Capital Group Correlations

Etfs . USA . 
Etf . Capital Group International
CGIC Etf   26.45  0.25  0.94%   
The current 90-days correlation between Capital Group Intern and Davis Select International is 0.83 (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.

Capital Group Correlation With Market

Very weak diversification

The correlation between Capital Group International and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group International 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 International. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Capital Etf

  0.99VEA Vanguard FTSE DevelopedPairCorr
  1.0IEFA iShares Core MSCIPairCorr
  0.99VEU Vanguard FTSE AllPairCorr
  1.0EFA iShares MSCI EAFEPairCorr
  0.99IXUS iShares Core MSCIPairCorr
  0.99SPDW SPDR SP WorldPairCorr
  0.99IDEV iShares Core MSCIPairCorr
  1.0ESGD iShares ESG AwarePairCorr
  0.99JIRE JP Morgan ExchangePairCorr
  0.99DFAX Dimensional WorldPairCorr
  0.92GDXU MicroSectors Gold MinersPairCorr
  0.92JNJ Johnson JohnsonPairCorr
  0.8MCD McDonaldsPairCorr
  0.72CVX Chevron CorpPairCorr
  0.8TRV The Travelers CompaniesPairCorr
  0.87VZ Verizon CommunicationsPairCorr
  0.81GE GE AerospacePairCorr
  0.67INTC IntelPairCorr
  0.68XOM Exxon Mobil Corp Earnings Call This WeekPairCorr

Moving against Capital Etf

  0.49UPRO ProShares UltraPro SP500PairCorr
  0.38QTOC Innovator ETFs TrustPairCorr
  0.36QTJA Innovator ETFs Trust Low VolatilityPairCorr
  0.61MRK Merck CompanyPairCorr
  0.6HPQ HP IncPairCorr
  0.6DIS Walt DisneyPairCorr
  0.59CAT CaterpillarPairCorr
  0.53AXP American ExpressPairCorr
  0.49HD Home DepotPairCorr
  0.44BAC Bank of America Aggressive PushPairCorr

Related Correlations Analysis

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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   
DSMC
+ 0.94
MGMT
DSTX
+ 0.93
DINT
VFVA
+ 0.92
MGMT
VFVA
+ 0.91
PY
VFMV
+ 0.84
DIVY
DSTX
+ 0.84
VFMV
  
High negative correlations   
DSMC
- 0.77
DINT
DSTX
- 0.73
DSMC
MGMT
- 0.63
DINT
DSTX
- 0.57
MGMT
DSTX
- 0.46
XC
DSMC
- 0.45
VFMV

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.

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