We analyze the fluctuations in the X-ray flux of 20 AGN (mainly Seyfert 1 galaxies) monitored by RXTE and XMM-Newton with a sampling frequency ranging from hours to years, using structure function (SF) analysis. We derive SFs over four orders of magnitude in the time domain (0.03-300 days). Most objects show a characteristic time scale, where the SF flattens or changes slope. For 10 objects with published power-spectral density (PSD) the break time scales in the SF and PSD are similar and show a good correlation. We also find a significant correlation between the SF timescale and the mass of the central black hole, determined for most objects by reverberation mapping.