Capital Group Correlations

CGCP Etf

USD 22.40 0.03 0.13%

The current 90-days correlation between Capital Group Core and First Trust Low is 0.81 (i.e., Very poor 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 Core and DJI is -0.06 (i.e., Good 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.

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 main economic indicators.

Moving together with Capital Etf

1.0	IUSB	iShares Core Total	Pair Corr
0.99	FIXD	First Trust TCW	Pair Corr
0.99	FBND	Fidelity Total Bond	Pair Corr
0.99	TOTL	SPDR DoubleLine Total	Pair Corr
0.99	HTRB	Hartford Total Return	Pair Corr
0.99	GTO	Invesco Total Return	Pair Corr
0.99	EUSB	iShares Trust	Pair Corr
1.0	JCPB	JPMorgan Core Plus	Pair Corr
0.99	VBND	Vident Core Bond	Pair Corr
0.63	PG	Procter Gamble	Pair Corr
0.86	KO	Coca Cola Aggressive Push	Pair Corr
0.68	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Moving against Capital Etf

0.85	RSPY	Tuttle Capital Management	Pair Corr
0.83	MEME	Roundhill Investments	Pair Corr
0.8	DSJA	DSJA	Pair Corr
0.54	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.47	ITWO	Proshares Russell 2000 Low Volatility	Pair Corr
0.43	T	ATT Inc Aggressive Push	Pair Corr
0.86	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.78	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.78	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.69	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.63	DIS	Walt Disney	Pair Corr
0.61	WMT	Walmart Aggressive Push	Pair Corr
0.46	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.34	HD	Home Depot	Pair Corr

Related Correlations Analysis

	LMBS	FTSM	HYLS	FMB	FTSL
LMBS		-0.21	0.44	0.87	-0.38	LMBS
FTSM	-0.21		0.73	-0.2	0.95	FTSM
HYLS	0.44	0.73		0.38	0.64	HYLS
FMB	0.87	-0.2	0.38		-0.34	FMB
FTSL	-0.38	0.95	0.64	-0.34		FTSL
	LMBS	FTSM	HYLS	FMB	FTSL

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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

FTSL	+ 0.95	FTSM
FMB	+ 0.87	LMBS
HYLS	+ 0.73	FTSM
FTSL	+ 0.64	HYLS
HYLS	+ 0.44	LMBS
FMB	+ 0.38	HYLS

High negative correlations

FTSL	- 0.38	LMBS
FTSL	- 0.34	FMB
FTSM	- 0.21	LMBS
FMB	- 0.2	FTSM

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
LMBS	0.12	(0.01)	(0.68)	0.73	0.17	(0.12)	0.23	(0.33)	0.88
FTSM	0.03	0.01	(3.65)	(2.05)	0.00	(0.04)	0.07	(0.03)	0.13
HYLS	0.14	0.00	(0.53)	0.15	0.11	(0.14)	0.32	(0.31)	0.84
FMB	0.16	0.01	(0.42)	0.05	0.27	(0.16)	0.33	(0.33)	1.54
FTSL	0.07	0.02	(0.60)	0.53	0.00	(0.09)	0.18	(0.11)	0.88

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