Capital Income Correlations

Mutual Funds . USA . 
Fund . Capital Income Builder
CAIFX Fund  USD 69.52  0.35  0.50%   
The current 90-days correlation between Capital Income Builder and Angel Oak Ultrashort is 0.12 (i.e., Average diversification). The correlation of Capital Income 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 Income Correlation With Market

Significant diversification

The correlation between Capital Income Builder and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Income Builder 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 Income Builder. 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

  0.87AMECX Income FundPairCorr
  0.93RNEBX New World FundPairCorr
  0.88AMFCX American MutualPairCorr
  0.94AMFFX American MutualPairCorr
  0.87RNCCX American Funds IncomePairCorr
  0.94AMEFX Income FundPairCorr
  0.89RNGGX New Economy FundPairCorr
  0.85RNGFX New Economy FundPairCorr
  0.85RNGHX New Economy FundPairCorr
  0.91RNGBX New Economy FundPairCorr
  0.86RNGAX New Economy FundPairCorr
  0.85RNGEX New Economy FundPairCorr
  0.9RNGCX New Economy FundPairCorr
  0.86FPTPX American Funds ConsePairCorr
  0.86RNNEX New Economy FundPairCorr
  0.7CDJAX American Funds CollegePairCorr
  0.79AMPCX Amcap Fund ClassPairCorr
  0.74AMPFX Amcap Fund ClassPairCorr
  0.87RNPBX New PerspectivePairCorr
  0.87RNPAX New PerspectivePairCorr
  0.85RNPHX New PerspectivePairCorr
  0.85RNPGX New PerspectivePairCorr
  0.86RNPCX New PerspectivePairCorr
  0.85RNPFX New PerspectivePairCorr
  0.86RNPEX New PerspectivePairCorr
  0.88AMRMX American MutualPairCorr
  0.88AMRFX American MutualPairCorr
  0.78RNRPX American Funds RetirementPairCorr
  0.77AMUSX Us Government SecuritiesPairCorr
  0.93RNWFX New World FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Capital Mutual Fund performing well and Capital Income 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 Income'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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