Capital Group Correlations

CUSEX Fund

USD 34.01 0.53 1.58%

The current 90-days correlation between Capital Group Equity and Emerging Markets Growth is -0.18 (i.e., Good 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 Equity and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group Equity 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 Equity. 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 income.

Moving together with Capital Mutual Fund

0.97	VTSAX	Vanguard Total Stock	Pair Corr
0.91	VFIAX	Vanguard 500 Index	Pair Corr
0.97	VTSMX	Vanguard Total Stock	Pair Corr
0.91	VITSX	Vanguard Total Stock	Pair Corr
0.97	VSMPX	Vanguard Total Stock	Pair Corr
0.97	VSTSX	Vanguard Total Stock	Pair Corr
0.91	VFINX	Vanguard 500 Index	Pair Corr
0.97	VFFSX	Vanguard 500 Index	Pair Corr
0.89	VINIX	Vanguard Institutional	Pair Corr
0.89	VIIIX	Vanguard Institutional	Pair Corr

Moving against Capital Mutual Fund

0.92	USPSX	Profunds Ultrashort	Pair Corr
0.92	USPIX	Profunds Ultrashort	Pair Corr
0.89	UIPIX	Ultrashort Mid Cap	Pair Corr
0.41	LCRVX	Lord Abbett E	Pair Corr
0.35	FAZPLX	Fazplx	Pair Corr
0.34	AAMBMX	Aambmx	Pair Corr
0.45	FSGIX	Federated Gov Sec	Pair Corr
0.41	PSJIX	Short Term Income	Pair Corr

Related Correlations Analysis

	CUSEX	EMGEX	EMRGX	CCCMX	CCSTX	REFGX	MNDVUX	NWWAX	SMGASX
CUSEX		0.01	0.03	-0.19	-0.2	0.03	0.68	0.0	0.0	CUSEX
EMGEX	0.01		0.76	0.7	0.76	0.76	0.32	0.0	0.0	EMGEX
EMRGX	0.03	0.76		0.53	0.53	1.0	0.39	0.0	0.0	EMRGX
CCCMX	-0.19	0.7	0.53		0.96	0.53	0.02	0.0	0.0	CCCMX
CCSTX	-0.2	0.76	0.53	0.96		0.53	0.08	0.0	0.0	CCSTX
REFGX	0.03	0.76	1.0	0.53	0.53		0.39	0.0	0.0	REFGX
MNDVUX	0.68	0.32	0.39	0.02	0.08	0.39		0.0	0.0	MNDVUX
NWWAX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	NWWAX
SMGASX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		SMGASX
	CUSEX	EMGEX	EMRGX	CCCMX	CCSTX	REFGX	MNDVUX	NWWAX	SMGASX

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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

REFGX	+ 1.0	EMRGX
CCSTX	+ 0.96	CCCMX
EMRGX	+ 0.76	EMGEX
CCSTX	+ 0.76	EMGEX
REFGX	+ 0.76	EMGEX
CCCMX	+ 0.7	EMGEX

High negative correlations

CCSTX	- 0.2	CUSEX
CCCMX	- 0.19	CUSEX
SMGASX	- 0.0	NWWAX
SMGASX	- 0.0	MNDVUX
NWWAX	- 0.0	MNDVUX
SMGASX	- 0.0	REFGX

Risk-Adjusted Indicators

There is a big difference between Capital Mutual Fund performing well and Capital Group 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 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
CUSEX	0.77	(0.03)	0.00	(0.07)	0.00	0.00	1.39	(2.03)	3.89
EMGEX	0.66	0.03	0.07	1.83	0.80	(0.72)	1.43	(1.56)	4.65
EMRGX	0.67	0.07	0.11	0.19	0.77	(0.74)	1.43	(1.45)	4.63
CCCMX	0.10	(0.01)	0.13	0.22	0.13	(0.13)	0.20	(0.29)	0.69
CCSTX	0.07	0.00	0.21	0.10	0.00	(0.11)	0.10	(0.10)	0.40
REFGX	0.65	0.07	0.11	0.19	0.74	(0.75)	1.32	(1.30)	4.47
MNDVUX	0.65	0.06	0.11	(3.03)	0.77	(0.68)	1.23	(1.22)	3.65
NWWAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SMGASX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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