Capital Group Correlations

CGDV Etf

USD 35.54 0.29 0.82%

The current 90-days correlation between Capital Group Dividend and Capital Group Growth is 0.8 (i.e., Very poor 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

Average diversification

The correlation between Capital Group Dividend and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group Dividend 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 Dividend. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Capital Etf

0.87	VTV	Vanguard Value Index	Pair Corr
0.72	VYM	Vanguard High Dividend	Pair Corr
0.79	IWD	iShares Russell 1000	Pair Corr
0.88	DGRO	iShares Core Dividend	Pair Corr
0.84	IVE	iShares SP 500	Pair Corr
0.64	DVY	iShares Select Dividend	Pair Corr
0.83	SPYV	SPDR Portfolio SP	Pair Corr
0.87	FVD	First Trust Value	Pair Corr
0.82	IUSV	iShares Core SP	Pair Corr
0.91	NOBL	ProShares SP 500	Pair Corr
0.72	HPQ	HP Inc	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.65	AA	Alcoa Corp Downward Rally	Pair Corr

Moving against Capital Etf

0.35	XTJA	Innovator ETFs Trust	Pair Corr
0.32	QTJA	Innovator ETFs Trust Low Volatility	Pair Corr
0.32	XDJA	Innovator ETFs Trust	Pair Corr
0.49	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.81	-0.49	-0.48	0.41	0.39	0.53	0.2	-0.05	-0.56	META
MSFT	0.81		-0.55	-0.3	0.61	0.03	0.69	0.45	-0.29	-0.64	MSFT
UBER	-0.49	-0.55		0.58	-0.61	0.03	-0.65	-0.38	0.47	0.73	UBER
F	-0.48	-0.3	0.58		-0.06	-0.15	-0.15	0.18	0.05	0.74	F
T	0.41	0.61	-0.61	-0.06		-0.23	0.85	0.81	-0.64	-0.5	T
A	0.39	0.03	0.03	-0.15	-0.23		-0.22	-0.44	0.68	0.18	A
CRM	0.53	0.69	-0.65	-0.15	0.85	-0.22		0.85	-0.73	-0.59	CRM
JPM	0.2	0.45	-0.38	0.18	0.81	-0.44	0.85		-0.8	-0.38	JPM
MRK	-0.05	-0.29	0.47	0.05	-0.64	0.68	-0.73	-0.8		0.45	MRK
XOM	-0.56	-0.64	0.73	0.74	-0.5	0.18	-0.59	-0.38	0.45		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

CRM	+ 0.85	T
JPM	+ 0.85	CRM
MSFT	+ 0.81	META
JPM	+ 0.81	T
XOM	+ 0.74	F
XOM	+ 0.73	UBER

High negative correlations

MRK	- 0.8	JPM
MRK	- 0.73	CRM
CRM	- 0.65	UBER
MRK	- 0.64	T
XOM	- 0.64	MSFT
T	- 0.61	UBER

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	1.26	0.07	0.04	0.32	1.44	(1.43)	2.62	(3.15)	7.43
MSFT	0.87	0.01	0.00	(0.09)	1.61	(0.80)	1.78	(1.73)	8.14
UBER	1.76	(0.20)	0.00	(1.17)	0.00	0.00	2.67	(5.35)	20.41
F	1.39	(0.10)	0.00	(0.34)	0.00	0.00	2.38	(2.81)	11.21
T	0.96	0.05	0.03	0.20	1.15	(0.99)	1.93	(1.99)	7.95
A	1.12	(0.12)	0.00	(0.34)	0.00	0.00	2.43	(2.42)	8.06
CRM	1.47	0.33	0.20	6.67	1.34	(1.70)	3.18	(2.88)	14.80
JPM	1.06	0.26	0.19	(17.88)	1.04	(1.25)	1.99	(1.42)	15.87
MRK	0.96	(0.21)	0.00	(0.89)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.77	(0.15)	0.00	(0.76)	0.00	0.00	1.71	(2.14)	6.06

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