Capital Income Correlations

Mutual Funds . USA . 
Fund . Capital Income Builder
RIRCX Fund  USD 78.95  0.26  0.33%   
The current 90-days correlation between Capital Income Builder and Gmo High Yield is 0.09 (i.e., Significant 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 0.87 (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 Your Equity Center 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 unemployment.

Moving together with Capital Mutual Fund

  0.97RNEBX New World FundPairCorr
  0.94RNCCX American Funds IncomePairCorr
  0.91FPPPX American Funds PresePairCorr
  0.97RNGFX New Economy FundPairCorr
  0.97RNGHX New Economy FundPairCorr
  0.81TEAFX Tax Exempt BondPairCorr
  0.94FPTPX American Funds ConsePairCorr
  0.82RNNEX New Economy FundPairCorr
  0.97RNPAX New PerspectivePairCorr
  0.97RNPGX New PerspectivePairCorr
  0.97RNPCX New PerspectivePairCorr
  0.97AMRFX American MutualPairCorr
  0.94RNRPX American Funds RetirementPairCorr
  0.97RNWGX New World FundPairCorr
  0.97RNWAX New World FundPairCorr
  0.83CDWFX American Funds DevelopingPairCorr
  0.72ANBGX American Funds StrategicPairCorr
  0.88CEAMX Short Term BondPairCorr
  0.92CENEX American Funds LegePairCorr
  0.93CENFX American Funds LegePairCorr
  0.92CENAX American Funds LegePairCorr
  0.97ANWFX New PerspectivePairCorr
  0.91TXEFX American Funds TaxPairCorr
  0.98CEUCX Europacific GrowthPairCorr
  0.97CWIEX Capital World GrowthPairCorr
  0.97CWICX Capital World GrowthPairCorr
  0.97CWIAX Capital World GrowthPairCorr
  0.98CEUFX Europacific GrowthPairCorr
  0.98CEUEX Europacific GrowthPairCorr
  0.99CWMEX Washington MutualPairCorr
  0.99CWMFX Washington MutualPairCorr
  0.97CWMAX Washington MutualPairCorr
  0.8HIMFX American High IncomePairCorr
  0.86CFAMX Short Term BondPairCorr
  0.96FAFGX American FundsPairCorr
  0.77FAX Aberdeen Asia PacificPairCorr
  1.0CFIHX Capital Income BuilderPairCorr

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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