Capital World Correlations

Mutual Funds USA . 
Fund . Capital World Growth
CWIAX Fund  USD 68.25  0.36  0.53%   
The current 90-days correlation between Capital World Growth and Massmutual Select T is 0.85 (i.e., Very poor 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

Poor diversification

The correlation between Capital World Growth and DJI is 0.71 (i.e., Poor 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 nation.

Moving together with Capital Mutual Fund

  0.93AMECX Income FundPairCorr
  0.77RNEBX New World FundPairCorr
  0.81AMFCX American MutualPairCorr
  0.81AMFFX American MutualPairCorr
  0.89RNCCX American Funds IncomePairCorr
  0.92AMEFX Income FundPairCorr
  0.8RNGGX New Economy FundPairCorr
  0.87RNGFX New Economy FundPairCorr
  0.8RNGHX New Economy FundPairCorr
  0.87RNGBX New Economy FundPairCorr
  0.87RNGAX New Economy FundPairCorr
  0.87RNGEX New Economy FundPairCorr
  0.87RNGCX New Economy FundPairCorr
  0.84FPTPX American Funds ConsePairCorr
  0.87RNNEX New Economy FundPairCorr
  0.95CDJAX American Funds CollegePairCorr
  0.84AMPCX Amcap Fund ClassPairCorr
  0.84AMPFX Amcap Fund ClassPairCorr
  0.99RNPBX New PerspectivePairCorr
  0.99RNPAX New PerspectivePairCorr
  0.89RNPHX New PerspectivePairCorr
  0.98RNPGX New PerspectivePairCorr
  0.99RNPCX New PerspectivePairCorr
  0.98RNPFX New PerspectivePairCorr
  0.99RNPEX New PerspectivePairCorr
  0.88AMRMX American MutualPairCorr
  0.88AMRFX American MutualPairCorr
  0.86RNRPX American Funds RetirementPairCorr
  0.78RNWFX New World FundPairCorr

Moving against Capital Mutual Fund

  0.37AMUSX Us Government SecuritiesPairCorr
  0.32ANBEX American Funds StrategicPairCorr
  0.32ANBGX American Funds StrategicPairCorr
  0.32ANBAX American Funds StrategicPairCorr
  0.32ANBCX American Funds StrategicPairCorr
  0.31ANBFX American Funds StrategicPairCorr

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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