Capital Group Correlations

CGCB Etf

26.17 0.06 0.23%

The current 90-days correlation between Capital Group Fixed and Valued Advisers Trust is -0.1 (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.

Capital Group Correlation With Market

Weak diversification

The correlation between Capital Group Fixed and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group Fixed 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 Fixed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Capital Etf

0.95	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.95	AGG	iShares Core Aggregate Sell-off Trend	Pair Corr
0.95	BIV	Vanguard Intermediate Sell-off Trend	Pair Corr
0.95	SPAB	SPDR Portfolio Aggregate Sell-off Trend	Pair Corr
0.95	EAGG	iShares ESG Aggregate	Pair Corr
0.95	FLCB	Franklin Templeton ETF	Pair Corr
0.95	UITB	VictoryShares USAA Core	Pair Corr
0.95	DFCF	Dimensional ETF Trust	Pair Corr
0.89	JAGG	JPMorgan BetaBuilders	Pair Corr
0.94	AGGY	WisdomTree Yield Enhanced	Pair Corr
0.8	BABX	GraniteShares 175x Long	Pair Corr
0.82	XPP	ProShares Ultra FTSE	Pair Corr
0.81	IDOG	ALPS International Sector	Pair Corr
0.67	GLD	SPDR Gold Shares	Pair Corr
0.86	INTF	iShares Edge MSCI	Pair Corr
0.84	EURL	Direxion Daily FTSE	Pair Corr
0.82	JCHI	JP Morgan Exchange	Pair Corr
0.82	TRV	The Travelers Companies	Pair Corr
0.91	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.8	KO	Coca Cola	Pair Corr
0.8	PG	Procter Gamble Sell-off Trend	Pair Corr
0.7	IBM	International Business	Pair Corr
0.86	T	ATT Inc	Pair Corr

Moving against Capital Etf

0.59	MSTY	YieldMax MSTR Option Buyout Trend	Pair Corr
0.57	MSFT	Microsoft	Pair Corr
0.44	AXP	American Express	Pair Corr
0.43	CAT	Caterpillar	Pair Corr
0.41	AA	Alcoa Corp	Pair Corr
0.37	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.26	0.7	-0.47	0.53	0.29	0.03	0.89	-0.79	0.19	META
MSFT	-0.26		-0.65	0.47	-0.74	0.6	0.88	-0.12	0.56	-0.08	MSFT
UBER	0.7	-0.65		-0.51	0.81	-0.21	-0.57	0.64	-0.85	0.38	UBER
F	-0.47	0.47	-0.51		-0.29	0.23	0.35	-0.37	0.67	0.29	F
T	0.53	-0.74	0.81	-0.29		-0.49	-0.64	0.35	-0.7	0.34	T
A	0.29	0.6	-0.21	0.23	-0.49		0.69	0.53	0.15	0.08	A
CRM	0.03	0.88	-0.57	0.35	-0.64	0.69		0.1	0.39	-0.08	CRM
JPM	0.89	-0.12	0.64	-0.37	0.35	0.53	0.1		-0.68	0.23	JPM
MRK	-0.79	0.56	-0.85	0.67	-0.7	0.15	0.39	-0.68		-0.18	MRK
XOM	0.19	-0.08	0.38	0.29	0.34	0.08	-0.08	0.23	-0.18		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.89	META
CRM	+ 0.88	MSFT
T	+ 0.81	UBER
UBER	+ 0.7	META
CRM	+ 0.69	A
MRK	+ 0.67	F

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.79	META
T	- 0.74	MSFT
MRK	- 0.7	T
MRK	- 0.68	JPM
UBER	- 0.65	MSFT

Capital Group Competition 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
META	1.58	0.09	0.00	(0.04)	0.00	0.00	2.49	(3.59)	8.65
MSFT	1.07	(0.15)	0.00	(0.39)	0.00	0.00	2.56	(2.14)	10.31
UBER	1.89	0.18	0.10	0.28	2.38	(1.97)	4.72	(3.30)	12.75
F	1.40	0.06	0.00	(0.08)	0.00	0.00	2.71	(2.89)	10.14
T	1.04	0.23	0.17	0.30	1.64	(1.07)	1.90	(2.12)	11.66
A	1.14	(0.12)	0.00	(0.28)	0.00	0.00	2.80	(2.59)	9.03
CRM	1.40	(0.27)	0.00	(0.40)	0.00	0.00	2.21	(3.81)	8.88
JPM	1.07	0.03	0.00	(0.12)	0.00	0.00	1.97	(3.35)	6.85
MRK	1.21	(0.13)	0.00	1.63	0.00	0.00	2.08	(2.24)	11.57
XOM	1.01	(0.02)	0.00	(0.21)	0.00	0.00	2.07	(2.36)	5.89

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