Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Growth
CWGFX Fund  USD 65.04  0.06  0.09%   
The current 90-days correlation between Capital World Growth and Capital Income Builder is -0.03 (i.e., 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

Almost no diversification

The correlation between Capital World Growth and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital World Growth 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 Growth. 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

  0.83RNEBX New World FundPairCorr
  0.87AMFCX American MutualPairCorr
  0.87AMFFX American MutualPairCorr
  0.95RNCCX American Funds IncomePairCorr
  0.83FPTPX American Funds ConsePairCorr
  0.92PGGFX American Funds GlobalPairCorr
  0.92CWGCX Capital World GrowthPairCorr
  0.96GWPFX American Funds GrowthPairCorr
  0.95INPFX American Funds IncomePairCorr
  0.94RRPPX American Funds RetirementPairCorr
  0.99FCJTX American Funds 2055PairCorr
  0.98RRQPX American Funds RetirementPairCorr
  0.65RROPX American Funds RetirementPairCorr
  0.94RAFGX Amcap Fund ClassPairCorr
  0.96RSLAX Smallcap WorldPairCorr
  0.8REJTX American Funds 2015PairCorr
  0.94RERAX Europacific GrowthPairCorr
  0.97RWMAX Washington MutualPairCorr
  0.89RGAAX Growth FundPairCorr
  0.93RGACX Growth FundPairCorr
  0.9RICAX Investment Of AmericaPairCorr
  0.91BLPFX American Funds BalancedPairCorr

Moving against Capital Mutual Fund

  0.72FPPPX American Funds PresePairCorr
  0.68CGTAX Us Government SecuritiesPairCorr
  0.67RAAEX Short Term BondPairCorr
  0.64ANBAX American Funds StrategicPairCorr
  0.63AMUSX Us Government SecuritiesPairCorr
  0.61CGTCX Us Government SecuritiesPairCorr
  0.71PPVFX American Funds PresePairCorr
  0.7RBOFX Intermediate BondPairCorr
  0.68RGVEX Us Government SecuritiesPairCorr
  0.67RGVBX Us Government SecuritiesPairCorr
  0.67RGVJX Us Government SecuritiesPairCorr
  0.66USGFX Us Government SecuritiesPairCorr
  0.64RBOHX Intermediate BondPairCorr
  0.63RGVAX Us Government SecuritiesPairCorr
  0.63RGVCX Us Government SecuritiesPairCorr
  0.6RILGX American Funds InflationPairCorr

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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