Capital Income Correlations

CIRCX Fund

USD 78.07 0.98 1.24%

The current 90-days correlation between Capital Income Builder and Rmb Mendon Financial is 0.26 (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 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

0.96	RNEBX	New World Fund	Pair Corr
0.93	RNCCX	American Funds Income	Pair Corr
0.9	FPPPX	American Funds Prese	Pair Corr
0.96	AMEFX	Income Fund	Pair Corr
0.97	RNGGX	New Economy Fund	Pair Corr
0.97	RNGFX	New Economy Fund	Pair Corr
0.97	RNGHX	New Economy Fund	Pair Corr
0.96	RNGBX	New Economy Fund	Pair Corr
0.96	RNGAX	New Economy Fund	Pair Corr
0.97	RNGEX	New Economy Fund	Pair Corr
0.97	RNGCX	New Economy Fund	Pair Corr
0.82	TEAFX	Tax Exempt Bond	Pair Corr
0.94	FPTPX	American Funds Conse	Pair Corr
0.7	TEFEX	Tax Exempt Fund	Pair Corr
0.85	RNNEX	New Economy Fund	Pair Corr
0.91	CDJAX	American Funds College	Pair Corr
0.97	RNPBX	New Perspective	Pair Corr
0.97	RNPAX	New Perspective	Pair Corr
0.97	RNPHX	New Perspective	Pair Corr
0.97	RNPGX	New Perspective	Pair Corr
0.97	RNPCX	New Perspective	Pair Corr
0.97	RNPFX	New Perspective	Pair Corr
0.97	RNPEX	New Perspective	Pair Corr
0.97	AMRFX	American Mutual	Pair Corr
0.93	RNRPX	American Funds Retirement	Pair Corr
0.96	RNWFX	New World Fund	Pair Corr
0.96	RNWEX	New World Fund	Pair Corr
0.96	RNWHX	New World Fund	Pair Corr
0.96	RNWGX	New World Fund	Pair Corr
0.96	RNWBX	New World Fund	Pair Corr
0.96	RNWAX	New World Fund	Pair Corr
0.96	RNWCX	New World Fund	Pair Corr
0.8	CDWEX	American Funds Developing	Pair Corr
0.75	CDWFX	American Funds Developing	Pair Corr
0.79	CDWCX	American Funds Developing	Pair Corr
0.75	CDWAX	American Funds Developing	Pair Corr
0.67	ANBGX	American Funds Strategic	Pair Corr
0.66	ANBFX	American Funds Strategic	Pair Corr
0.88	CEAMX	Short Term Bond	Pair Corr
0.78	TFEBX	Tax Exempt Bond	Pair Corr

Related Correlations Analysis

	RMBLX	SBFAX	VFAIX	FTIXX	GCFSX	BTO	PSSRX	PGFMX
RMBLX		0.94	0.91	0.0	0.98	0.91	0.91	0.71	RMBLX
SBFAX	0.94		0.91	0.0	0.92	0.88	0.93	0.72	SBFAX
VFAIX	0.91	0.91		0.0	0.92	0.91	0.92	0.71	VFAIX
FTIXX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	FTIXX
GCFSX	0.98	0.92	0.92	0.0		0.87	0.92	0.74	GCFSX
BTO	0.91	0.88	0.91	0.0	0.87		0.82	0.65	BTO
PSSRX	0.91	0.93	0.92	0.0	0.92	0.82		0.82	PSSRX
PGFMX	0.71	0.72	0.71	0.0	0.74	0.65	0.82		PGFMX
	RMBLX	SBFAX	VFAIX	FTIXX	GCFSX	BTO	PSSRX	PGFMX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

GCFSX	+ 0.98	RMBLX
SBFAX	+ 0.94	RMBLX
PSSRX	+ 0.93	SBFAX
GCFSX	+ 0.92	SBFAX
GCFSX	+ 0.92	VFAIX
PSSRX	+ 0.92	VFAIX

High negative correlations

PGFMX	- 0.0	FTIXX
PSSRX	- 0.0	FTIXX
BTO	- 0.0	FTIXX
GCFSX	- 0.0	FTIXX
FTIXX	- 0.0	VFAIX
FTIXX	- 0.0	SBFAX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RMBLX	1.00	0.21	0.15	0.30	1.02	(1.17)	3.00	(1.19)	6.79
SBFAX	0.93	0.23	0.19	0.45	0.68	(1.14)	1.70	(1.46)	18.32
VFAIX	0.71	(0.05)	(0.05)	0.01	1.07	(0.67)	1.35	(1.77)	3.99
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GCFSX	0.48	0.11	0.13	0.22	0.43	(0.58)	1.39	(1.04)	3.52
BTO	0.93	(0.03)	(0.02)	0.03	1.43	(0.90)	1.76	(2.04)	5.20
PSSRX	0.91	0.13	0.12	0.17	0.89	(1.02)	1.90	(1.75)	12.65
PGFMX	0.30	0.05	(0.01)	0.49	0.20	(0.36)	0.56	(0.64)	2.39

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