Capital Group Correlations

CGIB Etf

25.08 0.01 0.04%

The current 90-days correlation between Capital Group Fixed and MFS Active Core is 0.35 (i.e., Weak diversification). The correlation of Capital Group 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.

Capital Group Correlation With Market

Good diversification

The correlation between Capital Group Fixed and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group Fixed 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 Fixed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving against Capital Etf

0.62	COIW	COIN WeeklyPay ETF Low Volatility	Pair Corr
0.52	USD	ProShares Ultra Semi	Pair Corr
0.48	VIOO	Vanguard SP Small	Pair Corr
0.47	DUSL	Direxion Daily Indus	Pair Corr
0.47	SPXL	Direxion Daily SP500	Pair Corr
0.47	IBMQ	iShares Trust	Pair Corr
0.47	FTXR	First Trust Nasdaq	Pair Corr
0.46	DFEN	Direxion Daily Aerospace	Pair Corr
0.46	BPI	Grayscale Funds Trust	Pair Corr
0.44	ESIX	SPDR SP SmallCap	Pair Corr
0.43	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.42	IEDI	iShares Evolved Disc	Pair Corr
0.42	FTSL	First Trust Senior	Pair Corr
0.39	BGRN	iShares USD Green	Pair Corr
0.39	FNGO	MicroSectors FANG Index	Pair Corr
0.38	DIG	ProShares Ultra Oil	Pair Corr
0.38	ITEQ	Amplify ETF Trust	Pair Corr
0.37	PIE	Invesco DWA Emerging	Pair Corr
0.36	FLRG	Fidelity Covington Trust	Pair Corr
0.35	ONLN	ProShares Online Retail	Pair Corr
0.32	UPV	ProShares Ultra FTSE	Pair Corr
0.54	HDV	iShares Core High	Pair Corr
0.5	MGV	Vanguard Mega Cap	Pair Corr
0.48	NVDY	Tidal Trust II	Pair Corr
0.47	MINT	PIMCO Enhanced Short	Pair Corr
0.47	MEAR	iShares Short Maturity	Pair Corr
0.47	XAR	SPDR SP Aerospace	Pair Corr
0.47	USOI	Credit Suisse X	Pair Corr
0.45	CVY	Invesco Zacks Multi	Pair Corr
0.45	DDEC	First Trust Exchange	Pair Corr
0.44	AVMV	American Century ETF	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.56	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.55	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.5	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.72	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.22	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.67	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.11	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.64	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.55	MRK
XOM	0.56	0.55	0.5	0.72	0.22	0.67	-0.11	0.64	0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together 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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.11	CRM

Capital Group Competition 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
META	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.13	0.05	(0.04)	0.41	1.36	(1.15)	2.40	(2.58)	5.84

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