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Correlation Between American Funds and American Century

Analyzing existing cross correlation between American Funds EuroPacific Grow and American Century International. You can compare the effects of market volatilities on American Funds and American Century and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in American Funds with a short position of American Century. Check out your portfolio center. Please also check ongoing floating volatility patterns of American Funds and American Century.

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Diversification Opportunities for American Funds and American Century

American Funds EuroPacific Gro diversification synergy
0.77
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Poor diversification

The 3 months correlation between American and American is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding American Funds EuroPacific Gro and American Century International in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on American Century Int and American Funds is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on American Funds EuroPacific Grow are associated (or correlated) with American Century. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Century Int has no effect on the direction of American Funds i.e. American Funds and American Century go up and down completely randomly.

Pair Corralation between American Funds and American Century

Assuming 30 trading days horizon, American Funds EuroPacific Grow is expected to generate 2.78 times more return on investment than American Century. However, American Funds is 2.78 times more volatile than American Century International. It trades about 0.03 of its potential returns per unit of risk. American Century International is currently generating about -0.09 per unit of risk. If you would invest  5,532  in American Funds EuroPacific Grow on March 3, 2020 and sell it today you would lose (312.00)  from holding American Funds EuroPacific Grow or give up 5.64% of portfolio value over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthSignificant
Accuracy96.88%
ValuesDaily Returns

American Funds EuroPacific Gro  vs.  American Century International

 Performance (%) 
    
  Timeline 
American Funds EuroP 
22

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in American Funds EuroPacific Grow are ranked lower than 2 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly weak basic indicators, American Funds showed solid returns over the last few months and may actually be approaching a breakup point.
American Century Int 
00

Risk-Adjusted Fund Performance

Over the last 30 days American Century International has generated negative risk-adjusted returns adding no value to fund investors. Inspite weak performance in the last few months, the Fund's basic indicators remain fairly strong which may send shares a bit higher in May 2020. The current disturbance may also be a sign of long term up-swing for the fund investors.

American Funds and American Century Volatility Contrast

 Predicted Return Density 
    
  Returns 
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