Capital Income Correlations

Mutual Funds . USA . 
Fund . Capital Income Builder
RIREX Fund  USD 79.93  0.30  0.38%   
The current 90-days correlation between Capital Income Builder and New Economy Fund is 0.23 (i.e., Modest 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 0.88 (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 services.

Moving together with Capital Mutual Fund

  0.97RNEBX New World FundPairCorr
  0.96RNCCX American Funds IncomePairCorr
  0.94FPPPX American Funds PresePairCorr
  0.97AMEFX Income FundPairCorr
  0.97RNGGX New Economy FundPairCorr
  0.97RNGFX New Economy FundPairCorr
  0.96RNGHX New Economy FundPairCorr
  0.96RNGBX New Economy FundPairCorr
  0.96RNGAX New Economy FundPairCorr
  0.96RNGEX New Economy FundPairCorr
  0.96RNGCX New Economy FundPairCorr
  0.83TEAFX Tax Exempt BondPairCorr
  0.96FPTPX American Funds ConsePairCorr
  0.76TEFEX Tax Exempt FundPairCorr
  0.89RNNEX New Economy FundPairCorr
  0.93CDJAX American Funds CollegePairCorr
  0.97RNPBX New PerspectivePairCorr
  0.97RNPAX New PerspectivePairCorr
  0.98RNPHX New PerspectivePairCorr
  0.98RNPGX New PerspectivePairCorr
  0.97RNPCX New PerspectivePairCorr
  0.98RNPFX New PerspectivePairCorr
  0.98RNPEX New PerspectivePairCorr
  0.97AMRFX American MutualPairCorr
  0.95RNRPX American Funds RetirementPairCorr
  0.97RNWFX New World FundPairCorr
  0.97RNWEX New World FundPairCorr
  0.97RNWHX New World FundPairCorr
  0.97RNWGX New World FundPairCorr
  0.97RNWBX New World FundPairCorr
  0.97RNWAX New World FundPairCorr
  0.97RNWCX New World FundPairCorr
  0.86CDWEX American Funds DevelopingPairCorr
  0.87CDWFX American Funds DevelopingPairCorr
  0.82CDWCX American Funds DevelopingPairCorr
  0.83CDWAX American Funds DevelopingPairCorr
  0.84ANBGX American Funds StrategicPairCorr
  0.82ANBFX American Funds StrategicPairCorr
  0.85CEAMX Short Term BondPairCorr
  0.83TFEBX 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  0.62  0.13  0.16  0.28  0.40 
(0.69)
 1.60 
(1.16)
 7.62 
RNCCX  0.29  0.06  0.06  0.24  0.10 
(0.33)
 0.52 
(0.50)
 2.84 
FPPPX  0.07  0.00 (0.46) 0.18  0.00 
(0.12)
 0.11 
(0.11)
 0.32 
AMEFX  0.44  0.18  0.34  0.49  0.00 
(0.56)
 0.79 
(0.70)
 7.41 
RNGGX  0.94  0.18  0.11  0.34  1.01 
(0.94)
 1.82 
(2.06)
 12.50 
RNGFX  0.94  0.18  0.11  0.34  1.01 
(0.94)
 1.81 
(2.06)
 12.41 
RNGHX  0.95  0.18  0.12  0.35  0.99 
(0.95)
 1.81 
(2.06)
 12.70 
RNGBX  0.99  0.22  0.14  0.44  0.95 
(1.00)
 1.82 
(2.05)
 15.16 
RNGAX  0.99  0.22  0.14  0.45  0.97 
(1.00)
 1.82 
(2.05)
 15.30 
RNGEX  0.95  0.18  0.12  0.36  0.99 
(0.95)
 1.82 
(2.07)
 12.85 

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