Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Growth
WGIFX Fund  USD 71.39  0.30  0.42%   
The current 90-days correlation between Capital World Growth and Multi Manager High Yield is 0.09 (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 Growth and DJI is -0.03 (i.e., Good 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 Current Watchlist 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 census.

Moving together with Capital Mutual Fund

  0.89AMECX Income FundPairCorr
  0.91RNEBX New World FundPairCorr
  0.63AMFCX American MutualPairCorr
  0.63AMFFX American MutualPairCorr
  0.99RNCCX American Funds IncomePairCorr
  0.7FPPPX American Funds PresePairCorr
  0.9AMEFX Income FundPairCorr
  0.9RNGGX New Economy FundPairCorr
  0.9RNGFX New Economy FundPairCorr
  1.0RNGHX New Economy FundPairCorr
  0.9RNGBX New Economy FundPairCorr
  0.9RNGAX New Economy FundPairCorr
  0.9RNGEX New Economy FundPairCorr
  0.75AMHIX American High IncomePairCorr
  0.71TEAFX Tax Exempt BondPairCorr
  0.9FPTPX American Funds ConsePairCorr
  0.62TEFEX Tax Exempt FundPairCorr
  0.9RNNEX New Economy FundPairCorr
  0.9CDJAX American Funds CollegePairCorr
  1.0AMPCX Amcap Fund ClassPairCorr
  0.9AMPFX Amcap Fund ClassPairCorr
  0.91RNPBX New PerspectivePairCorr
  0.99RNPAX New PerspectivePairCorr
  0.9RNPHX New PerspectivePairCorr
  0.91RNPGX New PerspectivePairCorr
  0.99RNPCX New PerspectivePairCorr
  1.0RNPFX New PerspectivePairCorr
  0.91RNPEX New PerspectivePairCorr
  0.89AMRMX American MutualPairCorr
  0.99AMRFX American MutualPairCorr
  0.9RNRPX American Funds RetirementPairCorr
  0.87TEPAX American Funds TaxPairCorr
  0.78TEPFX American Funds TaxPairCorr
  1.0RNWEX New World FundPairCorr
  0.91RNWHX New World FundPairCorr
  0.91RNWGX New World FundPairCorr
  1.0RNWBX 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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