Capital Income Correlations

Mutual Funds . USA . 
Fund . Capital Income Builder
RIRFX Fund  USD 77.04  0.21  0.27%   
The current 90-days correlation between Capital Income Builder and Income Fund Of is -0.22 (i.e., Very good 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

Poor diversification

The correlation between Capital Income Builder and DJI is 0.79 (i.e., 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 census.

Moving together with Capital Mutual Fund

  0.99AMECX Income FundPairCorr
  0.98RNEBX New World FundPairCorr
  0.98AMFCX American MutualPairCorr
  0.98AMFFX American MutualPairCorr
  1.0RNCCX American Funds IncomePairCorr
  0.76FPPPX American Funds PresePairCorr
  0.99AMEFX Income FundPairCorr
  0.98RNGGX New Economy FundPairCorr
  0.99RNGFX New Economy FundPairCorr
  0.98RNGHX New Economy FundPairCorr
  0.98RNGBX New Economy FundPairCorr
  0.98RNGAX New Economy FundPairCorr
  0.99RNGEX New Economy FundPairCorr
  0.98RNGCX New Economy FundPairCorr
  0.75AMHIX American High IncomePairCorr
  0.67TEAFX Tax Exempt BondPairCorr
  0.99FPTPX American Funds ConsePairCorr
  0.99RNNEX 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
  0.98RNPCX New PerspectivePairCorr
  0.99RNPFX New PerspectivePairCorr
  0.99RNPEX New PerspectivePairCorr
  0.98AMRMX American MutualPairCorr
  0.99AMRFX American MutualPairCorr
  1.0RNRPX American Funds RetirementPairCorr
  0.97TEPCX American Funds TaxPairCorr
  0.98TEPAX American Funds TaxPairCorr
  0.98TEPFX American Funds TaxPairCorr
  0.99RNWFX New World FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMECX  0.32  0.13 (0.03)(1.75) 0.10 
(0.35)
 0.91 
(0.56)
 2.22 
RNEBX  0.46  0.24  0.17 (9.60) 0.00 
(0.54)
 1.87 
(0.87)
 3.41 
AMFCX  0.51  0.16  0.03 (2.50) 0.47 
(0.60)
 1.52 
(0.83)
 3.61 
AMFFX  0.51  0.17  0.03 (2.59) 0.46 
(0.61)
 1.52 
(0.84)
 3.62 
RNCCX  0.27  0.06 (0.06) 0.31  0.00 
(0.33)
 0.85 
(0.50)
 1.83 
FPPPX  0.13  0.01 (0.60)(0.41) 0.07 
(0.14)
 0.21 
(0.32)
 0.64 
AMEFX  0.32  0.14 (0.01)(1.86) 0.00 
(0.37)
 0.88 
(0.53)
 2.24 
RNGGX  0.69  0.31  0.17 (3.80) 0.47 
(0.79)
 2.23 
(1.36)
 5.17 
RNGFX  0.69  0.17  0.17  0.32  0.49 
(0.78)
 2.24 
(1.36)
 5.16 
RNGHX  0.68  0.31  0.17 (3.87) 0.47 
(0.77)
 2.25 
(1.35)
 5.17 

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