Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Growth
RWIGX Fund  USD 65.13  0.53  0.82%   
The current 90-days correlation between Capital World Growth and Sprucegrove International Equity is 0.84 (i.e., Very poor 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 0.71 (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 price.

Moving together with Capital Mutual Fund

  0.7AMECX Income FundPairCorr
  0.95AMFCX American MutualPairCorr
  0.94AMFFX American MutualPairCorr
  0.75RNCCX American Funds IncomePairCorr
  0.64AMEFX Income FundPairCorr
  0.79RNGHX New Economy FundPairCorr
  0.78RNGBX New Economy FundPairCorr
  0.79RNGEX New Economy FundPairCorr
  0.75FPTPX American Funds ConsePairCorr
  0.7AMPFX Amcap Fund ClassPairCorr
  0.87RNPBX New PerspectivePairCorr
  0.87RNPAX New PerspectivePairCorr
  0.88RNPHX New PerspectivePairCorr
  0.88RNPGX New PerspectivePairCorr
  0.88RNPFX New PerspectivePairCorr
  0.88RNPEX New PerspectivePairCorr
  0.94AMRMX American MutualPairCorr
  0.66RNRPX American Funds RetirementPairCorr
  0.81RNWEX New World FundPairCorr
  0.8RNWGX New World FundPairCorr
  0.81RNWBX New World FundPairCorr
  0.81RNWAX New World FundPairCorr
  0.81RNWCX New World FundPairCorr
  0.78ANCFX American Funds FundaPairCorr
  0.79ANEFX New Economy FundPairCorr
  0.78ANFFX New Economy FundPairCorr
  0.88NPFFX New PerspectivePairCorr
  0.73PGGFX American Funds GlobalPairCorr
  0.88ANWPX New PerspectivePairCorr
  0.84BALFX American BalancedPairCorr

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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