Capital World Correlations

WGIFX Fund

USD 65.18 1.21 1.89%

The current 90-days correlation between Capital World Growth and Touchstone Large Cap is 0.92 (i.e., Almost no 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

Significant diversification

The correlation between Capital World Growth and DJI is 0.05 (i.e., Significant 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

1.0	FCWGX	American Funds Capital	Pair Corr
1.0	FWCGX	American Funds Capital	Pair Corr
1.0	CWGIX	Capital World Growth	Pair Corr
1.0	CWGFX	Capital World Growth	Pair Corr
1.0	CWGCX	Capital World Growth	Pair Corr
1.0	RWIFX	Capital World Growth	Pair Corr
1.0	CWICX	Capital World Growth	Pair Corr
1.0	RWIAX	Capital World Growth	Pair Corr
1.0	CWIAX	Capital World Growth	Pair Corr
0.62	CEE	Central Europe Russia	Pair Corr
0.84	RIRAX	Capital Income Builder	Pair Corr

Moving against Capital Mutual Fund

0.6	BXECX	Barings Emerging Markets	Pair Corr
0.6	BXEAX	Barings Emerging Markets	Pair Corr
0.4	FMUSX	Federated Municipal	Pair Corr
0.38	MGOIX	Mainstay Government	Pair Corr

Related Correlations Analysis

	TACLX	SLYCX	CBLSX	AMFFX	ENGRX	AMONX
TACLX		0.95	0.97	0.99	0.85	0.87	TACLX
SLYCX	0.95		0.96	0.97	0.93	0.98	SLYCX
CBLSX	0.97	0.96		0.98	0.88	0.89	CBLSX
AMFFX	0.99	0.97	0.98		0.89	0.91	AMFFX
ENGRX	0.85	0.93	0.88	0.89		0.93	ENGRX
AMONX	0.87	0.98	0.89	0.91	0.93		AMONX
	TACLX	SLYCX	CBLSX	AMFFX	ENGRX	AMONX

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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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
TACLX	1.03	(0.05)	6.38	1.52	(1.76)	10.03
SLYCX	1.19	(0.09)	0.86	1.95	(2.30)	12.31
CBLSX	0.94	(0.03)	0.79	1.58	(1.72)	9.67
AMFFX	0.89	(0.03)	(6.16)	1.45	(1.76)	9.15
ENGRX	0.73	(0.04)	0.14	1.57	(2.06)	7.42
AMONX	1.56	(0.10)	0.66	2.70	(3.70)	14.39

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