Capital Group Correlations
| CCSTX Fund | USD 9.98 0.02 0.20% |
The current 90-days correlation between Capital Group California and Capital Group Equity is 0.18 (i.e., Average 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
Good diversification
The correlation between Capital Group California and DJI is -0.13 (i.e., Good 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.
Capital |
Moving together with Capital Mutual Fund
| 0.81 | CCCMX | Capital Group California | PairCorr |
| 0.82 | ANIYX | New York Municipal | PairCorr |
| 0.82 | SNNYX | New York Municipal | PairCorr |
| 0.75 | LTBYX | Opnhmr Rchstr | PairCorr |
| 0.72 | IORMX | Aim Taxexempt Funds | PairCorr |
| 0.72 | LTNCX | Oppenheimer Rochester | PairCorr |
| 0.78 | LTNYX | Opnhmr Rchstr | PairCorr |
| 0.82 | ANMCX | New York Municipal | PairCorr |
| 0.82 | ANIAX | New York Municipal | PairCorr |
| 0.77 | SNCAX | California Municipal | PairCorr |
| 0.77 | AICYX | California Municipal | PairCorr |
Related Correlations Analysis
| 0.05 | 0.05 | 0.05 | 0.39 | 0.22 | CUSEX | ||
| 0.05 | 0.96 | 1.0 | 0.52 | 0.29 | EMGEX | ||
| 0.05 | 0.96 | 0.96 | 0.57 | 0.33 | EMRGX | ||
| 0.05 | 1.0 | 0.96 | 0.52 | 0.29 | REFGX | ||
| 0.39 | 0.52 | 0.57 | 0.52 | 0.81 | CCCMX | ||
| 0.22 | 0.29 | 0.33 | 0.29 | 0.81 | 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 | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CUSEX | 0.70 | (0.07) | 0.00 | (0.13) | 0.00 | 1.05 | 9.50 | |||
| EMGEX | 0.61 | (0.10) | 0.00 | (0.38) | 0.00 | 1.25 | 4.30 | |||
| EMRGX | 0.62 | (0.10) | 0.00 | (1.24) | 0.00 | 1.25 | 4.28 | |||
| REFGX | 0.61 | (0.10) | 0.00 | (0.40) | 0.00 | 1.22 | 4.26 | |||
| CCCMX | 0.11 | (0.03) | 0.00 | (2.04) | 0.00 | 0.20 | 1.08 | |||
| CCSTX | 0.07 | (0.02) | 0.00 | 0.94 | 0.00 | 0.10 | 0.70 |