Capital World Correlations

WGIFX Fund

USD 64.51 0.25 0.39%

The current 90-days correlation between Capital World Growth and Health Biotchnology Portfolio is 0.31 (i.e., 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 0.71 (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 Current Watchlist 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 census.

Moving together with CAPITAL Mutual Fund

0.69	AMECX	Income Fund	Pair Corr
0.95	AMFCX	American Mutual	Pair Corr
0.94	AMFFX	American Mutual	Pair Corr
0.75	RNCCX	American Funds Income	Pair Corr
0.64	AMEFX	Income Fund	Pair Corr
0.79	RNGHX	New Economy Fund	Pair Corr
0.79	RNGBX	New Economy Fund	Pair Corr
0.79	RNGEX	New Economy Fund	Pair Corr
0.74	FPTPX	American Funds Conse	Pair Corr
0.7	AMPFX	Amcap Fund Class	Pair Corr
0.87	RNPBX	New Perspective	Pair Corr
0.87	RNPAX	New Perspective	Pair Corr
0.88	RNPHX	New Perspective	Pair Corr
0.88	RNPGX	New Perspective	Pair Corr
0.88	RNPFX	New Perspective	Pair Corr
0.88	RNPEX	New Perspective	Pair Corr
0.94	AMRMX	American Mutual	Pair Corr
0.66	RNRPX	American Funds Retirement	Pair Corr
0.8	RNWEX	New World Fund	Pair Corr
0.8	RNWGX	New World Fund	Pair Corr
0.81	RNWBX	New World Fund	Pair Corr
0.81	RNWAX	New World Fund	Pair Corr
0.81	RNWCX	New World Fund	Pair Corr
0.78	ANCFX	American Funds Funda	Pair Corr
0.79	ANEFX	New Economy Fund	Pair Corr
0.79	ANFFX	New Economy Fund	Pair Corr
0.88	NPFFX	New Perspective	Pair Corr
0.73	PGGFX	American Funds Global	Pair Corr
0.88	ANWPX	New Perspective	Pair Corr
0.84	BALFX	American Balanced	Pair Corr

Related Correlations Analysis

	SBHIX	HTECX	NWHOX	TEFQX	JAGTX	CMTFX	BGSCX	DTEYX
SBHIX		0.06	-0.11	0.2	-0.18	-0.25	-0.22	-0.02	SBHIX
HTECX	0.06		0.8	0.82	0.95	0.93	0.94	0.98	HTECX
NWHOX	-0.11	0.8		0.64	0.83	0.82	0.83	0.82	NWHOX
TEFQX	0.2	0.82	0.64		0.7	0.64	0.69	0.84	TEFQX
JAGTX	-0.18	0.95	0.83	0.7		0.99	1.0	0.97	JAGTX
CMTFX	-0.25	0.93	0.82	0.64	0.99		1.0	0.94	CMTFX
BGSCX	-0.22	0.94	0.83	0.69	1.0	1.0		0.96	BGSCX
DTEYX	-0.02	0.98	0.82	0.84	0.97	0.94	0.96		DTEYX
	SBHIX	HTECX	NWHOX	TEFQX	JAGTX	CMTFX	BGSCX	DTEYX

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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

BGSCX	+ 1.0	JAGTX
BGSCX	+ 1.0	CMTFX
CMTFX	+ 0.99	JAGTX
DTEYX	+ 0.98	HTECX
DTEYX	+ 0.97	JAGTX
DTEYX	+ 0.96	BGSCX

High negative correlations

CMTFX	- 0.25	SBHIX
BGSCX	- 0.22	SBHIX
JAGTX	- 0.18	SBHIX
NWHOX	- 0.11	SBHIX
DTEYX	- 0.02	SBHIX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SBHIX	0.63	0.03	0.09	0.00	0.74	(0.68)	1.20	(1.17)	3.37
HTECX	1.13	(0.07)	0.00	(0.14)	0.00	0.00	1.51	(3.14)	5.92
NWHOX	1.50	(0.29)	0.00	(0.44)	0.00	0.00	2.08	(3.60)	14.43
TEFQX	1.70	0.06	0.00	(0.02)	0.00	0.00	2.96	(3.69)	10.40
JAGTX	1.18	(0.07)	0.00	(0.14)	0.00	0.00	2.00	(3.18)	6.40
CMTFX	1.32	(0.11)	0.00	(0.17)	0.00	0.00	1.94	(3.44)	7.85
BGSCX	1.48	(0.10)	0.00	(0.16)	0.00	0.00	2.37	(3.68)	9.08
DTEYX	1.37	(0.06)	0.00	(0.12)	0.00	0.00	2.50	(3.77)	7.35

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