Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Growth
CWGIX Fund  USD 71.69  0.29  0.41%   
The current 90-days correlation between Capital World Growth and Small Pany Growth is -0.16 (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

Good diversification

The correlation between Capital World Growth and DJI is -0.09 (i.e., Good 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 gross domestic product.

Moving together with Capital Mutual Fund

  0.99AMECX Income FundPairCorr
  1.0RNEBX New World FundPairCorr
  0.99AMFCX American MutualPairCorr
  0.99AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.71FPPPX American Funds PresePairCorr
  0.99AMEFX Income FundPairCorr
  0.99RNGGX New Economy FundPairCorr
  0.98RNGFX New Economy FundPairCorr
  0.99RNGHX New Economy FundPairCorr
  0.98RNGBX New Economy FundPairCorr
  0.99RNGAX New Economy FundPairCorr
  0.98RNGEX New Economy FundPairCorr
  0.99RNGCX New Economy FundPairCorr
  0.81AMHIX American High IncomePairCorr
  0.61TEBCX Tax Exempt BondPairCorr
  0.71TEAFX Tax Exempt BondPairCorr
  0.99FPTPX American Funds ConsePairCorr
  0.98RNNEX New Economy FundPairCorr
  1.0CDJAX American Funds CollegePairCorr
  0.98AMPCX Amcap Fund ClassPairCorr
  0.98AMPFX Amcap Fund ClassPairCorr
  0.99RNPBX New PerspectivePairCorr
  0.99RNPAX New PerspectivePairCorr
  0.99RNPHX New PerspectivePairCorr
  0.99RNPGX New PerspectivePairCorr
  0.99RNPCX New PerspectivePairCorr
  0.99RNPFX New PerspectivePairCorr
  0.99RNPEX New PerspectivePairCorr
  0.99AMRMX American MutualPairCorr
  0.98AMRFX American MutualPairCorr
  0.98RNRPX American Funds RetirementPairCorr
  0.97TEPCX American Funds TaxPairCorr
  0.97TEPAX American Funds TaxPairCorr
  0.97TEPFX American Funds TaxPairCorr
  0.99RNWFX New World FundPairCorr

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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