Capital Income Correlations

Mutual Funds . USA . 
Fund . Capital Income Builder
CIRFX Fund  USD 82.10  0.16  0.20%   
The current 90-days correlation between Capital Income Builder and New Economy Fund is 0.69 (i.e., Poor 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 0.82 (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

  0.91RNEBX New World FundPairCorr
  0.99RNCCX American Funds IncomePairCorr
  0.94FPPPX American Funds PresePairCorr
  0.89AMEFX Income FundPairCorr
  0.68RNGGX New Economy FundPairCorr
  0.68RNGFX New Economy FundPairCorr
  0.69RNGHX New Economy FundPairCorr
  0.66RNGBX New Economy FundPairCorr
  0.66RNGAX New Economy FundPairCorr
  0.68RNGEX New Economy FundPairCorr
  0.67RNGCX New Economy FundPairCorr
  0.95TEAFX Tax Exempt BondPairCorr
  0.95FPTPX American Funds ConsePairCorr
  0.94TEFEX Tax Exempt FundPairCorr
  0.67RNNEX New Economy FundPairCorr
  0.81CDJAX American Funds CollegePairCorr
  0.7RNPBX New PerspectivePairCorr
  0.7RNPAX New PerspectivePairCorr
  0.72RNPHX New PerspectivePairCorr
  0.72RNPGX New PerspectivePairCorr
  0.71RNPCX New PerspectivePairCorr
  0.72RNPFX New PerspectivePairCorr
  0.71RNPEX New PerspectivePairCorr
  0.98AMRFX American MutualPairCorr
  0.94RNRPX American Funds RetirementPairCorr
  0.96RNWFX New World FundPairCorr
  0.96RNWEX New World FundPairCorr
  0.91RNWHX New World FundPairCorr
  0.96RNWGX New World FundPairCorr
  0.68RNWBX New World FundPairCorr
  0.96RNWAX New World FundPairCorr
  0.96RNWCX New World FundPairCorr
  0.97CDWEX American Funds DevelopingPairCorr
  0.97CDWFX American Funds DevelopingPairCorr
  0.97CDWCX American Funds DevelopingPairCorr
  0.97CDWAX American Funds DevelopingPairCorr
  0.9ANBFX American Funds StrategicPairCorr
  0.91CEAMX Short Term BondPairCorr
  0.95TFEBX 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RNEBX  0.68  0.22  0.27  0.41  0.08 
(0.77)
 1.60 
(1.03)
 7.64 
RNCCX  0.24  0.06  0.01  0.25  0.00 
(0.28)
 0.56 
(0.42)
 1.62 
FPPPX  0.07  0.01 (0.55)(0.47) 0.00 
(0.12)
 0.11 
(0.11)
 0.52 
AMEFX  0.41  0.22  0.38  0.66  0.00 
(0.52)
 0.79 
(0.62)
 7.41 
RNGGX  0.78  0.08  0.06  0.18  0.91 
(0.76)
 1.71 
(1.58)
 4.53 
RNGFX  0.79  0.08  0.06  0.17  0.96 
(0.75)
 1.72 
(1.58)
 4.52 
RNGHX  0.93  0.27  0.20  0.52  0.69 
(1.00)
 1.81 
(1.58)
 12.70 
RNGBX  0.79  0.08  0.05  0.17  0.97 
(0.75)
 1.71 
(1.58)
 4.53 
RNGAX  0.78  0.08  0.06  0.17  0.94 
(0.76)
 1.71 
(1.58)
 4.53 
RNGEX  0.79  0.08  0.06  0.17  0.96 
(0.75)
 1.70 
(1.57)
 4.54 

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