Capital Group Correlations

CGCP Etf

USD 22.72 0.01 0.04%

The current 90-days correlation between Capital Group Core and T Rowe Price is 0.38 (i.e., Weak 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 unemployment.

Moving together with Capital Etf

0.97	IUSB	iShares Core Total	Pair Corr
0.76	FIXD	First Trust TCW	Pair Corr
0.89	FBND	Fidelity Total Bond	Pair Corr
0.84	TOTL	SPDR DoubleLine Total	Pair Corr
0.76	BNDS	Series Portfolios Trust	Pair Corr
0.91	HTRB	Hartford Total Return	Pair Corr
0.92	GTO	Invesco Total Return	Pair Corr
0.97	EUSB	iShares Trust	Pair Corr
0.92	JCPB	JPMorgan Core Plus	Pair Corr
0.7	MUU	Direxion Daily MU	Pair Corr
0.74	GDXU	MicroSectors Gold Miners	Pair Corr
0.7	MULL	GraniteShares 2x Long	Pair Corr
0.75	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.76	JNUG	Direxion Daily Junior	Pair Corr
0.66	KORU	Direxion Daily South	Pair Corr
0.76	NUGT	Direxion Daily Gold	Pair Corr
0.68	SHNY	Microsectors Gold Trending	Pair Corr
0.74	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.78	SLVR	Sprott Silver Miners	Pair Corr
0.81	PEY	Invesco High Yield	Pair Corr
0.74	GAL	SPDR SSgA Global	Pair Corr
0.61	INTC	Intel	Pair Corr
0.66	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.78	MRK	Merck Company Earnings Call This Week	Pair Corr
0.71	WMT	Walmart Common Stock	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr

Moving against Capital Etf

0.36	DRSK	Aptus Defined Risk	Pair Corr
0.64	HPQ	HP Inc	Pair Corr
0.52	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	IDV	KBWB	FDL	JPIE	BBIN	VGELX	EWZ	SPYI	EWT	TCAF
IDV		0.87	0.67	0.93	0.94	0.73	0.82	0.87	0.79	0.3	IDV
KBWB	0.87		0.55	0.93	0.86	0.36	0.54	0.86	0.58	0.23	KBWB
FDL	0.67	0.55		0.62	0.74	0.44	0.47	0.67	0.74	0.5	FDL
JPIE	0.93	0.93	0.62		0.88	0.56	0.68	0.84	0.64	0.23	JPIE
BBIN	0.94	0.86	0.74	0.88		0.66	0.76	0.86	0.87	0.42	BBIN
VGELX	0.73	0.36	0.44	0.56	0.66		0.9	0.47	0.68	0.21	VGELX
EWZ	0.82	0.54	0.47	0.68	0.76	0.9		0.58	0.71	0.16	EWZ
SPYI	0.87	0.86	0.67	0.84	0.86	0.47	0.58		0.77	0.62	SPYI
EWT	0.79	0.58	0.74	0.64	0.87	0.68	0.71	0.77		0.6	EWT
TCAF	0.3	0.23	0.5	0.23	0.42	0.21	0.16	0.62	0.6		TCAF
	IDV	KBWB	FDL	JPIE	BBIN	VGELX	EWZ	SPYI	EWT	TCAF

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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
IDV	0.53	0.19	0.28	0.42	0.00	(0.60)	1.37	(0.74)	2.47
KBWB	0.84	0.17	0.13	0.58	0.87	(0.94)	2.07	(1.67)	4.76
FDL	0.56	0.13	0.17	0.32	0.27	(0.64)	1.61	(0.96)	2.77
JPIE	0.05	0.01	(0.49)	0.68	0.00	(0.07)	0.13	(0.11)	0.28
BBIN	0.58	0.11	0.09	0.80	0.62	(0.61)	1.30	(1.12)	3.10
VGELX	0.55	0.13	0.12	0.87	0.50	(0.64)	1.23	(1.19)	3.02
EWZ	1.08	0.38	0.20	0.94	1.38	(1.23)	2.83	(1.82)	9.25
SPYI	0.43	0.01	(0.01)	0.07	0.61	(0.40)	0.99	(1.01)	3.00
EWT	0.90	0.10	0.06	0.18	1.20	(0.84)	1.85	(2.17)	4.93
TCAF	0.53	(0.05)	0.00	(0.02)	0.00	0.00	1.06	(1.31)	3.49

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