Capital World Correlations

Mutual Funds USA . 
Fund . Capital World Growth
CWGCX Fund  USD 74.54  0.49  0.65%   
The current 90-days correlation between Capital World Growth and Ultraemerging Markets Profund is -0.14 (i.e., Good 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

Very poor diversification

The correlation between Capital World Growth and DJI is 0.8 (i.e., Very 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 Trending Equities 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 banks.

Moving together with Capital Mutual Fund

  0.95AMECX Income FundPairCorr
  0.96RNEBX New World FundPairCorr
  0.93AMFCX American MutualPairCorr
  0.93AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.87FPPPX American Funds PresePairCorr
  0.97AMEFX Income FundPairCorr
  0.95RNGGX New Economy FundPairCorr
  0.98RNGFX New Economy FundPairCorr
  0.95RNGHX New Economy FundPairCorr
  0.95RNGBX New Economy FundPairCorr
  0.95RNGAX New Economy FundPairCorr
  0.98RNGEX New Economy FundPairCorr
  0.95RNGCX New Economy FundPairCorr
  0.93AMHIX American High IncomePairCorr
  0.93TEBCX Tax Exempt BondPairCorr
  0.93TECCX Tax Exempt FundPairCorr
  0.93TEAFX Tax Exempt BondPairCorr
  0.98FPTPX American Funds ConsePairCorr
  0.93TECFX Tax Exempt FundPairCorr
  0.93TEFEX Tax Exempt FundPairCorr
  0.98RNNEX New Economy FundPairCorr
  0.95CDJAX American Funds CollegePairCorr
  0.97AMPCX Amcap Fund ClassPairCorr
  0.97AMPFX Amcap Fund ClassPairCorr
  0.99RNPBX New PerspectivePairCorr
  0.99RNPAX New PerspectivePairCorr
  0.99RNPHX New PerspectivePairCorr
  0.99RNPGX New PerspectivePairCorr
  0.99RNPCX New PerspectivePairCorr
  0.99RNPFX New PerspectivePairCorr
  0.99RNPEX New PerspectivePairCorr
  0.92AMRMX American MutualPairCorr
  0.98AMRFX American MutualPairCorr
  0.98RNRPX American Funds RetirementPairCorr
  0.85AMUSX Us Government SecuritiesPairCorr
  0.89TEPCX American Funds TaxPairCorr
  0.9TEPAX American Funds TaxPairCorr
  0.89TEPFX American Funds TaxPairCorr
  0.99RNWFX New World FundPairCorr

Related Correlations Analysis


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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