Capital World Correlations

CCWEX Fund

USD 15.98 0.12 0.76%

The current 90-days correlation between Capital World Bond and Income Fund Of is 0.23 (i.e., Modest 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 -0.15 (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 income.

Moving together with Capital Mutual Fund

0.9	FPPPX	American Funds Prese	Pair Corr
0.98	AMUSX	Us Government Securities	Pair Corr
0.99	ANBEX	American Funds Strategic	Pair Corr
1.0	CWBFX	Capital World Bond	Pair Corr
0.98	CFAAX	Bond Fund	Pair Corr
0.99	CGTCX	Us Government Securities	Pair Corr

Moving against Capital Mutual Fund

0.67	ANCFX	American Funds Funda	Pair Corr
0.64	RNNEX	New Economy Fund	Pair Corr
0.5	AMFFX	American Mutual	Pair Corr
0.49	AMFCX	American Mutual	Pair Corr
0.49	BALFX	American Balanced	Pair Corr
0.48	BALCX	American Balanced	Pair Corr
0.42	AMECX	Income Fund	Pair Corr
0.37	RNPGX	New Perspective	Pair Corr
0.75	FAFGX	American Funds	Pair Corr
0.75	GFAFX	Growth Fund	Pair Corr
0.75	CGFEX	Growth Fund	Pair Corr
0.75	CGFFX	Growth Fund	Pair Corr
0.75	CGFAX	Growth Fund	Pair Corr
0.74	GFACX	Growth Fund	Pair Corr
0.74	CGFCX	Growth Fund	Pair Corr
0.67	CFNAX	American Funds Funda	Pair Corr
0.63	GWPAX	American Funds Growth	Pair Corr
0.63	GWPFX	American Funds Growth	Pair Corr
0.62	GWPCX	American Funds Growth	Pair Corr
0.5	FBAFX	American Funds American	Pair Corr
0.5	FBONX	American Funds American	Pair Corr
0.35	RPEBX	New Perspective	Pair Corr
0.63	CGRGX	American Funds Growth	Pair Corr
0.63	RAEBX	Amcap Fund Class	Pair Corr

Related Correlations Analysis

	AMECX	RNEBX	AMFCX	AMFFX	RNCCX	FPPPX	AMEFX	RNGGX	RNGFX	RNGHX
AMECX		0.65	0.98	0.98	0.9	-0.17	1.0	0.91	0.91	0.91	AMECX
RNEBX	0.65		0.57	0.56	0.8	0.27	0.65	0.48	0.48	0.48	RNEBX
AMFCX	0.98	0.57		1.0	0.86	-0.24	0.98	0.93	0.93	0.93	AMFCX
AMFFX	0.98	0.56	1.0		0.85	-0.25	0.98	0.93	0.93	0.93	AMFFX
RNCCX	0.9	0.8	0.86	0.85		0.25	0.89	0.71	0.71	0.71	RNCCX
FPPPX	-0.17	0.27	-0.24	-0.25	0.25		-0.17	-0.45	-0.45	-0.45	FPPPX
AMEFX	1.0	0.65	0.98	0.98	0.89	-0.17		0.91	0.91	0.91	AMEFX
RNGGX	0.91	0.48	0.93	0.93	0.71	-0.45	0.91		1.0	1.0	RNGGX
RNGFX	0.91	0.48	0.93	0.93	0.71	-0.45	0.91	1.0		1.0	RNGFX
RNGHX	0.91	0.48	0.93	0.93	0.71	-0.45	0.91	1.0	1.0		RNGHX
	AMECX	RNEBX	AMFCX	AMFFX	RNCCX	FPPPX	AMEFX	RNGGX	RNGFX	RNGHX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

AMEFX	+ 1.0	AMECX
AMFFX	+ 1.0	AMFCX
RNGFX	+ 1.0	RNGGX
RNGHX	+ 1.0	RNGGX
RNGHX	+ 1.0	RNGFX
AMFCX	+ 0.98	AMECX

High negative correlations

RNGHX	- 0.45	FPPPX
RNGFX	- 0.45	FPPPX
RNGGX	- 0.45	FPPPX
FPPPX	- 0.25	AMFFX
FPPPX	- 0.24	AMFCX
AMEFX	- 0.17	FPPPX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AMECX	0.32	(0.01)	(0.18)	0.10	0.30	(0.36)	0.70	(0.72)	2.01
RNEBX	0.56	(0.07)	0.00	(0.04)	0.00	0.00	1.27	(1.32)	3.78
AMFCX	0.46	(0.02)	(0.12)	0.09	0.42	(0.51)	0.90	(0.88)	2.68
AMFFX	0.46	(0.02)	(0.11)	0.09	0.42	(0.51)	0.91	(0.86)	2.68
RNCCX	0.25	(0.02)	(0.31)	0.05	0.26	(0.28)	0.52	(0.52)	1.42
FPPPX	0.11	(0.01)	0.00	0.43	0.00	0.00	0.21	(0.21)	0.84
AMEFX	0.33	(0.01)	(0.18)	0.10	0.32	(0.37)	0.70	(0.73)	2.01
RNGGX	0.67	(0.04)	(0.04)	0.08	0.96	(0.68)	1.46	(1.96)	4.07
RNGFX	0.67	(0.04)	(0.04)	0.08	0.97	(0.69)	1.47	(1.97)	4.06
RNGHX	0.67	(0.04)	(0.04)	0.08	0.96	(0.68)	1.47	(1.97)	4.07

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC