Capital Group Correlations
| CGMS Etf | USD 27.61 0.16 0.58% |
The current 90-days correlation between Capital Group Multi and Capital Group Short is 0.63 (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. If the correlation is 0, the equities are not correlated; they are entirely random.
Capital Group Correlation With Market
Significant diversification
The correlation between Capital Group Multi Sector and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Group Multi Sector and DJI in the same portfolio, assuming nothing else is changed.
Capital |
Moving together with Capital Etf
| 0.62 | AXSAX | Axonic Strategic Income | PairCorr |
| 0.62 | AXSIX | Axonic Strategic Income | PairCorr |
| 0.89 | SMCRX | ALPSSmith Credit Opp | PairCorr |
| 0.84 | SMCVX | ALPSSmith Credit Opp | PairCorr |
| 0.84 | SMCAX | DEUTSCHE MID CAP | PairCorr |
| 0.93 | SMCCX | DEUTSCHE MID CAP | PairCorr |
| 0.83 | JPIE | JP Morgan Exchange | PairCorr |
| 0.75 | MUSI | American Century Mul | PairCorr |
| 0.76 | CA | Xtrackers California | PairCorr |
| 0.69 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
| 0.61 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
Moving against Capital Etf
| 0.42 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
Related Correlations Analysis
| 0.64 | 0.21 | 0.32 | 0.19 | CGSD | ||
| 0.64 | 0.01 | -0.09 | 0.34 | CGMU | ||
| 0.21 | 0.01 | 0.85 | 0.67 | CGGO | ||
| 0.32 | -0.09 | 0.85 | 0.27 | CGDV | ||
| 0.19 | 0.34 | 0.67 | 0.27 | CGXU | ||
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CGSD | 0.08 | 0.00 | (1.03) | (0.18) | 0.00 | 0.16 | 0.43 | |||
| CGMU | 0.15 | 0.01 | (0.37) | 0.04 | 0.26 | 0.30 | 1.84 | |||
| CGGO | 0.68 | (0.09) | (0.12) | 0.01 | 0.97 | 1.46 | 4.60 | |||
| CGDV | 0.51 | (0.03) | (0.08) | 0.08 | 0.56 | 1.11 | 3.27 | |||
| CGXU | 0.74 | (0.13) | 0.00 | (0.08) | 0.00 | 1.78 | 4.76 |