Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Bond
CCWCX Fund  USD 15.80  0.01  0.06%   
The current 90-days correlation between Capital World Bond and Templeton Global Bond is -0.08 (i.e., Good 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 -0.13 (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 main economic indicators.

Moving together with Capital Mutual Fund

  0.83FPPPX American Funds PresePairCorr
  0.98AMUSX Us Government SecuritiesPairCorr
  0.97ANBEX American Funds StrategicPairCorr
  0.98CWBFX Capital World BondPairCorr
  0.97CFAAX Bond FundPairCorr
  0.98CGTCX Us Government SecuritiesPairCorr

Moving against Capital Mutual Fund

  0.7ANCFX American Funds FundaPairCorr
  0.64RNNEX New Economy FundPairCorr
  0.52AMFFX American MutualPairCorr
  0.51AMFCX American MutualPairCorr
  0.49BALFX American BalancedPairCorr
  0.47BALCX American BalancedPairCorr
  0.45AMECX Income FundPairCorr
  0.37RNPGX New PerspectivePairCorr
  0.34CWGCX Capital World GrowthPairCorr
  0.76FAFGX American FundsPairCorr
  0.76GFACX Growth FundPairCorr
  0.76CGFCX Growth FundPairCorr
  0.76CGFAX Growth FundPairCorr
  0.74GFAFX Growth FundPairCorr
  0.74CGFEX Growth FundPairCorr
  0.74CGFFX Growth FundPairCorr
  0.66CFNAX American Funds FundaPairCorr
  0.65GWPAX American Funds GrowthPairCorr
  0.62GWPFX American Funds GrowthPairCorr
  0.61GWPCX American Funds GrowthPairCorr
  0.54FBAFX American Funds AmericanPairCorr
  0.54FBONX American Funds AmericanPairCorr
  0.41RPEBX New PerspectivePairCorr
  0.36CWIFX Capital World GrowthPairCorr
  0.66CGRGX American Funds GrowthPairCorr
  0.66RAEBX Amcap Fund ClassPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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
FGBRX  0.47 (0.12) 0.00 (1.27) 0.00 
 0.00 
 0.82 
(0.95)
 2.77 
FBNRX  0.47 (0.11) 0.00  6.77  0.00 
 0.00 
 0.73 
(0.94)
 2.98 
FCWBX  0.27 (0.07) 0.00 (1.21) 0.00 
 0.00 
 0.43 
(0.56)
 1.78 
RCWBX  0.26 (0.07) 0.00 (1.16) 0.00 
 0.00 
 0.44 
(0.57)
 1.74 
CCWFX  0.26 (0.06) 0.00  1.08  0.00 
 0.00 
 0.44 
(0.50)
 1.85 
CCWCX  0.26 (0.06) 0.00  1.23  0.00 
 0.00 
 0.44 
(0.50)
 1.79 
RCWEX  0.25 (0.06) 0.00  1.08  0.00 
 0.00 
 0.43 
(0.50)
 1.78 
CCWEX  0.26 (0.06) 0.00  1.19  0.00 
 0.00 
 0.44 
(0.56)
 1.78 
RCWCX  0.27 (0.06) 0.00  1.15  0.00 
 0.00 
 0.44 
(0.56)
 1.78 
RCWGX  0.26 (0.06) 0.00  1.34  0.00 
 0.00 
 0.43 
(0.56)
 1.84 

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