Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Growth
CWGFX Fund  USD 65.63  0.58  0.89%   
The current 90-days correlation between Capital World Growth and Capital Income Builder is 0.05 (i.e., Significant 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 0.61 (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

  0.83AMECX Income FundPairCorr
  0.92RNEBX New World FundPairCorr
  0.93AMFCX American MutualPairCorr
  0.93AMFFX American MutualPairCorr
  0.82RNCCX American Funds IncomePairCorr
  0.85AMEFX Income FundPairCorr
  0.89RNGGX New Economy FundPairCorr
  0.96RNGFX New Economy Fund Potential GrowthPairCorr
  0.96RNGHX New Economy FundPairCorr
  0.88RNGBX New Economy FundPairCorr
  0.95RNGAX New Economy FundPairCorr
  0.96RNGEX New Economy FundPairCorr
  0.88RNGCX New Economy FundPairCorr
  0.79AMHIX American High IncomePairCorr
  0.77TEBCX Tax Exempt BondPairCorr
  0.78TECCX Tax Exempt FundPairCorr
  0.78TEAFX Tax Exempt BondPairCorr
  0.8FPTPX American Funds ConsePairCorr
  0.74TECFX Tax Exempt FundPairCorr
  0.76TEFEX Tax Exempt FundPairCorr
  0.95RNNEX New Economy FundPairCorr
  0.86CDJAX American Funds CollegePairCorr
  0.94AMPCX Amcap Fund ClassPairCorr
  0.95AMPFX Amcap Fund ClassPairCorr
  0.92RNPBX New PerspectivePairCorr
  0.92RNPAX New PerspectivePairCorr
  0.92RNPHX New PerspectivePairCorr
  0.91RNPGX New PerspectivePairCorr
  0.92RNPCX New PerspectivePairCorr
  0.92RNPFX New PerspectivePairCorr
  0.92RNPEX New PerspectivePairCorr
  0.95AMRMX American MutualPairCorr
  0.95AMRFX American MutualPairCorr
  0.65AMUSX Us Government SecuritiesPairCorr
  0.64TEPCX American Funds TaxPairCorr
  0.92RNWFX New World Fund Potential GrowthPairCorr

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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