Capital Group Global Fund Market Value
| CIF823 Fund | 61.21 0.23 0.38% |
| Symbol | Capital |
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 fund 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.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Capital Group on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Capital Group Global or generate 0.0% return on investment in Capital Group over 30 days.
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 fund 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 Global upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8622 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 3.36 | |||
| Value At Risk | (1.33) | |||
| Potential Upside | 1.18 |
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 | 0.1107 | |||
| Jensen Alpha | 0.0825 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.785 |
Capital Group Global Backtested Returns
At this point, Capital Group is very steady. Capital Group Global secures Sharpe Ratio (or Efficiency) of 0.14, which signifies that the fund had a 0.14% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Capital Group Global, which you can use to evaluate the volatility of the entity. Please confirm Capital Group's Risk Adjusted Performance of 0.1107, downside deviation of 0.8622, and Mean Deviation of 0.5432 to double-check if the risk estimate we provide is consistent with the expected return of 0.11%. The fund shows a Beta (market volatility) of 0.12, 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 | 0.45 |
Average predictability
Capital Group Global has average predictability. Overlapping area represents the amount of predictability between Capital Group time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 Global price movement. The serial correlation of 0.45 indicates that just about 45.0% of current Capital Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.45 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.22 |
Capital Group Global lagged returns against current returns
Autocorrelation, which is Capital Group fund'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 fund 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 fund 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 fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Capital Group fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Capital Group fund 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 fund 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 fund current value and its past values and can show if there is a momentum factor associated with investing in Capital Group Global.
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 Fund
| 0.96 | 0P0000706A | RBC Select Balanced | PairCorr |
| 0.95 | 0P00007069 | RBC Portefeuille | PairCorr |
| 0.85 | 0P0001FAU8 | TD Comfort Balanced | PairCorr |
| 0.96 | 0P00012UCU | RBC Global Equity | 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 Global 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 Global 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.| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
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