Capital Group Correlations

Etfs . USA . 
Etf . Capital Group International
CGXU Etf  USD 25.34  0.60  2.31%   
The current 90-days correlation between Capital Group Intern and Capital Group Dividend is 0.74 (i.e., 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

Poor diversification

The correlation between Capital Group International and DJI is 0.61 (i.e., Poor 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 interest.

Moving together with Capital Etf

  0.77EFG iShares MSCI EAFEPairCorr
  0.68VIGI Vanguard InternationalPairCorr
  0.89IHDG WisdomTree InternationalPairCorr
  0.78DNL WisdomTree GlobalPairCorr
  0.83FPXI First Trust InternationalPairCorr
  0.87IQDG WisdomTree InternationalPairCorr
  0.89PIZ Invesco DWA DevelopedPairCorr
  0.79IDHQ Invesco SP InternationalPairCorr
  0.9BKCI BNY Mellon ETFPairCorr
  0.8EWC iShares MSCI CanadaPairCorr
  0.7GDXU MicroSectors Gold MinersPairCorr
  0.68CSCO Cisco Systems Aggressive PushPairCorr
  0.66IBM International BusinessPairCorr
  0.77MMM 3M CompanyPairCorr
  0.67DD Dupont De NemoursPairCorr
  0.66JPM JPMorgan Chase Sell-off TrendPairCorr

Moving against Capital Etf

  0.76MRK Merck CompanyPairCorr

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   
CGUS
+ 0.98
CGGR
CGUS
+ 0.93
CGGO
CGGR
+ 0.91
CGGO
CGGO
+ 0.73
CGDV
CGUS
+ 0.57
CGDV
CGGR
+ 0.47
CGDV
  
High negative correlations   
CGCP
- 0.51
CGGR
CGCP
- 0.41
CGUS
CGCP
- 0.19
CGGO

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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