Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Growth
CWGFX Fund  USD 64.68  0.47  0.73%   
The current 90-days correlation between Capital World Growth and Capital Income Builder is 0.59 (i.e., Very weak diversification). The correlation of Capital World 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 World Correlation With Market

Very weak diversification

The correlation between Capital World Growth and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital World Growth 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 World Growth. 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 census.

Moving together with Capital Mutual Fund

  0.95AMECX Income FundPairCorr
  0.9RNEBX New World FundPairCorr
  0.96AMFCX American MutualPairCorr
  0.96AMFFX American MutualPairCorr
  0.92RNCCX American Funds IncomePairCorr
  0.95AMEFX Income FundPairCorr
  0.98RNGGX New Economy FundPairCorr
  0.98RNGFX New Economy FundPairCorr
  0.98RNGHX New Economy FundPairCorr
  0.99RNGBX New Economy FundPairCorr
  0.99RNGAX New Economy FundPairCorr
  0.98RNGEX New Economy FundPairCorr
  0.98RNGCX New Economy FundPairCorr
  0.61AMHIX American High IncomePairCorr
  0.67TEBCX Tax Exempt BondPairCorr
  0.67TECCX Tax Exempt FundPairCorr
  0.92FPTPX American Funds ConsePairCorr
  0.61TECFX Tax Exempt FundPairCorr
  0.98RNNEX New Economy FundPairCorr
  0.79CDJAX American Funds CollegePairCorr
  0.94AMPCX Amcap Fund ClassPairCorr
  0.9AMPFX Amcap Fund ClassPairCorr
  0.9RNPBX New PerspectivePairCorr
  0.9RNPAX New PerspectivePairCorr
  0.89RNPHX New PerspectivePairCorr
  0.89RNPGX New PerspectivePairCorr
  0.9RNPCX New PerspectivePairCorr
  0.89RNPFX New PerspectivePairCorr
  0.89RNPEX New PerspectivePairCorr
  0.96AMRMX American MutualPairCorr
  0.96AMRFX American MutualPairCorr
  0.87RNRPX American Funds RetirementPairCorr
  0.77AMUSX Us Government SecuritiesPairCorr
  0.63TEPCX American Funds TaxPairCorr
  0.9RNWFX New World FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Capital Mutual Fund performing well and Capital World 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 World'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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