Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Growth
RWIAX Fund  USD 64.96  0.57  0.89%   
The current 90-days correlation between Capital World Growth and Mainstay High Yield is 0.42 (i.e., Very weak 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 Your Equity Center 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 nation.

Moving together with Capital Mutual Fund

  0.82AMECX Income FundPairCorr
  0.92RNEBX New World FundPairCorr
  0.95AMFCX American MutualPairCorr
  0.95AMFFX American MutualPairCorr
  0.81RNCCX American Funds IncomePairCorr
  0.82AMEFX Income FundPairCorr
  0.96RNGGX New Economy FundPairCorr
  0.96RNGFX New Economy Fund Potential GrowthPairCorr
  0.96RNGHX New Economy FundPairCorr
  0.95RNGBX New Economy FundPairCorr
  0.95RNGAX New Economy FundPairCorr
  0.96RNGEX New Economy FundPairCorr
  0.96RNGCX New Economy FundPairCorr
  0.78AMHIX American High IncomePairCorr
  0.8TEBCX Tax Exempt BondPairCorr
  0.78TECCX Tax Exempt FundPairCorr
  0.78TEAFX Tax Exempt BondPairCorr
  0.79FPTPX American Funds ConsePairCorr
  0.76TECFX Tax Exempt FundPairCorr
  0.75TEFEX Tax Exempt FundPairCorr
  0.96RNNEX New Economy FundPairCorr
  0.85CDJAX American Funds CollegePairCorr
  0.95AMPCX Amcap Fund ClassPairCorr
  0.96AMPFX Amcap Fund ClassPairCorr
  0.92RNPBX New PerspectivePairCorr
  0.92RNPAX New PerspectivePairCorr
  0.91RNPHX New PerspectivePairCorr
  0.91RNPGX New PerspectivePairCorr
  0.92RNPCX New PerspectivePairCorr
  0.91RNPFX New PerspectivePairCorr
  0.91RNPEX New PerspectivePairCorr
  0.95AMRMX American MutualPairCorr
  0.95AMRFX American MutualPairCorr
  0.64AMUSX Us Government SecuritiesPairCorr
  0.63TEPCX 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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