Capital Income Correlations

Mutual Funds . USA . 
Fund . Capital Income Builder
CIRCX Fund  USD 81.68  0.12  0.15%   
The current 90-days correlation between Capital Income Builder and Ab Small Cap is -0.23 (i.e., Very good 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 0.85 (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 services.

Moving together with Capital Mutual Fund

  0.9RNEBX New World FundPairCorr
  0.97RNCCX American Funds IncomePairCorr
  0.92FPPPX American Funds PresePairCorr
  0.93TEAFX Tax Exempt BondPairCorr
  0.94FPTPX American Funds ConsePairCorr
  0.9TEFEX Tax Exempt FundPairCorr
  0.85CDJAX American Funds CollegePairCorr
  0.78RNPBX New PerspectivePairCorr
  0.79RNPFX New PerspectivePairCorr
  0.79RNPEX New PerspectivePairCorr
  0.95AMRFX American MutualPairCorr
  0.63RNRPX American Funds RetirementPairCorr
  0.95RNWFX New World FundPairCorr
  0.64RNWEX New World FundPairCorr
  0.63RNWHX New World FundPairCorr
  0.64RNWGX New World FundPairCorr
  0.95RNWBX New World FundPairCorr
  0.95RNWAX New World FundPairCorr
  0.95RNWCX New World FundPairCorr
  0.96CDWEX American Funds DevelopingPairCorr
  0.96CDWFX American Funds DevelopingPairCorr
  0.62CDWCX American Funds DevelopingPairCorr
  0.94CDWAX American Funds DevelopingPairCorr
  0.87ANBGX American Funds StrategicPairCorr
  0.87ANBFX American Funds StrategicPairCorr
  0.9CEAMX Short Term BondPairCorr

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.

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