Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Growth
RWIBX Fund  USD 70.59  0.08  0.11%   
The current 90-days correlation between Capital World Growth and Precious Metals And is 0.03 (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

Very poor diversification

The correlation between Capital World Growth and DJI is 0.86 (i.e., Very poor 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 Your Equity Center 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 bureau of labor statistics.

Moving together with Capital Mutual Fund

  0.76AMECX Income FundPairCorr
  1.0RNEBX New World FundPairCorr
  0.75AMFCX American MutualPairCorr
  0.75AMFFX American MutualPairCorr
  0.75RNCCX American Funds IncomePairCorr
  0.76AMEFX Income FundPairCorr
  1.0RNGGX New Economy FundPairCorr
  1.0RNGFX New Economy FundPairCorr
  0.75RNGHX New Economy FundPairCorr
  1.0RNGBX New Economy FundPairCorr
  1.0RNGAX New Economy FundPairCorr
  1.0RNGEX New Economy FundPairCorr
  1.0RNGCX New Economy FundPairCorr
  0.69AMHIX American High IncomePairCorr
  0.61TEBCX Tax Exempt BondPairCorr
  0.7TEAFX Tax Exempt BondPairCorr
  0.75FPTPX American Funds ConsePairCorr
  1.0RNNEX New Economy FundPairCorr
  1.0CDJAX American Funds CollegePairCorr
  1.0AMPCX Amcap Fund ClassPairCorr
  0.74AMPFX Amcap Fund ClassPairCorr
  1.0RNPBX New PerspectivePairCorr
  1.0RNPAX New PerspectivePairCorr
  1.0RNPHX New PerspectivePairCorr
  0.76RNPGX New PerspectivePairCorr
  1.0RNPCX New PerspectivePairCorr
  1.0RNPFX New PerspectivePairCorr
  1.0RNPEX New PerspectivePairCorr
  0.75AMRMX American MutualPairCorr
  1.0AMRFX American MutualPairCorr
  0.99RNRPX American Funds RetirementPairCorr
  0.97TEPCX American Funds TaxPairCorr
  0.97TEPAX American Funds TaxPairCorr
  0.75TEPFX American Funds TaxPairCorr
  1.0RNWFX 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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