Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Growth
RWIBX Fund  USD 65.14  0.29  0.45%   
The current 90-days correlation between Capital World Growth and Pioneer High Income is 0.14 (i.e., Average 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 bureau of labor statistics.

Moving together with Capital Mutual Fund

  0.84AMECX Income FundPairCorr
  0.82RNEBX New World FundPairCorr
  0.93AMFCX American MutualPairCorr
  0.87AMFFX American MutualPairCorr
  0.83RNCCX American Funds IncomePairCorr
  0.86AMEFX Income FundPairCorr
  0.86RNGGX New Economy FundPairCorr
  0.85RNGFX New Economy FundPairCorr
  0.85RNGHX New Economy FundPairCorr
  0.96RNGBX New Economy FundPairCorr
  0.84RNGAX New Economy FundPairCorr
  0.85RNGEX New Economy FundPairCorr
  0.85RNGCX New Economy FundPairCorr
  0.81AMHIX American High IncomePairCorr
  0.81TEBCX Tax Exempt BondPairCorr
  0.79TECCX Tax Exempt FundPairCorr
  0.81TEAFX Tax Exempt BondPairCorr
  0.79FPTPX American Funds ConsePairCorr
  0.79TECFX Tax Exempt FundPairCorr
  0.79TEFEX Tax Exempt FundPairCorr
  0.97RNNEX New Economy FundPairCorr
  0.77CDJAX American Funds CollegePairCorr
  0.84AMPCX Amcap Fund ClassPairCorr
  0.97AMPFX Amcap Fund ClassPairCorr
  0.93RNPBX New PerspectivePairCorr
  0.93RNPAX New PerspectivePairCorr
  0.79RNPHX New PerspectivePairCorr
  0.79RNPGX New PerspectivePairCorr
  0.8RNPCX New PerspectivePairCorr
  0.79RNPFX New PerspectivePairCorr
  0.92RNPEX New PerspectivePairCorr
  0.93AMRMX American MutualPairCorr
  0.93AMRFX American MutualPairCorr
  0.62RNRPX American Funds RetirementPairCorr
  0.79AMUSX Us Government SecuritiesPairCorr
  0.72TEPCX American Funds TaxPairCorr
  0.68TEPAX American Funds TaxPairCorr
  0.68TEPFX American Funds TaxPairCorr
  0.92RNWFX New World FundPairCorr

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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