Capital Group Correlations

Etfs . USA . 
Etf . Capital Group Core
CGCP Etf  USD 22.19  0.06  0.27%   
The current 90-days correlation between Capital Group Core and Capital Group Dividend is 0.35 (i.e., Weak diversification). The correlation of Capital Group 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 Group Correlation With Market

Weak diversification

The correlation between Capital Group Core and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group Core and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Capital Group Core. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Capital Etf

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  0.85FIXD First Trust TCWPairCorr
  0.92FBND Fidelity Total Bond Sell-off TrendPairCorr
  0.77TOTL SPDR DoubleLine TotalPairCorr
  0.86HTRB Hartford Total ReturnPairCorr
  0.85GTO Invesco Total ReturnPairCorr
  0.79EUSB iShares TrustPairCorr
  0.89JCPB JPMorgan Core PlusPairCorr
  0.94VBND Vident Core BondPairCorr
  0.81BND Vanguard Total BondPairCorr
  0.75BABX GraniteShares 175x LongPairCorr
  0.81RTRE Rareview Total ReturnPairCorr
  0.67QLTA iShares AaaPairCorr
  0.73SCHP Schwab TIPS ETFPairCorr
  0.93VCIT Vanguard Intermediate Sell-off TrendPairCorr
  0.71JHMD John Hancock MultifactorPairCorr
  0.79AGGS Harbor ETF TrustPairCorr

Related Correlations Analysis

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Capital Group Constituents Risk-Adjusted Indicators

There is a big difference between Capital Etf performing well and Capital Group ETF 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 Group'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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