Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Growth
CWGFX Fund  USD 76.69  0.05  0.07%   
The current 90-days correlation between Capital World Growth and Capital World Growth is 1.0 (i.e., No risk reduction). 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 0.79 (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 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 price.

Moving together with Capital Mutual Fund

  0.94AMECX Income FundPairCorr
  0.99RNEBX New World FundPairCorr
  0.97AMFCX American MutualPairCorr
  0.97AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.85FPPPX American Funds PresePairCorr
  0.94AMEFX Income FundPairCorr
  0.99RNGGX New Economy FundPairCorr
  0.99RNGFX New Economy FundPairCorr
  0.99RNGHX New Economy FundPairCorr
  0.99RNGBX New Economy FundPairCorr
  0.99RNGAX New Economy FundPairCorr
  0.99RNGEX New Economy FundPairCorr
  0.99RNGCX New Economy FundPairCorr
  0.93AMHIX American High IncomePairCorr
  0.94TEBCX Tax Exempt BondPairCorr
  0.94TECCX Tax Exempt FundPairCorr
  0.94TEAFX Tax Exempt BondPairCorr
  0.98FPTPX American Funds ConsePairCorr
  0.94TECFX Tax Exempt FundPairCorr
  0.94TEFEX Tax Exempt FundPairCorr
  0.99RNNEX New Economy FundPairCorr
  0.99CDJAX American Funds CollegePairCorr
  0.98AMPCX Amcap Fund ClassPairCorr
  0.98AMPFX 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
  0.97AMRMX American MutualPairCorr
  0.97AMRFX American MutualPairCorr
  0.98RNRPX American Funds RetirementPairCorr
  0.85AMUSX Us Government SecuritiesPairCorr
  0.87TEPCX American Funds TaxPairCorr
  0.88TEPAX 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CWGIX  0.50  0.03  0.01  0.14  0.52 
(0.54)
 1.30 
(0.77)
 4.15 
CWIAX  0.50  0.03  0.01  0.14  0.52 
(0.54)
 1.31 
(0.77)
 4.14 
RWICX  0.50  0.02  0.01  0.13  0.53 
(0.54)
 1.28 
(0.76)
 4.15 
WGIFX  0.50  0.03  0.02  0.14  0.52 
(0.54)
 1.29 
(0.77)
 4.16 
RIDGX  0.28  0.00 (0.17) 0.09  0.21 
(0.31)
 0.77 
(0.51)
 2.02 
AMECX  0.28 (0.01)(0.18) 0.09  0.22 
(0.31)
 0.77 
(0.51)
 2.02 
IFAFX  0.28 (0.01)(0.17) 0.09  0.21 
(0.31)
 0.74 
(0.51)
 2.03 
RERHX  0.55  0.07  0.07  0.20  0.48 
(0.67)
 1.26 
(0.80)
 4.10 
AEGFX  0.55  0.07  0.07  0.20  0.48 
(0.67)
 1.26 
(0.79)
 4.09 
AEPGX  0.55  0.07  0.07  0.20  0.48 
(0.67)
 1.25 
(0.79)
 4.09 

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