Capital Group Correlations

CGIB Etf

25.61 0.08 0.31%

The current 90-days correlation between Capital Group Fixed and KraneShares MSCI Emerging is -0.06 (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.

Capital Group Correlation With Market

Very weak diversification

The correlation between Capital Group Fixed and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group Fixed 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 Fixed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Capital Etf

0.96	IAGG	iShares Core Interna	Pair Corr
0.95	BNDW	Vanguard Total World	Pair Corr
0.93	JPIB	JPMorgan International	Pair Corr
0.94	BGRN	iShares USD Green	Pair Corr
0.98	FLIA	Franklin Liberty Int	Pair Corr
0.68	JNUG	Direxion Daily Junior	Pair Corr
0.72	NUGT	Direxion Daily Gold	Pair Corr
0.71	GDMN	WisdomTree Efficient Gold	Pair Corr
0.92	KORU	Direxion Daily South	Pair Corr
0.7	DGP	DB Gold Double	Pair Corr
0.76	RNMC	First Trust Mid	Pair Corr
0.87	CNAV	Mohr Company	Pair Corr
0.79	DFLV	Dimensional ETF Trust	Pair Corr
0.74	FNDA	Schwab Fundamental Small	Pair Corr
0.94	HISF	First Trust High	Pair Corr
0.74	FNX	First Trust Mid	Pair Corr
0.84	EDGI	Advisors Inner	Pair Corr
0.64	MFVL	Motley Fool Value	Pair Corr
0.87	USO	United States Oil	Pair Corr
0.83	XFIX	Fm Investments Symbol Change	Pair Corr
0.93	VFMV	Vanguard Minimum Vol	Pair Corr
0.79	IYM	iShares Basic Materials	Pair Corr
0.71	HYP	Golden Eagle Dynamic	Pair Corr
0.89	WEEI	Westwood Salient Enhanced	Pair Corr
0.89	ROMO	Strategy Shares Newf	Pair Corr
0.84	DWM	WisdomTree International	Pair Corr
0.81	DOGG	First Trust Exchange	Pair Corr
0.85	HFMF	Unlimited HFMF Managed	Pair Corr
0.91	ENFR	Alerian Energy Infra	Pair Corr
0.95	FOPC	Advisors Inner	Pair Corr
0.81	FPAS	FPA Short Duration	Pair Corr
0.87	UCO	ProShares Ultra Bloomberg	Pair Corr
0.77	CLOC	ETF Series Solutions	Pair Corr

Moving against Capital Etf

0.75

BULZ

MicroSectors Solactive

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.09	-0.11	-0.05	0.14	-0.2	-0.05	0.11	-0.01	0.15	META
MSFT	-0.09		0.84	-0.59	-0.87	0.84	0.94	0.44	-0.92	-0.95	MSFT
UBER	-0.11	0.84		-0.54	-0.77	0.87	0.77	0.27	-0.82	-0.83	UBER
F	-0.05	-0.59	-0.54		0.35	-0.46	-0.5	-0.19	0.64	0.59	F
T	0.14	-0.87	-0.77	0.35		-0.76	-0.85	-0.37	0.79	0.8	T
A	-0.2	0.84	0.87	-0.46	-0.76		0.75	0.44	-0.77	-0.86	A
CRM	-0.05	0.94	0.77	-0.5	-0.85	0.75		0.58	-0.86	-0.93	CRM
JPM	0.11	0.44	0.27	-0.19	-0.37	0.44	0.58		-0.29	-0.47	JPM
MRK	-0.01	-0.92	-0.82	0.64	0.79	-0.77	-0.86	-0.29		0.93	MRK
XOM	0.15	-0.95	-0.83	0.59	0.8	-0.86	-0.93	-0.47	0.93		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.94	MSFT
XOM	+ 0.93	MRK
A	+ 0.87	UBER
UBER	+ 0.84	MSFT
A	+ 0.84	MSFT
XOM	+ 0.8	T

High negative correlations

XOM	- 0.95	MSFT
XOM	- 0.93	CRM
MRK	- 0.92	MSFT
T	- 0.87	MSFT
MRK	- 0.86	CRM
XOM	- 0.86	A

Capital Group Competition 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
META	1.47	0.07	0.03	0.12	1.58	(1.57)	2.38	(2.81)	13.69
MSFT	1.33	(0.28)	0.00	(0.60)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.55	(0.17)	0.00	(0.34)	0.00	0.00	2.70	(3.82)	11.09
F	1.31	(0.03)	0.00	1.61	0.00	0.00	3.61	(2.59)	9.82
T	1.07	0.20	0.14	(0.72)	0.94	(1.26)	3.87	(1.76)	7.44
A	1.22	(0.40)	0.00	(0.38)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.78	(0.27)	0.00	(0.21)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.25	(0.09)	0.00	(0.02)	0.00	0.00	2.34	(3.11)	8.17
MRK	1.20	0.21	0.13	0.55	1.27	(1.26)	2.54	(2.06)	7.10
XOM	1.34	0.41	0.26	3.02	1.14	(1.59)	2.90	(2.44)	6.83

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