Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Bond
RCWGX Fund  USD 16.00  0.06  0.37%   
The current 90-days correlation between Capital World Bond and Adams Natural Resources 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

Modest diversification

The correlation between Capital World Bond and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital World Bond and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Capital World Bond. 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 price.

Moving together with Capital Mutual Fund

  0.88AMECX Income FundPairCorr
  0.85RNEBX New World FundPairCorr
  0.86AMFCX American MutualPairCorr
  0.86AMFFX American MutualPairCorr
  0.91RNCCX American Funds IncomePairCorr
  0.9AMEFX Income FundPairCorr
  0.66RNGGX New Economy FundPairCorr
  0.65RNGFX New Economy Fund Potential GrowthPairCorr
  0.64RNGHX New Economy FundPairCorr
  0.65RNGBX New Economy FundPairCorr
  0.63RNGAX New Economy FundPairCorr
  0.64RNGEX New Economy FundPairCorr
  0.66RNGCX New Economy FundPairCorr
  0.92AMHIX American High IncomePairCorr
  0.84TEBCX Tax Exempt BondPairCorr
  0.89TECCX Tax Exempt FundPairCorr
  0.92TEAFX Tax Exempt BondPairCorr
  0.9FPTPX American Funds ConsePairCorr
  0.82TECFX Tax Exempt FundPairCorr
  0.9TEFEX Tax Exempt FundPairCorr
  0.64RNNEX New Economy FundPairCorr
  0.75CDJAX American Funds CollegePairCorr
  0.63AMPCX Amcap Fund ClassPairCorr
  0.64AMPFX Amcap Fund ClassPairCorr
  0.78RNPBX New PerspectivePairCorr
  0.78RNPAX New PerspectivePairCorr
  0.78RNPHX New PerspectivePairCorr
  0.79RNPGX New PerspectivePairCorr
  0.78RNPFX New PerspectivePairCorr
  0.78RNPEX New PerspectivePairCorr
  0.83AMRMX American MutualPairCorr
  0.83AMRFX American MutualPairCorr
  0.73RNRPX American Funds RetirementPairCorr
  0.92AMUSX Us Government SecuritiesPairCorr
  0.84TEPCX American Funds TaxPairCorr
  0.83TEPFX American Funds TaxPairCorr
  0.85RNWFX New World Fund Potential GrowthPairCorr
  0.85RNWHX New World Fund Potential GrowthPairCorr
  0.86RNWGX 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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