Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Bond
CCWCX Fund  USD 15.96  0.08  0.50%   
The current 90-days correlation between Capital World Bond and Templeton Global Bond is 0.87 (i.e., Very poor 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 Bond and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital World Bond 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 World Bond. 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 main economic indicators.

Moving together with Capital Mutual Fund

  0.94FPPPX American Funds PresePairCorr
  0.65TEBCX Tax Exempt BondPairCorr
  0.7TECCX Tax Exempt FundPairCorr
  0.64TECFX Tax Exempt FundPairCorr
  0.61TEFEX Tax Exempt FundPairCorr
  0.98AMUSX Us Government SecuritiesPairCorr
  0.69TEPCX American Funds TaxPairCorr

Moving against Capital Mutual Fund

  0.66RNGGX New Economy FundPairCorr
  0.66RNGFX New Economy FundPairCorr
  0.66RNGHX New Economy FundPairCorr
  0.66RNGEX New Economy FundPairCorr
  0.66RNNEX New Economy FundPairCorr
  0.66AMPFX Amcap Fund ClassPairCorr
  0.65RNGBX New Economy FundPairCorr
  0.65RNGAX New Economy FundPairCorr
  0.65AMPCX Amcap Fund ClassPairCorr
  0.54AMFFX American MutualPairCorr
  0.52AMFCX American MutualPairCorr
  0.5CDJAX American Funds CollegePairCorr
  0.46AMECX Income FundPairCorr
  0.46AMEFX Income FundPairCorr
  0.39RNPGX New PerspectivePairCorr
  0.38RNPHX New PerspectivePairCorr
  0.37RNPCX New PerspectivePairCorr
  0.35RNPBX New PerspectivePairCorr
  0.35RNPAX New PerspectivePairCorr
  0.69ANCFX American Funds FundaPairCorr
  0.66ANEFX New Economy FundPairCorr
  0.66ANFFX New Economy FundPairCorr
  0.65ANFCX New Economy FundPairCorr
  0.55AMRFX American MutualPairCorr
  0.54AMRMX American MutualPairCorr
  0.38RNPFX New PerspectivePairCorr
  0.38RNPEX New PerspectivePairCorr
  0.38NPFFX New PerspectivePairCorr
  0.35NPFCX New PerspectivePairCorr

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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