Capital Group Correlations

CGBL Etf

31.72 0.20 0.63%

The current 90-days correlation between Capital Group Core and First Trust Multi Asset is 0.58 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Capital Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Capital Group Core moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Capital Group Correlation With Market

Weak diversification

The correlation between Capital Group Core and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group Core 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 Core. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Capital Etf

0.88	AOR	iShares Core Growth	Pair Corr
0.92	GDMA	Alpha Architect Gdsdn	Pair Corr
0.7	TUG	STF Tactical Growth	Pair Corr
0.94	OCIO	ClearShares OCIO ETF	Pair Corr
0.81	MFUL	Collaborative Investment	Pair Corr
0.76	RULE	Collaborative Investment	Pair Corr
0.65	PMBS	PIMCO Mortgage Backed	Pair Corr
0.76	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.61	T	ATT Inc Earnings Call This Week	Pair Corr
0.72	MSFT	Microsoft	Pair Corr

Moving against Capital Etf

0.39

PFE

Pfizer Inc Fiscal Year End 4th of February 2025

Pair Corr

Related Correlations Analysis

	MDIV	MFUL	MPAY	MPRO	DWAT	MRSK	MSMR	MVFD	MVFG
MDIV		0.88	0.34	0.66	0.82	0.42	0.52	0.9	0.81	MDIV
MFUL	0.88		0.59	0.53	0.85	0.73	0.73	0.92	0.77	MFUL
MPAY	0.34	0.59		0.01	0.51	0.81	0.84	0.36	0.26	MPAY
MPRO	0.66	0.53	0.01		0.62	-0.07	-0.07	0.58	0.89	MPRO
DWAT	0.82	0.85	0.51	0.62		0.54	0.56	0.88	0.85	DWAT
MRSK	0.42	0.73	0.81	-0.07	0.54		0.92	0.58	0.26	MRSK
MSMR	0.52	0.73	0.84	-0.07	0.56	0.92		0.56	0.23	MSMR
MVFD	0.9	0.92	0.36	0.58	0.88	0.58	0.56		0.82	MVFD
MVFG	0.81	0.77	0.26	0.89	0.85	0.26	0.23	0.82		MVFG
	MDIV	MFUL	MPAY	MPRO	DWAT	MRSK	MSMR	MVFD	MVFG

Click cells to compare fundamentals

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MVFD	+ 0.92	MFUL
MSMR	+ 0.92	MRSK
MVFD	+ 0.9	MDIV
MVFG	+ 0.89	MPRO
MFUL	+ 0.88	MDIV
MVFD	+ 0.88	DWAT

High negative correlations

MSMR	- 0.07	MPRO
MRSK	- 0.07	MPRO

Capital Group Constituents Risk-Adjusted Indicators

There is a big difference between Capital Etf performing well and Capital Group ETF 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
MDIV	0.38	0.00	(0.04)	0.00	0.51	(0.40)	0.74	(0.74)	2.83
MFUL	0.17	0.00	(0.09)	(0.03)	0.20	(0.22)	0.32	(0.33)	1.34
MPAY	0.57	0.02	0.01	0.08	0.74	(0.62)	1.12	(1.19)	3.85
MPRO	0.37	(0.07)	0.00	(0.26)	0.00	0.00	0.72	(0.85)	2.39
DWAT	0.63	0.00	(0.01)	0.03	0.84	(0.66)	1.22	(1.29)	6.38
MRSK	0.47	0.02	0.00	0.11	0.58	(0.48)	0.91	(1.01)	3.85
MSMR	0.50	0.04	0.03	0.17	0.66	(0.53)	1.04	(0.79)	5.59
MVFD	0.66	(0.01)	(0.03)	(0.02)	0.88	(0.72)	1.19	(1.24)	7.34
MVFG	0.56	(0.05)	0.00	(0.11)	0.00	0.00	1.14	(1.28)	4.44

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