Capital World Correlations

Mutual Funds . USA . 
Fund . Capital World Bond
RCWGX Fund  USD 15.95  0.01  0.06%   
The current 90-days correlation between Capital World Bond and Templeton Global Bond is -0.1 (i.e., Good 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

Good diversification

The correlation between Capital World Bond and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital World Bond and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Capital World Bond. 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

  0.85FPPPX American Funds PresePairCorr
  0.98AMUSX Us Government SecuritiesPairCorr
  0.97ANBEX American Funds StrategicPairCorr
  0.98CWBFX Capital World BondPairCorr
  0.97CFAAX Bond FundPairCorr
  0.98CGTCX Us Government SecuritiesPairCorr

Moving against Capital Mutual Fund

  0.68ANCFX American Funds FundaPairCorr
  0.62RNNEX New Economy FundPairCorr
  0.5AMFFX American MutualPairCorr
  0.49AMFCX American MutualPairCorr
  0.47BALFX American BalancedPairCorr
  0.46BALCX American BalancedPairCorr
  0.43AMECX Income FundPairCorr
  0.36RNPGX New PerspectivePairCorr
  0.32CWGCX Capital World GrowthPairCorr
  0.75FAFGX American FundsPairCorr
  0.75GFACX Growth FundPairCorr
  0.75CGFCX Growth FundPairCorr
  0.75CGFAX Growth FundPairCorr
  0.73GFAFX Growth FundPairCorr
  0.73CGFEX Growth FundPairCorr
  0.73CGFFX Growth FundPairCorr
  0.65CFNAX American Funds FundaPairCorr
  0.64GWPAX American Funds GrowthPairCorr
  0.61GWPFX American Funds GrowthPairCorr
  0.6GWPCX American Funds GrowthPairCorr
  0.52FBAFX American Funds AmericanPairCorr
  0.52FBONX American Funds AmericanPairCorr
  0.4RPEBX New PerspectivePairCorr
  0.35CWIFX Capital World GrowthPairCorr
  0.64CGRGX American Funds GrowthPairCorr
  0.64RAEBX Amcap Fund ClassPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FGBRX  0.47 (0.12) 0.00 (1.27) 0.00 
 0.00 
 0.82 
(0.95)
 2.77 
FBNRX  0.47 (0.11) 0.00  6.77  0.00 
 0.00 
 0.73 
(0.94)
 2.98 
FCWBX  0.27 (0.07) 0.00 (1.21) 0.00 
 0.00 
 0.43 
(0.56)
 1.78 
RCWBX  0.26 (0.07) 0.00 (1.16) 0.00 
 0.00 
 0.44 
(0.57)
 1.74 
CCWFX  0.26 (0.06) 0.00  1.08  0.00 
 0.00 
 0.44 
(0.50)
 1.85 
CCWCX  0.26 (0.06) 0.00  1.23  0.00 
 0.00 
 0.44 
(0.50)
 1.79 
RCWEX  0.25 (0.06) 0.00  1.08  0.00 
 0.00 
 0.43 
(0.50)
 1.78 
CCWEX  0.26 (0.06) 0.00  1.19  0.00 
 0.00 
 0.44 
(0.56)
 1.78 
RCWCX  0.27 (0.06) 0.00  1.15  0.00 
 0.00 
 0.44 
(0.56)
 1.78 
RCWGX  0.26 (0.06) 0.00  1.34  0.00 
 0.00 
 0.43 
(0.56)
 1.84 

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