Capital Income Correlations

Mutual Funds . USA . 
Fund . Capital Income Builder
CIBCX Fund  USD 78.08  0.98  1.24%   
The current 90-days correlation between Capital Income Builder and Touchstone Small Cap is 0.44 (i.e., Very weak 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 weak diversification

The correlation between Capital Income Builder and DJI is 0.47 (i.e., Very weak 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 Trending Equities 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

  0.96AMECX Income FundPairCorr
  0.97AMFCX American MutualPairCorr
  0.97AMFFX American MutualPairCorr
  0.95CUSEX Capital Group EquityPairCorr
  0.77AMHIX American High IncomePairCorr
  0.66TEBCX Tax Exempt BondPairCorr
  0.63TECCX Tax Exempt FundPairCorr
  0.68TECFX Tax Exempt FundPairCorr
  0.94AMPCX Amcap Fund ClassPairCorr
  0.93AMPFX Amcap Fund ClassPairCorr
  0.62AMUSX Us Government SecuritiesPairCorr
  0.87TEPCX American Funds TaxPairCorr
  0.91TEPAX American Funds TaxPairCorr
  0.92TEPFX American Funds TaxPairCorr
  0.87EMGEX Emerging Markets GrowthPairCorr
  0.62ANBAX American Funds StrategicPairCorr
  0.81ANCFX American Funds FundaPairCorr
  0.96ANFCX New Economy FundPairCorr
  0.96ANEFX New Economy FundPairCorr
  0.97ANFFX New Economy FundPairCorr
  0.87EMRGX Emerging Markets GrowthPairCorr
  0.97NPFCX New PerspectivePairCorr
  0.97NPFFX New PerspectivePairCorr
  0.85PGGAX American Funds GlobalPairCorr
  0.86PGGFX American Funds GlobalPairCorr
  0.94ANWPX New PerspectivePairCorr
  0.9BALFX American BalancedPairCorr
  0.96BALCX American BalancedPairCorr
  0.97CWGIX Capital World GrowthPairCorr
  0.97CWGFX Capital World GrowthPairCorr
  0.97CWGCX Capital World GrowthPairCorr
  0.86WSHFX Washington MutualPairCorr
  0.97WSHCX Washington MutualPairCorr
  0.92FAATX American Funds 2010PairCorr
  0.89FAETX American Funds 2030PairCorr

Moving against Capital Mutual Fund

  0.71AMRMX American MutualPairCorr

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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