Capital Group Core Etf Market Value
| CGCP Etf | USD 22.40 0.03 0.13% |
| Symbol | Capital |
The market value of Capital Group Core is measured differently than its book value, which is the value of Capital that is recorded on the company's balance sheet. Investors also form their own opinion of Capital Group's value that differs from its market value or its book value, called intrinsic value, which is Capital Group's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Capital Group's market value can be influenced by many factors that don't directly affect Capital Group's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Capital Group's value and its price as these two are different measures arrived at by different means. Investors typically determine if Capital Group is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Capital Group's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Capital Group 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Capital Group's etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Capital Group.
| 11/28/2023 |
| 11/22/2024 |
If you would invest 0.00 in Capital Group on November 28, 2023 and sell it all today you would earn a total of 0.00 from holding Capital Group Core or generate 0.0% return on investment in Capital Group over 360 days. Capital Group is related to or competes with Capital Group, Capital Group, Capital Group, Capital Group, and Capital Group. The fund will normally invest at least 80 percent of its assets in bonds and other debt securities, which may be represe... More
Capital Group Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Capital Group's etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Capital Group Core upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.48) | |||
| Maximum Drawdown | 1.23 | |||
| Value At Risk | (0.49) | |||
| Potential Upside | 0.4472 |
Capital Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Capital Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Capital Group's standard deviation. In reality, there are many statistical measures that can use Capital Group historical prices to predict the future Capital Group's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.06) | |||
| Treynor Ratio | (0.74) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Capital Group's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Capital Group Core Backtested Returns
Capital Group Core secures Sharpe Ratio (or Efficiency) of -0.0885, which signifies that the etf had a -0.0885% return per unit of risk over the last 3 months. Capital Group Core exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Capital Group's Risk Adjusted Performance of (0.07), mean deviation of 0.2079, and Standard Deviation of 0.2663 to double-check the risk estimate we provide. The etf shows a Beta (market volatility) of 0.0395, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Capital Group's returns are expected to increase less than the market. However, during the bear market, the loss of holding Capital Group is expected to be smaller as well.
Auto-correlation | 0.25 |
Poor predictability
Capital Group Core has poor predictability. Overlapping area represents the amount of predictability between Capital Group time series from 28th of November 2023 to 26th of May 2024 and 26th of May 2024 to 22nd of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Capital Group Core price movement. The serial correlation of 0.25 indicates that over 25.0% of current Capital Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.25 | |
| Spearman Rank Test | 0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 0.17 |
Capital Group Core lagged returns against current returns
Autocorrelation, which is Capital Group etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Capital Group's etf expected returns. We can calculate the autocorrelation of Capital Group returns to help us make a trade decision. For example, suppose you find that Capital Group has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Capital Group regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Capital Group etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Capital Group etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Capital Group etf over time.
Current vs Lagged Prices |
| Timeline |
Capital Group Lagged Returns
When evaluating Capital Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Capital Group etf have on its future price. Capital Group autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Capital Group autocorrelation shows the relationship between Capital Group etf current value and its past values and can show if there is a momentum factor associated with investing in Capital Group Core.
Regressed Prices |
| Timeline |
Pair Trading with Capital Group
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Capital Group position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Capital Group will appreciate offsetting losses from the drop in the long position's value.Moving together with Capital Etf
| 1.0 | IUSB | iShares Core Total | PairCorr |
| 0.95 | FIXD | First Trust TCW | PairCorr |
| 0.95 | FBND | Fidelity Total Bond Sell-off Trend | PairCorr |
| 0.96 | TOTL | SPDR DoubleLine Total | PairCorr |
| 0.96 | HTRB | Hartford Total Return | PairCorr |
Moving against Capital Etf
| 0.81 | RSPY | Tuttle Capital Management | PairCorr |
| 0.8 | MEME | Roundhill Investments | PairCorr |
| 0.74 | DSJA | DSJA | PairCorr |
| 0.54 | ITWO | Proshares Russell 2000 Low Volatility | PairCorr |
| 0.49 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
The ability to find closely correlated positions to Capital Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Capital Group when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Capital Group - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Capital Group Core to buy it.
The correlation of Capital Group 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Capital Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Capital Group Core moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Capital Group can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Capital Group Correlation, Capital Group Volatility and Capital Group Alpha and Beta module to complement your research on Capital Group. You can also try the Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Capital Group technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.