Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Bond
CCWFX Fund  USD 16.28  0.06  0.37%   
The current 90-days correlation between Capital World Bond and Wells Fargo Diversified is -0.3 (i.e., Very good diversification). The correlation of Capital World 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.

Capital World Correlation With Market

Very good diversification

The correlation between Capital World Bond and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital World Bond and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Capital World Bond. 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 census.

Moving together with Capital Mutual Fund

  0.8AMECX Income FundPairCorr
  0.78RNEBX New World FundPairCorr
  0.77AMFCX American MutualPairCorr
  0.77AMFFX American MutualPairCorr
  0.83RNCCX American Funds IncomePairCorr
  0.93FPPPX American Funds PresePairCorr
  0.82AMEFX Income FundPairCorr
  0.77RNGGX New Economy FundPairCorr
  0.77RNGFX New Economy FundPairCorr
  0.77RNGHX New Economy FundPairCorr
  0.77RNGBX New Economy FundPairCorr
  0.77RNGAX New Economy FundPairCorr
  0.77RNGEX New Economy FundPairCorr
  0.77RNGCX New Economy FundPairCorr
  0.62AMHIX American High IncomePairCorr
  0.69TEAFX Tax Exempt BondPairCorr
  0.83FPTPX American Funds ConsePairCorr
  0.77RNNEX New Economy FundPairCorr
  0.78CDJAX American Funds CollegePairCorr
  0.74AMPCX Amcap Fund ClassPairCorr
  0.75AMPFX Amcap Fund ClassPairCorr
  0.76RNPBX New PerspectivePairCorr
  0.76RNPAX New PerspectivePairCorr
  0.76RNPHX New PerspectivePairCorr
  0.76RNPGX New PerspectivePairCorr
  0.76RNPCX New PerspectivePairCorr
  0.76RNPFX New PerspectivePairCorr
  0.76RNPEX New PerspectivePairCorr
  0.76AMRMX American MutualPairCorr
  0.77AMRFX American MutualPairCorr
  0.84RNRPX American Funds RetirementPairCorr
  0.68AMUSX Us Government SecuritiesPairCorr
  0.82TEPCX American Funds TaxPairCorr
  0.82TEPAX American Funds TaxPairCorr
  0.82TEPFX American Funds TaxPairCorr
  0.78RNWFX New World FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Capital Mutual Fund performing well and Capital World 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 Capital World'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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