Commonwealth Global Correlations

Mutual Funds . USA . 
Fund . Commonwealth Global Fund
CNGLX Fund  USD 20.36  0.04  0.20%   
The current 90-days correlation between Commonwealth Global and Commonwealth Australianew Zealand is 0.3 (i.e., Weak diversification). The correlation of Commonwealth Global 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.

Commonwealth Global Correlation With Market

Very poor diversification

The correlation between Commonwealth Global Fund and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Commonwealth Global Fund 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 Commonwealth Global Fund. 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 bureau of economic analysis.

Moving together with Commonwealth Mutual Fund

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  0.98CWGIX Capital World GrowthPairCorr
  0.98CWGFX Capital World GrowthPairCorr
  0.98CWGCX Capital World GrowthPairCorr
  0.98RWIFX Capital World GrowthPairCorr
  0.98CWICX Capital World GrowthPairCorr
  0.98RWIAX Capital World GrowthPairCorr
  0.98CWIAX Capital World GrowthPairCorr
  0.98WGIFX Capital World GrowthPairCorr
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  0.82EMO Clearbridge Energy MlpPairCorr
  0.71SPMPX Invesco Steelpath MlpPairCorr
  0.71MLPNX Oppenheimer Steelpath MlpPairCorr
  0.94RSNYX Victory Global NaturalPairCorr
  0.7MLPLX Oppenheimer Steelpath MlpPairCorr
  0.94RSNRX Victory Global NaturalPairCorr
  0.7SPMJX Invesco Steelpath MlpPairCorr
  0.71OSPPX Oppenheimer Steelpath MlpPairCorr
  0.86XWDIX Western Asset DiversifiedPairCorr
  0.95WAYRX Western Asset HighPairCorr
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  0.98SIVIX State Street InstituPairCorr
  0.99PSILX Spectrum InternationalPairCorr
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  0.97EVFCX Evaluator ConservativePairCorr
  0.98PLFIX Largecap Sp 500PairCorr
  0.96VMNVX Vanguard Global MinimumPairCorr
  0.98TEQAX Touchstone SustainabilityPairCorr
  0.62OCMAX Ocm Mutual FundPairCorr
  0.81TFSLX Touchstone FlexiblePairCorr
  0.97PCGQX Prudential Income BuilderPairCorr
  0.98GGIZX Balanced AllocationPairCorr
  0.97VPACX Vanguard Pacific StockPairCorr
  0.98VMCIX Vanguard Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Commonwealth Mutual Fund performing well and Commonwealth Global 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 Commonwealth Global'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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