Capital Income Correlations

Mutual Funds . USA . 
Fund . Capital Income Builder
CIBFX Fund  USD 81.50  0.27  0.33%   
The current 90-days correlation between Capital Income Builder and Europacific Growth Fund is 0.49 (i.e., Very 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 poor diversification

The correlation between Capital Income Builder and DJI is 0.83 (i.e., Very poor 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 price.

Moving together with Capital Mutual Fund

  0.99AMECX Income FundPairCorr
  0.98AMFCX American MutualPairCorr
  0.98AMFFX American MutualPairCorr
  0.69CUSEX Capital Group EquityPairCorr
  0.93AMHIX American High IncomePairCorr
  0.92TEBCX Tax Exempt BondPairCorr
  0.9TECCX Tax Exempt FundPairCorr
  0.91TECFX Tax Exempt FundPairCorr
  0.81AMUSX Us Government SecuritiesPairCorr
  0.97TEPCX American Funds TaxPairCorr
  0.97TEPAX American Funds TaxPairCorr
  0.97TEPFX American Funds TaxPairCorr
  0.95EMGEX Emerging Markets GrowthPairCorr
  0.86ANBEX American Funds StrategicPairCorr
  0.86ANBAX American Funds StrategicPairCorr
  0.82ANBCX American Funds StrategicPairCorr
  0.85ANCFX American Funds FundaPairCorr
  0.73ANFCX New Economy FundPairCorr
  0.74ANEFX New Economy FundPairCorr
  0.74ANFFX New Economy FundPairCorr
  0.95EMRGX Emerging Markets GrowthPairCorr
  0.77NPFCX New PerspectivePairCorr
  0.77NPFFX New PerspectivePairCorr
  0.93CWBFX Capital World BondPairCorr
  0.91CWBCX Capital World BondPairCorr
  0.86PGGAX American Funds GlobalPairCorr
  0.86PGGFX American Funds GlobalPairCorr
  0.78ANWPX New PerspectivePairCorr
  0.92BALFX American BalancedPairCorr
  0.92BALCX American BalancedPairCorr
  0.93CWGIX Capital World GrowthPairCorr
  0.93CWGFX Capital World GrowthPairCorr
  0.93CWGCX Capital World GrowthPairCorr
  0.89WSHFX Washington MutualPairCorr
  0.88WSHCX Washington MutualPairCorr
  0.99FAATX American Funds 2010PairCorr
  0.94FAETX American Funds 2030PairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CIRAX  0.36  0.12  0.10 (1.32) 0.24 
(0.41)
 0.82 
(0.61)
 2.29 
CAIBX  0.36  0.12  0.10 (1.31) 0.24 
(0.40)
 0.80 
(0.62)
 2.30 
RIRGX  0.42  0.18  0.23 (3.00) 0.00 
(0.50)
 0.90 
(0.61)
 5.82 
AMECX  0.34  0.13  0.15 (2.02) 0.07 
(0.40)
 0.78 
(0.62)
 1.97 
IFAFX  0.34  0.13  0.15 (2.03) 0.04 
(0.39)
 0.78 
(0.62)
 1.91 
RIDGX  0.43  0.24  0.37 (1.26) 0.00 
(0.54)
 0.79 
(0.64)
 7.35 
SWPPX  0.58  0.04 (0.03)(0.32) 0.82 
(0.58)
 1.15 
(1.53)
 3.73 
RWICX  0.62  0.14  0.08 (1.11) 0.61 
(0.66)
 1.24 
(1.35)
 3.76 
AEPGX  0.64  0.15  0.09 (1.03) 0.62 
(0.66)
 1.60 
(1.35)
 3.94 
RERHX  0.79  0.29  0.25 (3.82) 0.40 
(0.88)
 1.71 
(1.34)
 12.29 

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