Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Bond
RCWGX Fund  USD 16.34  0.02  0.12%   
The current 90-days correlation between Capital World Bond and Tortoise Energy Infrastructure is 0.07 (i.e., Significant 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 Bond and DJI is -0.11 (i.e., 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 price.

Moving together with Capital Mutual Fund

  0.72AMECX Income FundPairCorr
  0.69RNEBX New World FundPairCorr
  0.7AMFCX American MutualPairCorr
  0.7AMFFX American MutualPairCorr
  0.76RNCCX American Funds IncomePairCorr
  0.96FPPPX American Funds PresePairCorr
  0.75AMEFX Income FundPairCorr
  0.71RNGGX New Economy FundPairCorr
  0.71RNGFX New Economy FundPairCorr
  0.71RNGHX New Economy FundPairCorr
  0.7RNGBX New Economy FundPairCorr
  0.7RNGAX New Economy FundPairCorr
  0.71RNGEX New Economy FundPairCorr
  0.7RNGCX New Economy FundPairCorr
  0.63AMHIX American High IncomePairCorr
  0.63TEAFX Tax Exempt BondPairCorr
  0.76FPTPX American Funds ConsePairCorr
  0.7RNNEX New Economy FundPairCorr
  0.7CDJAX American Funds CollegePairCorr
  0.67AMPCX Amcap Fund ClassPairCorr
  0.67AMPFX Amcap Fund ClassPairCorr
  0.66RNPBX New PerspectivePairCorr
  0.66RNPAX New PerspectivePairCorr
  0.66RNPHX New PerspectivePairCorr
  0.66RNPGX New PerspectivePairCorr
  0.66RNPCX New PerspectivePairCorr
  0.66RNPFX New PerspectivePairCorr
  0.66RNPEX New PerspectivePairCorr
  0.69AMRMX American MutualPairCorr
  0.7AMRFX American MutualPairCorr
  0.77RNRPX American Funds RetirementPairCorr
  0.82AMUSX Us Government SecuritiesPairCorr
  0.78TEPCX American Funds TaxPairCorr
  0.78TEPAX American Funds TaxPairCorr
  0.78TEPFX American Funds TaxPairCorr
  0.69RNWFX 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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