Capital Income Correlations

Mutual Funds . USA . 
Fund . Capital Income Builder
CIRCX Fund  USD 77.03  0.17  0.22%   
The current 90-days correlation between Capital Income Builder and M Large Cap is 0.74 (i.e., Poor diversification). The correlation of Capital Income 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 Income Correlation With Market

Poor diversification

The correlation between Capital Income Builder and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Income Builder 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 Income Builder. 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 main economic indicators.

Moving together with Capital Mutual Fund

  1.0AMECX Income FundPairCorr
  0.99RNEBX New World FundPairCorr
  0.88AMFCX American MutualPairCorr
  0.88AMFFX American MutualPairCorr
  0.82RNCCX American Funds IncomePairCorr
  1.0AMEFX Income FundPairCorr
  0.97RNGGX New Economy FundPairCorr
  0.97RNGFX New Economy FundPairCorr
  0.97RNGHX New Economy FundPairCorr
  0.97RNGBX New Economy FundPairCorr
  0.85RNGAX New Economy FundPairCorr
  0.97RNGEX New Economy FundPairCorr
  0.75RNGCX New Economy FundPairCorr
  0.72TEAFX Tax Exempt BondPairCorr
  0.99FPTPX American Funds ConsePairCorr
  0.99CDJAX American Funds CollegePairCorr
  0.99RNPBX New PerspectivePairCorr
  0.99RNPAX New PerspectivePairCorr
  0.99RNPGX New PerspectivePairCorr
  0.99RNPFX New PerspectivePairCorr
  0.99RNPEX New PerspectivePairCorr
  0.98AMRMX American MutualPairCorr
  0.85AMRFX American MutualPairCorr
  0.78TEPFX American Funds TaxPairCorr
  0.99RNWFX New World FundPairCorr
  0.99RNWGX New World FundPairCorr
  0.99CDWAX American Funds DevelopingPairCorr
  0.97ANEFX New Economy FundPairCorr
  0.97ANFFX New Economy FundPairCorr
  0.85NPFCX New PerspectivePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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