Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Bond
RCWCX Fund  USD 16.34  0.03  0.18%   
The current 90-days correlation between Capital World Bond and Strategic Advisers Income is 0.23 (i.e., Modest 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

Very good diversification

The correlation between Capital World Bond and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital World Bond and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Capital World Bond. 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

  0.79AMECX Income FundPairCorr
  0.77RNEBX New World FundPairCorr
  0.76AMFCX American MutualPairCorr
  0.76AMFFX American MutualPairCorr
  0.82RNCCX American Funds IncomePairCorr
  0.88FPPPX American Funds PresePairCorr
  0.81AMEFX Income FundPairCorr
  0.77RNGGX New Economy FundPairCorr
  0.77RNGFX New Economy FundPairCorr
  0.77RNGHX New Economy FundPairCorr
  0.77RNGBX New Economy FundPairCorr
  0.77RNGAX New Economy FundPairCorr
  0.75RNGEX New Economy FundPairCorr
  0.77RNGCX New Economy FundPairCorr
  0.81FPTPX American Funds ConsePairCorr
  0.65TEFEX Tax Exempt FundPairCorr
  0.77RNNEX New Economy FundPairCorr
  0.77CDJAX American Funds CollegePairCorr
  0.72AMPCX Amcap Fund ClassPairCorr
  0.72AMPFX Amcap Fund ClassPairCorr
  0.74RNPBX New PerspectivePairCorr
  0.74RNPAX New PerspectivePairCorr
  0.75RNPHX New PerspectivePairCorr
  0.74RNPGX New PerspectivePairCorr
  0.74RNPCX New PerspectivePairCorr
  0.75RNPFX New PerspectivePairCorr
  0.74RNPEX New PerspectivePairCorr
  0.75AMRMX American MutualPairCorr
  0.76AMRFX American MutualPairCorr
  0.82RNRPX American Funds RetirementPairCorr
  0.61AMUSX Us Government SecuritiesPairCorr
  0.76TEPCX American Funds TaxPairCorr
  0.77TEPAX American Funds TaxPairCorr
  0.77TEPFX American Funds TaxPairCorr
  0.77RNWFX 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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