Capital Income Correlations

Mutual Funds . USA . 
Fund . Capital Income Builder
RIREX Fund  USD 76.84  0.32  0.41%   
The current 90-days correlation between Capital Income Builder and Gmo High Yield is 0.78 (i.e., Poor diversification). The correlation of Capital Income 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 Income Correlation With Market

Very poor diversification

The correlation between Capital Income Builder and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Income Builder 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 Income Builder. 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 income.

Moving together with Capital Mutual Fund

  1.0AMECX Income FundPairCorr
  0.99RNEBX New World FundPairCorr
  0.99AMFCX American MutualPairCorr
  0.99AMFFX American MutualPairCorr
  1.0RNCCX American Funds IncomePairCorr
  0.75FPPPX American Funds PresePairCorr
  1.0AMEFX Income FundPairCorr
  0.98RNGGX New Economy FundPairCorr
  0.98RNGFX New Economy FundPairCorr
  0.98RNGHX New Economy FundPairCorr
  0.98RNGBX New Economy FundPairCorr
  0.98RNGAX New Economy FundPairCorr
  0.98RNGEX New Economy FundPairCorr
  0.98RNGCX New Economy FundPairCorr
  0.72AMHIX American High IncomePairCorr
  0.62TEBCX Tax Exempt BondPairCorr
  0.72TEAFX Tax Exempt BondPairCorr
  1.0FPTPX American Funds ConsePairCorr
  0.64TEFEX Tax Exempt FundPairCorr
  0.98RNNEX New Economy FundPairCorr
  0.99CDJAX 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
  0.99AMRFX American MutualPairCorr
  1.0RNRPX American Funds RetirementPairCorr
  0.92TEPCX American Funds TaxPairCorr
  0.93TEPAX American Funds TaxPairCorr
  0.93TEPFX 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 Income 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 Income'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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