Capital World Correlations

Mutual Funds USA . 
Fund . Capital World Bond
BFWFX Fund  USD 15.90  0.02  0.13%   
The current 90-days correlation between Capital World Bond and Rationalpier 88 Convertible is 0.07 (i.e., Significant 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

Good diversification

The correlation between Capital World Bond and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital World Bond 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 Bond. 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

  0.91FPPPX American Funds PresePairCorr
  0.98AMUSX Us Government SecuritiesPairCorr
  0.99ANBEX American Funds StrategicPairCorr
  1.0CWBFX Capital World BondPairCorr
  0.97CFAAX Bond FundPairCorr
  0.98CGTCX Us Government SecuritiesPairCorr

Moving against Capital Mutual Fund

  0.66ANCFX American Funds FundaPairCorr
  0.63RNNEX New Economy FundPairCorr
  0.49AMFFX American MutualPairCorr
  0.48AMFCX American MutualPairCorr
  0.48BALFX American BalancedPairCorr
  0.47BALCX American BalancedPairCorr
  0.41AMECX Income FundPairCorr
  0.36RNPGX New PerspectivePairCorr
  0.74FAFGX American FundsPairCorr
  0.74GFACX Growth FundPairCorr
  0.74GFAFX Growth FundPairCorr
  0.74CGFEX Growth FundPairCorr
  0.74CGFFX Growth FundPairCorr
  0.74CGFCX Growth FundPairCorr
  0.74CGFAX Growth FundPairCorr
  0.66CFNAX American Funds FundaPairCorr
  0.62GWPAX American Funds GrowthPairCorr
  0.62GWPFX American Funds GrowthPairCorr
  0.61GWPCX American Funds GrowthPairCorr
  0.49FBAFX American Funds AmericanPairCorr
  0.49FBONX American Funds AmericanPairCorr
  0.34RPEBX New PerspectivePairCorr
  0.62CGRGX American Funds GrowthPairCorr
  0.62RAEBX Amcap Fund ClassPairCorr

Related Correlations Analysis

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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.

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