Capital Group Correlations

CGIC Etf

25.28 0.30 1.20%

The current 90-days correlation between Capital Group Intern and Davis Select International is 0.78 (i.e., 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.

Capital Group Correlation With Market

Weak diversification

The correlation between Capital Group International and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group International 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 International. 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	VEA	Vanguard FTSE Developed	Pair Corr
0.89	IEFA	iShares Core MSCI Low Volatility	Pair Corr
0.98	VEU	Vanguard FTSE All	Pair Corr
0.97	EFA	iShares MSCI EAFE Aggressive Push	Pair Corr
0.97	IXUS	iShares Core MSCI	Pair Corr
0.95	SPDW	SPDR SP World	Pair Corr
0.94	IDEV	iShares Core MSCI	Pair Corr
0.96	ESGD	iShares ESG Aware	Pair Corr
0.97	JIRE	JP Morgan Exchange	Pair Corr
0.86	DFAX	Dimensional World	Pair Corr
0.65	BKT	BlackRock Income Closed	Pair Corr
0.68	JNJ	Johnson Johnson	Pair Corr
0.64	KO	Coca Cola Earnings Call This Week	Pair Corr
0.63	CAT	Caterpillar Earnings Call This Week	Pair Corr

Moving against Capital Etf

0.48	BITO	ProShares Bitcoin	Pair Corr
0.46	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.43	SGG	Barclays Capital	Pair Corr
0.39	FNGO	MicroSectors FANG Index	Pair Corr

Related Correlations Analysis

	DINT	DIVY	PY	XC	MGMT	VFMV	VFVA	DSMC	DSTX
DINT		0.56	0.16	0.87	-0.24	0.31	0.34	0.35	0.74	DINT
DIVY	0.56		0.84	0.44	0.46	0.89	0.9	0.86	0.45	DIVY
PY	0.16	0.84		0.06	0.81	0.96	0.94	0.91	0.09	PY
XC	0.87	0.44	0.06		-0.29	0.18	0.19	0.23	0.73	XC
MGMT	-0.24	0.46	0.81	-0.29		0.75	0.68	0.71	-0.31	MGMT
VFMV	0.31	0.89	0.96	0.18	0.75		0.94	0.95	0.13	VFMV
VFVA	0.34	0.9	0.94	0.19	0.68	0.94		0.97	0.21	VFVA
DSMC	0.35	0.86	0.91	0.23	0.71	0.95	0.97		0.12	DSMC
DSTX	0.74	0.45	0.09	0.73	-0.31	0.13	0.21	0.12		DSTX
	DINT	DIVY	PY	XC	MGMT	VFMV	VFVA	DSMC	DSTX

Click cells to compare fundamentals

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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

DSMC	+ 0.97	VFVA
VFMV	+ 0.96	PY
DSMC	+ 0.95	VFMV
VFVA	+ 0.94	PY
VFVA	+ 0.94	VFMV
DSMC	+ 0.91	PY

High negative correlations

DSTX	- 0.31	MGMT
MGMT	- 0.29	XC
MGMT	- 0.24	DINT

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
DINT	0.84	(0.12)	0.00	(0.22)	0.00	0.00	1.70	(2.09)	7.17
DIVY	0.60	(0.04)	0.00	(0.06)	0.00	0.00	1.18	(1.22)	5.22
PY	0.57	0.00	(0.07)	0.07	0.66	(0.66)	1.20	(0.88)	6.04
XC	0.64	(0.11)	0.00	(0.31)	0.00	0.00	1.09	(1.40)	4.47
MGMT	0.82	0.14	0.09	0.38	0.85	(0.94)	1.99	(1.31)	10.23
VFMV	0.49	(0.01)	(0.09)	0.05	0.59	(0.55)	0.87	(0.99)	4.32
VFVA	0.73	0.02	(0.03)	0.12	0.81	(0.84)	1.38	(1.06)	8.69
DSMC	0.72	0.00	(0.05)	0.07	0.83	(0.86)	1.61	(1.38)	7.63
DSTX	0.56	(0.04)	0.00	(0.06)	0.00	0.00	1.17	(1.22)	4.06

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