMKXBlackRock InternationalPairCorr
+0.61SPMPXInvesco SteelPath MLPPairCorr
+0.87VWIAXVANGUARD WELLESLEY INCOMEPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
JPMT
JPMA
XOMMRK
MRKJPM
XOMJPM
AT
  
High negative correlations   
MRKUBER
XOMMSFT
MRKMSFT
CRMTWTR
XOMUBER

American Century Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between American Mutual Fund performing well and American Century Mutual Fund doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze American Century's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
TWTR 1.73  0.51  0.17 (2.71)  1.73  0.12 (1.84)  3.56 (2.97)  27.10 
MSFT 1.79 (0.14)  0.00 (0.01)  0.00 (0.0424)  0.00  3.92 (3.54)  11.64 
UBER 2.84 (0.08) (0.01)  0.04  3.25 (0.0084) (3.42)  8.60 (5.58)  19.67 
F 1.96 (0.22)  0.00 (0.05)  0.00 (0.06)  0.00  2.75 (5.14)  14.93 
T 1.27  0.08  0.04  0.21  1.18  0.0334 (1.46)  2.54 (2.11)  9.29 
A 1.72  0.19  0.12  0.24  1.64  0.1 (2.08)  3.98 (2.97)  11.04 
CRM 2.32 (0.22)  0.00 (0.06)  0.00 (0.06)  0.00  4.31 (4.48)  18.29 
JPM 1.51  0.18  0.12  0.26  1.30  0.1 (1.64)  4.20 (2.15)  7.57 
MRK 1.00  0.37  0.24  1.28  0.80  0.23 (1.20)  2.44 (1.43)  7.38 
XOM 1.58  0.15  0.07  0.26  1.77  0.07 (1.68)  3.65 (2.91)  9.75 

Be your own money manager

Our tools can tell you how much better you can do entering a position in American Century without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Invested in American Century One?

The danger of trading American Century One is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of American Century is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than American Century. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile American Century One is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please continue to Trending Equities. You can also try Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.

Complementary Tools for analysis

When running American Century One price analysis, check to measure American Century's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy American Century is operating at the current time. Most of American Century's value examination focuses on studying past and present price action to predict the probability of American Century's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move American Century's price. Additionally, you may evaluate how the addition of American Century to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between American Century's value and its price as these two are different measures arrived at by different means. Investors typically determine American Century value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, American Century's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.