Capital Group Correlations

CGCP Etf

USD 22.54 0.03 0.13%

The current 90-days correlation between Capital Group Core and Capital Group Dividend is 0.35 (i.e., Weak 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

Modest diversification

The correlation between Capital Group Core and DJI is 0.21 (i.e., Modest 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 main economic indicators.

Moving together with Capital Etf

1.0	IUSB	iShares Core Total	Pair Corr
0.99	FIXD	First Trust TCW	Pair Corr
1.0	FBND	Fidelity Total Bond	Pair Corr
0.99	TOTL	SPDR DoubleLine Total	Pair Corr
0.99	HTRB	Hartford Total Return	Pair Corr
1.0	GTO	Invesco Total Return	Pair Corr
0.99	EUSB	iShares Trust	Pair Corr
1.0	JCPB	JPMorgan Core Plus	Pair Corr
0.99	VBND	Vident Core Bond	Pair Corr
0.75	GDXU	MicroSectors Gold Miners	Pair Corr
0.87	KO	Coca Cola	Pair Corr
0.62	CSCO	Cisco Systems	Pair Corr
0.93	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.7	MMM	3M Company	Pair Corr
0.94	JNJ	Johnson Johnson	Pair Corr
0.67	GE	GE Aerospace	Pair Corr
0.79	MCD	McDonalds	Pair Corr

Moving against Capital Etf

0.48	UPRO	ProShares UltraPro SP500	Pair Corr
0.42	QTOC	Innovator ETFs Trust	Pair Corr
0.4	QTJA	Innovator ETFs Trust	Pair Corr
0.32	XTOC	Innovator ETFs Trust	Pair Corr
0.75	AA	Alcoa Corp	Pair Corr
0.73	MSFT	Microsoft	Pair Corr
0.61	CAT	Caterpillar	Pair Corr
0.51	AXP	American Express	Pair Corr
0.5	MRK	Merck Company	Pair Corr
0.42	HD	Home Depot	Pair Corr
0.33	BA	Boeing	Pair Corr

Related Correlations Analysis

	CGDV	CGUS	CGGR	CGGO	CGXU
CGDV		0.58	0.48	0.73	0.88	CGDV
CGUS	0.58		0.98	0.93	0.38	CGUS
CGGR	0.48	0.98		0.91	0.31	CGGR
CGGO	0.73	0.93	0.91		0.64	CGGO
CGXU	0.88	0.38	0.31	0.64		CGXU
	CGDV	CGUS	CGGR	CGGO	CGXU

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CGDV	0.61	0.03	(0.02)	1.26	(1.55)	3.36
CGUS	0.73	(0.04)	(0.12)	1.35	(1.55)	3.70
CGGR	1.10	(0.08)	(0.14)	1.80	(2.62)	6.47
CGGO	0.78	(0.01)	(0.09)	1.27	(1.93)	5.15
CGXU	0.80	0.03	(0.02)	1.58	(1.56)	6.99

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