Capital Income Correlations

CIBCX Fund

USD 78.30 0.44 0.57%

The current 90-days correlation between Capital Income Builder and John Hancock Financial is 0.37 (i.e., Weak diversification). The correlation of Capital Income 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 Income Correlation With Market

Very weak diversification

The correlation between Capital Income Builder 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 Income Builder 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 Income Builder. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Capital Mutual Fund

0.94	AMECX	Income Fund	Pair Corr
0.96	AMFCX	American Mutual	Pair Corr
0.96	AMFFX	American Mutual	Pair Corr
0.94	CUSEX	Capital Group Equity	Pair Corr
0.93	AMPCX	Amcap Fund Class	Pair Corr
0.93	AMPFX	Amcap Fund Class	Pair Corr
0.74	TEPCX	American Funds Tax	Pair Corr
0.75	TEPAX	American Funds Tax	Pair Corr
0.77	TEPFX	American Funds Tax	Pair Corr
0.81	ANCFX	American Funds Funda	Pair Corr
0.95	ANFCX	New Economy Fund	Pair Corr
0.96	ANEFX	New Economy Fund	Pair Corr
0.96	ANFFX	New Economy Fund	Pair Corr
0.96	NPFCX	New Perspective	Pair Corr
0.96	NPFFX	New Perspective	Pair Corr
0.96	ANWPX	New Perspective	Pair Corr
0.86	BALFX	American Balanced	Pair Corr
0.96	BALCX	American Balanced	Pair Corr
0.96	CWGIX	Capital World Growth	Pair Corr
0.96	CWGFX	Capital World Growth	Pair Corr
0.96	CWGCX	Capital World Growth	Pair Corr
0.82	WSHFX	Washington Mutual	Pair Corr
0.99	WSHCX	Washington Mutual	Pair Corr
0.9	FAATX	American Funds 2010	Pair Corr
0.85	FAETX	American Funds 2030	Pair Corr

Moving against Capital Mutual Fund

0.65

AMRMX

American Mutual

Pair Corr

Related Correlations Analysis

	BTO	FAFDX	FIKBX	FTIXX	XFINX	PSSRX	RMBLX
BTO		0.79	0.79	0.0	0.62	0.76	0.83	BTO
FAFDX	0.79		1.0	0.0	0.48	1.0	0.92	FAFDX
FIKBX	0.79	1.0		0.0	0.48	1.0	0.92	FIKBX
FTIXX	0.0	0.0	0.0		0.0	0.0	0.0	FTIXX
XFINX	0.62	0.48	0.48	0.0		0.45	0.64	XFINX
PSSRX	0.76	1.0	1.0	0.0	0.45		0.89	PSSRX
RMBLX	0.83	0.92	0.92	0.0	0.64	0.89		RMBLX
	BTO	FAFDX	FIKBX	FTIXX	XFINX	PSSRX	RMBLX

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

FIKBX	+ 1.0	FAFDX
PSSRX	+ 1.0	FAFDX
PSSRX	+ 1.0	FIKBX
RMBLX	+ 0.92	FAFDX
RMBLX	+ 0.92	FIKBX
RMBLX	+ 0.89	PSSRX

High negative correlations

RMBLX	- 0.0	FTIXX
PSSRX	- 0.0	FTIXX
XFINX	- 0.0	FTIXX
FTIXX	- 0.0	FIKBX
FTIXX	- 0.0	FAFDX
FTIXX	- 0.0	BTO

Risk-Adjusted Indicators

There is a big difference between Capital Mutual Fund performing well and Capital Income Mutual Fund 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 Income'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
BTO	0.98	(0.04)	(0.02)	0.05	1.57	(0.92)	1.91	(2.10)	7.11
FAFDX	0.79	0.10	0.09	0.18	0.91	(0.86)	1.78	(1.67)	7.84
FIKBX	0.80	0.10	0.09	0.18	0.90	(0.86)	1.80	(1.63)	7.65
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XFINX	0.15	(0.01)	(0.25)	(0.03)	0.27	(0.15)	0.22	(0.43)	1.44
PSSRX	0.93	0.13	0.13	0.19	0.84	(1.07)	1.90	(1.74)	12.53
RMBLX	1.05	0.16	0.11	0.25	1.13	(1.17)	3.00	(1.58)	7.72

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