Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Growth
CWGFX Fund  USD 64.45  0.25  0.39%   
The current 90-days correlation between Capital World Growth and Capital Income Builder is 0.68 (i.e., Poor diversification). The correlation of Capital World 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 World Correlation With Market

Poor diversification

The correlation between Capital World Growth 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 World Growth 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 World Growth. 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

  0.67AMECX Income FundPairCorr
  0.95AMFCX American MutualPairCorr
  0.94AMFFX American MutualPairCorr
  0.73RNCCX American Funds IncomePairCorr
  0.61AMEFX Income FundPairCorr
  0.81RNGHX New Economy FundPairCorr
  0.81RNGBX New Economy FundPairCorr
  0.81RNGEX New Economy FundPairCorr
  0.72FPTPX American Funds ConsePairCorr
  0.73AMPFX Amcap Fund ClassPairCorr
  0.88RNPBX New PerspectivePairCorr
  0.88RNPAX New PerspectivePairCorr
  0.89RNPHX New PerspectivePairCorr
  0.9RNPGX New PerspectivePairCorr
  0.9RNPFX New PerspectivePairCorr
  0.89RNPEX New PerspectivePairCorr
  0.94AMRMX American MutualPairCorr
  0.64RNRPX American Funds RetirementPairCorr
  0.78RNWEX New World FundPairCorr
  0.78RNWGX New World FundPairCorr
  0.79RNWBX New World FundPairCorr
  0.79RNWAX New World FundPairCorr
  0.79RNWCX New World FundPairCorr
  0.81ANCFX American Funds FundaPairCorr
  0.81ANEFX New Economy FundPairCorr
  0.81ANFFX New Economy FundPairCorr
  0.89NPFFX New PerspectivePairCorr
  0.75PGGFX American Funds GlobalPairCorr
  0.89ANWPX New PerspectivePairCorr
  0.85BALFX American BalancedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between CAPITAL Mutual Fund performing well and Capital World 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 World'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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