Capital Income Correlations

Mutual Funds . USA . 
Fund . Capital Income Builder
RIRFX Fund  USD 72.35  0.18  0.25%   
The current 90-days correlation between Capital Income Builder and Boston Partners Emerging is 0.28 (i.e., Modest 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

Very weak diversification

The correlation between Capital Income Builder and DJI is 0.52 (i.e., Very weak 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 Your Equity Center 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

  0.95AMECX Income FundPairCorr
  0.83RNEBX New World FundPairCorr
  0.75AMFCX American MutualPairCorr
  0.74AMFFX American MutualPairCorr
  0.94RNCCX American Funds IncomePairCorr
  0.79FPPPX American Funds PresePairCorr
  0.96AMEFX Income FundPairCorr
  0.84AMHIX American High IncomePairCorr
  0.74TEBCX Tax Exempt BondPairCorr
  0.71TECCX Tax Exempt FundPairCorr
  0.78TEAFX Tax Exempt BondPairCorr
  0.95FPTPX American Funds ConsePairCorr
  0.74TECFX Tax Exempt FundPairCorr
  0.76TEFEX Tax Exempt FundPairCorr
  0.75AMRMX American MutualPairCorr
  0.75AMRFX American MutualPairCorr
  0.96RNRPX American Funds RetirementPairCorr
  0.79AMUSX Us Government SecuritiesPairCorr
  0.9TEPCX American Funds TaxPairCorr
  0.91TEPAX American Funds TaxPairCorr
  0.9TEPFX American Funds TaxPairCorr
  0.85RNWFX New World FundPairCorr

Related Correlations Analysis

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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   
SEDIX
+ 0.97
BXECX
SEDIX
+ 0.95
SMSDX
SMSDX
+ 0.92
BELSX
SEDIX
+ 0.91
BELSX
BXECX
+ 0.9
SMSDX
BXECX
+ 0.88
BELSX
  
High negative correlations   
EGLNX
- 0.05
RYACX

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.

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