Capital Group Correlations

CCCMX Fund

USD 10.21 0.00 0.00%

The current 90-days correlation between Capital Group California and Capital Group Equity is -0.08 (i.e., Good diversification). The correlation of Capital Group 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 Group Correlation With Market

Significant diversification

The correlation between Capital Group California and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group California and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Capital Group California. 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 population.

Moving together with Capital Mutual Fund

0.81	CCSTX	Capital Group California	Pair Corr
0.88	VCAIX	Vanguard California	Pair Corr
0.9	VCADX	Vanguard California	Pair Corr
0.87	MKCMX	Blackrock California	Pair Corr
0.82	MACMX	Brf Clf Mpl	Pair Corr
0.82	MDCMX	Brf Clf Mplop	Pair Corr
0.83	MECMX	Brf Clf Mpl	Pair Corr
0.86	MFCMX	Brf Clf Mpl	Pair Corr
0.97	BCIAX	California Intermediate	Pair Corr
0.98	BCIYX	California Intermediate	Pair Corr
0.96	BCITX	California Intermediate	Pair Corr

Moving against Capital Mutual Fund

0.6	MUSDX	Us Real Estate	Pair Corr
0.46	SMPIX	Semiconductor Ultrasector	Pair Corr
0.41	SMPSX	Semiconductor Ultrasector	Pair Corr
0.43	ENGRX	Vest Large Cap	Pair Corr
0.38	ECBLX	Eaton Vance Floating	Pair Corr

Related Correlations Analysis

	CUSEX	EMGEX	EMRGX	REFGX	CCSTX
CUSEX		0.05	0.05	0.05	0.22	CUSEX
EMGEX	0.05		0.96	1.0	0.29	EMGEX
EMRGX	0.05	0.96		0.96	0.33	EMRGX
REFGX	0.05	1.0	0.96		0.29	REFGX
CCSTX	0.22	0.29	0.33	0.29		CCSTX
	CUSEX	EMGEX	EMRGX	REFGX	CCSTX

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Risk-Adjusted Indicators

There is a big difference between Capital Mutual Fund performing well and Capital Group 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 Group'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 Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CUSEX	0.70	(0.07)	(0.13)	1.05	(1.37)	9.50
EMGEX	0.61	(0.10)	(0.38)	1.25	(1.55)	4.30
EMRGX	0.62	(0.10)	(1.24)	1.25	(1.54)	4.28
REFGX	0.61	(0.10)	(0.40)	1.22	(1.40)	4.26
CCSTX	0.07	(0.02)	0.94	0.10	(0.20)	0.70

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