Capital Group Correlations

CGMS Etf

USD 27.59 0.06 0.22%

The current 90-days correlation between Capital Group Multi and iShares ESG Aware is 0.65 (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

Very poor diversification

The correlation between Capital Group Multi Sector and DJI is 0.81 (i.e., Very poor 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.

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 Multi Sector. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Capital Etf

0.91	AXSIX	Axonic Strategic Income	Pair Corr
0.88	AXSAX	Axonic Strategic Income	Pair Corr
0.86	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.83	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.87	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.86	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.97	JPIE	JP Morgan Exchange Sell-off Trend	Pair Corr
0.96	AFIF	Anfield Universal Fixed	Pair Corr
0.95	MUSI	American Century Mul	Pair Corr
0.94	SIO	Touchstone Strategic	Pair Corr
0.92	KORU	Direxion Daily South	Pair Corr
0.9	MUU	Direxion Daily MU	Pair Corr
0.9	MULL	GraniteShares 2x Long	Pair Corr
0.73	GDXU	MicroSectors Gold Miners	Pair Corr
0.89	FNGD	MicroSectors FANG Index	Pair Corr
0.8	JNUG	Direxion Daily Junior	Pair Corr
0.82	NUGT	Direxion Daily Gold	Pair Corr
0.78	BWET	ETF Managers Group	Pair Corr
0.79	SHNY	Microsectors Gold	Pair Corr
0.84	WCEO	Hypatia Women Ceo	Pair Corr
0.96	GCAL	Goldman Sachs ETF	Pair Corr
0.94	DFE	WisdomTree Europe	Pair Corr
0.8	UAUG	Innovator Equity Ultra	Pair Corr
0.96	JEPI	JPMorgan Equity Premium	Pair Corr
0.93	DVYE	iShares Emerging Markets	Pair Corr
0.73	GOCT	FT Cboe Vest	Pair Corr
0.9	IJS	iShares SP Small	Pair Corr
0.95	DWM	WisdomTree International	Pair Corr
0.83	DIA	SPDR Dow Jones	Pair Corr
0.9	QTAP	Innovator Growth 100	Pair Corr
0.89	IGEB	iShares Edge Investment	Pair Corr
0.95	AVDS	Avantis International	Pair Corr
0.92	FNDA	Schwab Fundamental Small	Pair Corr
0.89	QLV	FlexShares Quality Low	Pair Corr
0.65	SLV	iShares Silver Trust	Pair Corr
0.79	USO	United States Oil	Pair Corr
0.93	UEVM	VictoryShares Emerging	Pair Corr
0.87	NDIV	Amplify ETF Trust	Pair Corr

Moving against Capital Etf

0.63

ENTR

EntrepreneurShares

Pair Corr

Related Correlations Analysis

	IQRA	AVIE	BERZ	JPAN	ISHP	ESIX	NSCR	INDH	LMBO	EAOM
IQRA		0.96	0.64	0.93	-0.87	0.78	-0.48	-0.49	-0.8	0.87	IQRA
AVIE	0.96		0.52	0.93	-0.78	0.87	-0.35	-0.63	-0.79	0.91	AVIE
BERZ	0.64	0.52		0.46	-0.84	0.33	-0.86	-0.01	-0.69	0.32	BERZ
JPAN	0.93	0.93	0.46		-0.68	0.89	-0.27	-0.49	-0.69	0.94	JPAN
ISHP	-0.87	-0.78	-0.84	-0.68		-0.53	0.76	0.27	0.82	-0.57	ISHP
ESIX	0.78	0.87	0.33	0.89	-0.53		-0.18	-0.57	-0.64	0.87	ESIX
NSCR	-0.48	-0.35	-0.86	-0.27	0.76	-0.18		0.08	0.48	-0.13	NSCR
INDH	-0.49	-0.63	-0.01	-0.49	0.27	-0.57	0.08		0.33	-0.53	INDH
LMBO	-0.8	-0.79	-0.69	-0.69	0.82	-0.64	0.48	0.33		-0.61	LMBO
EAOM	0.87	0.91	0.32	0.94	-0.57	0.87	-0.13	-0.53	-0.61		EAOM
	IQRA	AVIE	BERZ	JPAN	ISHP	ESIX	NSCR	INDH	LMBO	EAOM

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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

AVIE	+ 0.96	IQRA
EAOM	+ 0.94	JPAN
JPAN	+ 0.93	IQRA
JPAN	+ 0.93	AVIE
EAOM	+ 0.91	AVIE
ESIX	+ 0.89	JPAN

High negative correlations

ISHP	- 0.87	IQRA
NSCR	- 0.86	BERZ
ISHP	- 0.84	BERZ
LMBO	- 0.8	IQRA
LMBO	- 0.79	AVIE
ISHP	- 0.78	AVIE

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
IQRA	0.44	0.11	0.13	0.39	0.40	(0.46)	0.81	(1.00)	2.57
AVIE	0.49	0.21	0.31	(9.67)	0.00	(0.56)	1.49	(0.67)	2.96
BERZ	3.40	0.00	0.00	0.04	3.87	(4.04)	8.97	(6.75)	24.13
JPAN	0.83	0.11	0.08	0.17	1.00	(0.90)	2.17	(1.58)	6.82
ISHP	0.78	(0.11)	0.00	0.84	0.00	0.00	1.32	(2.11)	5.27
ESIX	0.83	0.05	0.05	0.08	0.91	(0.96)	1.93	(1.78)	6.36
NSCR	0.59	0.01	(0.04)	0.00	0.81	(0.59)	1.01	(1.36)	3.91
INDH	0.58	(0.11)	0.00	(0.16)	0.00	0.00	0.93	(1.45)	4.08
LMBO	4.89	(0.42)	0.00	(0.07)	0.00	0.00	11.00	(9.26)	28.13
EAOM	0.24	0.01	(0.05)	0.06	0.29	(0.25)	0.55	(0.47)	1.52

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