Capital Group Correlations

CGGO Etf

USD 32.10 0.19 0.60%

The current 90-days correlation between Capital Group Global and Strategy Shares is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Capital Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Capital Group Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Capital Group Correlation With Market

Almost no diversification

The correlation between Capital Group Global and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group Global and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Capital Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Capital Group Global. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Capital Etf

0.93	TMFG	Motley Fool Global	Pair Corr
0.96	ERTH	Invesco MSCI Sustainable	Pair Corr
0.99	GSFP	Goldman Sachs Future	Pair Corr
1.0	GBUY	Goldman Sachs Future	Pair Corr
0.97	FDRV	Fidelity Covington Trust	Pair Corr
0.99	BUYZ	Franklin Disruptive	Pair Corr
0.82	MSTY	YieldMax MSTR Option	Pair Corr
0.69	JNUG	Direxion Daily Junior	Pair Corr
0.98	DFEN	Direxion Daily Aerospace	Pair Corr
0.96	XB	BondBloxx ETF Trust	Pair Corr
0.92	DHSB	Strategy Shares	Pair Corr
0.97	PHB	Invesco Fundamental High	Pair Corr
0.9	BTFD	Valkyrie Bitcoin Strategy	Pair Corr
0.89	COLO	Global X Funds Symbol Change	Pair Corr
0.97	EMPB	Efficient Market Por	Pair Corr

Moving against Capital Etf

0.85	WTID	UBS ETRACS Downward Rally	Pair Corr
0.76	ARKC	ARK 21Shares Active Low Volatility	Pair Corr
0.48	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DINT	MCHI	DIVS	DIVY	DIVZ	PY	VT
DHSB		0.93	0.94	0.88	0.96	0.84	0.91	0.91	0.92	DHSB
MBOX	0.93		0.87	0.94	0.92	0.88	0.88	0.99	0.83	MBOX
DINT	0.94	0.87		0.86	0.95	0.89	0.95	0.85	0.99	DINT
MCHI	0.88	0.94	0.86		0.9	0.86	0.83	0.92	0.81	MCHI
DIVS	0.96	0.92	0.95	0.9		0.83	0.93	0.9	0.93	DIVS
DIVY	0.84	0.88	0.89	0.86	0.83		0.93	0.89	0.88	DIVY
DIVZ	0.91	0.88	0.95	0.83	0.93	0.93		0.87	0.96	DIVZ
PY	0.91	0.99	0.85	0.92	0.9	0.89	0.87		0.82	PY
VT	0.92	0.83	0.99	0.81	0.93	0.88	0.96	0.82		VT
	DHSB	MBOX	DINT	MCHI	DIVS	DIVY	DIVZ	PY	VT

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Capital Group Constituents Risk-Adjusted Indicators

There is a big difference between Capital Etf performing well and Capital Group ETF 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 Group'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DHSB	0.53	0.04	(0.06)	(0.34)	0.95	(0.52)	1.18	(1.88)	6.57
MBOX	0.92	0.05	(0.04)	(0.56)	1.61	(0.85)	1.74	(2.03)	10.00
DINT	1.09	0.07	0.03	0.18	1.67	(1.06)	2.64	(2.16)	8.82
MCHI	1.27	0.02	(0.05)	(0.21)	2.02	(1.41)	3.39	(2.21)	8.62
DIVS	0.78	0.09	(0.02)	(0.98)	1.18	(0.85)	1.79	(1.24)	6.99
DIVY	1.19	(0.04)	(0.02)	0.07	1.85	(1.17)	2.12	(3.08)	10.58
DIVZ	0.76	0.02	(0.02)	0.13	1.23	(0.78)	1.48	(1.19)	6.54
PY	1.04	0.05	(0.03)	(0.93)	1.83	(1.03)	1.87	(2.08)	12.39
VT	0.90	0.07	0.04	0.18	1.48	(0.88)	2.07	(1.55)	11.33

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