Capital Group Correlations

CGCP Etf

USD 22.88 0.02 0.09%

The current 90-days correlation between Capital Group Core and iShares MSCI USA is -0.18 (i.e., 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

Poor diversification

The correlation between Capital Group Core and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group Core and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Capital Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Capital Group Core. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with Capital Etf

0.98	IUSB	iShares Core Total	Pair Corr
0.95	FIXD	First Trust TCW	Pair Corr
0.95	FBND	Fidelity Total Bond	Pair Corr
0.97	TOTL	SPDR DoubleLine Total	Pair Corr
0.89	BNDS	Series Portfolios Trust	Pair Corr
0.96	HTRB	Hartford Total Return	Pair Corr
0.99	GTO	Invesco Total Return	Pair Corr
0.98	EUSB	iShares Trust	Pair Corr
0.98	JCPB	JPMorgan Core Plus	Pair Corr
0.75	ITWO	Proshares Russell 2000	Pair Corr
0.79	AMPD	Tidal ETF Services	Pair Corr
0.64	FXC	Invesco CurrencyShares	Pair Corr
0.73	WDNA	WisdomTree BioRevolution Low Volatility	Pair Corr
0.81	PFF	iShares Preferred	Pair Corr
0.89	VGUS	Vanguard Ultra Short	Pair Corr
0.84	TOCT	Innovator Equity Defined	Pair Corr
0.84	LSEQ	Harbor ETF Trust	Pair Corr
0.94	TAXT	Northern Trust Tax	Pair Corr
0.82	XYLD	Global X SP	Pair Corr
0.92	SCDV	ETF Series Solutions	Pair Corr
0.86	DOGG	First Trust Exchange	Pair Corr
0.9	GENW	Spinnaker ETF Series	Pair Corr

Moving against Capital Etf

0.42

DRSK

Aptus Defined Risk

Pair Corr

Related Correlations Analysis

	LCTU	ARKF	BAFE	FDLO	LIT	BLOK	GSEW	QVML	EUSA
LCTU		0.04	0.9	0.8	0.08	0.42	0.8	0.98	0.21	LCTU
ARKF	0.04		0.34	-0.47	-0.56	0.75	-0.47	-0.15	-0.57	ARKF
BAFE	0.9	0.34		0.54	-0.05	0.61	0.61	0.82	0.07	BAFE
FDLO	0.8	-0.47	0.54		0.26	0.01	0.88	0.88	0.36	FDLO
LIT	0.08	-0.56	-0.05	0.26		-0.19	0.46	0.21	0.91	LIT
BLOK	0.42	0.75	0.61	0.01	-0.19		0.06	0.28	-0.22	BLOK
GSEW	0.8	-0.47	0.61	0.88	0.46	0.06		0.88	0.57	GSEW
QVML	0.98	-0.15	0.82	0.88	0.21	0.28	0.88		0.33	QVML
EUSA	0.21	-0.57	0.07	0.36	0.91	-0.22	0.57	0.33		EUSA
	LCTU	ARKF	BAFE	FDLO	LIT	BLOK	GSEW	QVML	EUSA

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

QVML	+ 0.98	LCTU
EUSA	+ 0.91	LIT
BAFE	+ 0.9	LCTU
GSEW	+ 0.88	FDLO
QVML	+ 0.88	FDLO
QVML	+ 0.88	GSEW

High negative correlations

EUSA	- 0.57	ARKF
LIT	- 0.56	ARKF
GSEW	- 0.47	ARKF
FDLO	- 0.47	ARKF
EUSA	- 0.22	BLOK
BLOK	- 0.19	LIT

Capital Group Constituents Risk-Adjusted Indicators

There is a big difference between Capital Etf performing well and Capital Group ETF 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LCTU	0.56	0.03	(0.05)	(0.20)	0.76	(0.54)	1.02	(1.25)	4.10
ARKF	1.60	(0.38)	0.00	(12.11)	0.00	0.00	3.37	(4.16)	9.56
BAFE	0.63	0.03	(0.05)	(0.18)	0.78	(0.67)	1.27	(1.35)	3.58
FDLO	0.42	0.05	(0.03)	(0.30)	0.51	(0.43)	0.93	(0.81)	2.95
LIT	1.32	0.31	0.14	(311.96)	1.53	(1.46)	2.62	(2.71)	8.60
BLOK	1.97	(0.15)	0.00	(0.79)	0.00	0.00	4.13	(4.33)	12.80
GSEW	0.60	0.11	0.05	(1.24)	0.63	(0.71)	1.26	(1.41)	4.05
QVML	0.52	0.04	(0.04)	(0.26)	0.73	(0.52)	0.99	(1.21)	3.67
EUSA	0.55	0.08	0.01	(0.55)	0.58	(0.63)	1.22	(1.02)	3.68

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