Capital Group Correlations

Mutual Funds . USA . 
Fund . Capital Group California
CCSTX Fund  USD 10.02  0.01  0.1%   
The current 90-days correlation between Capital Group California and Davenport Small Cap is -0.21 (i.e., Very good diversification). The correlation of Capital Group 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 Group Correlation With Market

Good diversification

The correlation between Capital Group California and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group California 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 Group California. 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 estimate.

Moving together with Capital Mutual Fund

  0.97ANIYX New York MunicipalPairCorr
  0.96SNNYX New York MunicipalPairCorr
  0.74LTBYX Opnhmr RchstrPairCorr
  0.77IORMX Aim Taxexempt FundsPairCorr
  0.83LTNCX Oppenheimer RochesterPairCorr
  0.76LTNYX Opnhmr RchstrPairCorr
  0.95ANMCX New York MunicipalPairCorr
  0.96ANIAX New York MunicipalPairCorr
  0.97SNCAX California MunicipalPairCorr
  0.97AICYX California MunicipalPairCorr

Moving against Capital Mutual Fund

  0.39TLCYX Touchstone Large CapPairCorr
  0.34MLMAX Global E PortfolioPairCorr
  0.32INPIX Internet UltrasectorPairCorr
  0.32INPSX Internet UltrasectorPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
SIGWX
+ 0.99
DSCPX
ADX
+ 0.9
DSCPX
ADX
+ 0.9
SIGWX
SIGWX
+ 0.86
LIGFX
LIGFX
+ 0.82
DSCPX
ADX
+ 0.8
LIGFX
  
High negative correlations   
HIIDX
- 0.37
DSCPX
ADX
- 0.36
HIIDX
SIGWX
- 0.32
HIIDX

Risk-Adjusted Indicators

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