Capital Income Correlations

Mutual Funds USA . 
Fund . Capital Income Builder
CIREX Fund  USD 81.46  0.06  0.07%   
The current 90-days correlation between Capital Income Builder and Prudential High Yield is 0.33 (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 poor diversification

The correlation between Capital Income Builder and DJI is 0.89 (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 discontinued.

Moving together with Capital Mutual Fund

  0.98RNEBX New World FundPairCorr
  0.96RNCCX American Funds IncomePairCorr
  0.93FPPPX American Funds PresePairCorr
  0.97AMEFX Income FundPairCorr
  0.93RNGGX New Economy FundPairCorr
  0.93RNGFX New Economy FundPairCorr
  0.93RNGHX New Economy FundPairCorr
  0.92RNGBX New Economy FundPairCorr
  0.92RNGAX New Economy FundPairCorr
  0.92RNGEX New Economy FundPairCorr
  0.92RNGCX New Economy FundPairCorr
  0.86TEAFX Tax Exempt BondPairCorr
  0.96FPTPX American Funds ConsePairCorr
  0.82TEFEX Tax Exempt FundPairCorr
  0.83RNNEX New Economy FundPairCorr
  0.93CDJAX American Funds CollegePairCorr
  0.95RNPBX New PerspectivePairCorr
  0.95RNPAX New PerspectivePairCorr
  0.95RNPHX New PerspectivePairCorr
  0.95RNPGX New PerspectivePairCorr
  0.95RNPCX New PerspectivePairCorr
  0.95RNPFX New PerspectivePairCorr
  0.95RNPEX New PerspectivePairCorr
  0.97AMRFX American MutualPairCorr
  0.96RNRPX American Funds RetirementPairCorr
  0.98RNWFX New World FundPairCorr
  0.98RNWEX New World FundPairCorr
  0.98RNWHX New World FundPairCorr
  0.98RNWGX New World FundPairCorr
  0.98RNWBX New World FundPairCorr
  0.98RNWAX New World FundPairCorr
  0.98RNWCX New World FundPairCorr
  0.91CDWEX American Funds DevelopingPairCorr
  0.91CDWFX American Funds DevelopingPairCorr
  0.91CDWCX American Funds DevelopingPairCorr
  0.88CDWAX American Funds DevelopingPairCorr
  0.82ANBGX American Funds StrategicPairCorr
  0.81ANBFX American Funds StrategicPairCorr
  0.87CEAMX Short Term BondPairCorr
  0.86TFEBX Tax Exempt 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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