Capital Income Correlations

CIRFX Fund

USD 73.28 0.30 0.41%

The current 90-days correlation between Capital Income Builder and Income Fund Of is 0.95 (i.e., Almost no diversification). The correlation of Capital Income 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 Income Correlation With Market

Poor diversification

The correlation between Capital Income Builder and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Income Builder 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 Income Builder. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Capital Mutual Fund

0.74	AMECX	Income Fund	Pair Corr
0.83	RNEBX	New World Fund	Pair Corr
0.66	AMFCX	American Mutual	Pair Corr
0.65	AMFFX	American Mutual	Pair Corr
0.91	RNCCX	American Funds Income	Pair Corr
0.73	AMEFX	Income Fund	Pair Corr
0.89	FPTPX	American Funds Conse	Pair Corr
0.68	CDJAX	American Funds College	Pair Corr
0.77	RNPBX	New Perspective	Pair Corr
0.77	RNPAX	New Perspective	Pair Corr
0.76	RNPHX	New Perspective	Pair Corr
0.76	RNPGX	New Perspective	Pair Corr
0.77	RNPCX	New Perspective	Pair Corr
0.76	RNPFX	New Perspective	Pair Corr
0.76	RNPEX	New Perspective	Pair Corr
0.65	AMRMX	American Mutual	Pair Corr
0.64	AMRFX	American Mutual	Pair Corr
0.95	RNRPX	American Funds Retirement	Pair Corr
0.83	RNWFX	New World Fund	Pair Corr
0.83	RNWEX	New World Fund	Pair Corr
0.83	RNWGX	New World Fund	Pair Corr

Related Correlations Analysis

	AMECX	RNEBX	AMFCX	AMFFX	RNCCX	FPPPX	AMEFX	RNGGX	RNGFX	RNGHX
AMECX		0.51	0.98	0.97	0.89	-0.3	1.0	0.92	0.92	0.92	AMECX
RNEBX	0.51		0.4	0.39	0.69	0.3	0.51	0.37	0.37	0.37	RNEBX
AMFCX	0.98	0.4		1.0	0.85	-0.38	0.98	0.93	0.93	0.93	AMFCX
AMFFX	0.97	0.39	1.0		0.84	-0.39	0.98	0.94	0.94	0.94	AMFFX
RNCCX	0.89	0.69	0.85	0.84		0.13	0.89	0.71	0.71	0.72	RNCCX
FPPPX	-0.3	0.3	-0.38	-0.39	0.13		-0.31	-0.54	-0.54	-0.54	FPPPX
AMEFX	1.0	0.51	0.98	0.98	0.89	-0.31		0.92	0.92	0.92	AMEFX
RNGGX	0.92	0.37	0.93	0.94	0.71	-0.54	0.92		1.0	1.0	RNGGX
RNGFX	0.92	0.37	0.93	0.94	0.71	-0.54	0.92	1.0		1.0	RNGFX
RNGHX	0.92	0.37	0.93	0.94	0.72	-0.54	0.92	1.0	1.0		RNGHX
	AMECX	RNEBX	AMFCX	AMFFX	RNCCX	FPPPX	AMEFX	RNGGX	RNGFX	RNGHX

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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

AMEFX	+ 1.0	AMECX
AMFFX	+ 1.0	AMFCX
RNGFX	+ 1.0	RNGGX
RNGHX	+ 1.0	RNGGX
RNGHX	+ 1.0	RNGFX
AMFCX	+ 0.98	AMECX

High negative correlations

RNGHX	- 0.54	FPPPX
RNGFX	- 0.54	FPPPX
RNGGX	- 0.54	FPPPX
FPPPX	- 0.39	AMFFX
FPPPX	- 0.38	AMFCX
AMEFX	- 0.31	FPPPX

Risk-Adjusted Indicators

There is a big difference between Capital Mutual Fund performing well and Capital Income Mutual Fund 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 Income'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
AMECX	0.32	(0.02)	(0.22)	0.09	0.31	(0.35)	0.68	(0.72)	1.81
RNEBX	0.54	(0.07)	0.00	(0.04)	0.00	0.00	1.27	(1.32)	3.78
AMFCX	0.46	(0.02)	(0.13)	0.09	0.43	(0.51)	0.90	(0.88)	2.68
AMFFX	0.46	(0.02)	(0.12)	0.10	0.43	(0.52)	0.90	(0.86)	2.68
RNCCX	0.25	(0.02)	(0.31)	0.07	0.25	(0.28)	0.52	(0.52)	1.32
FPPPX	0.11	(0.01)	0.00	0.32	0.00	0.00	0.21	(0.21)	0.84
AMEFX	0.32	(0.02)	(0.21)	0.09	0.33	(0.36)	0.68	(0.73)	1.81
RNGGX	0.66	(0.03)	(0.03)	0.10	0.95	(0.68)	1.46	(1.96)	4.07
RNGFX	0.66	(0.03)	(0.03)	0.10	0.97	(0.68)	1.47	(1.97)	4.06
RNGHX	0.66	(0.03)	(0.03)	0.10	0.93	(0.67)	1.47	(1.97)	4.07

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