Mirova Global Correlations

Mutual Funds . USA . 
Fund . Mirova Global Sustainable
ESGYX Fund  USD 21.46  0.02  0.09%   
The current 90-days correlation between Mirova Global Sustainable and Asg Managed Futures is -0.09 (i.e., Good diversification). The correlation of Mirova Global 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.

Mirova Global Correlation With Market

Very poor diversification

The correlation between Mirova Global Sustainable 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 Mirova Global Sustainable and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Mirova Global Sustainable. 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 manufacturing.

Moving together with Mirova Mutual Fund

  0.97NOANX Natixis OakmarkPairCorr
  0.98NOIAX Natixis Oakmark IntePairCorr
  0.98NOICX Natixis Oakmark IntePairCorr
  0.97GCPAX Gateway Equity CallPairCorr
  0.97GCPCX Gateway Equity CallPairCorr
  0.96GCPNX Gateway Equity CallPairCorr
  0.98NOIYX Natixis Oakmark IntlPairCorr
  0.97GCPYX Gateway Equity CallPairCorr
  0.67LGANX Loomis Sayles LimitedPairCorr
  0.73LGBCX Loomis Sayles InvestmentPairCorr
  0.76LGBNX Loomis Sayles InvestmentPairCorr
  0.99LGMAX Loomis Sayles GlobalPairCorr
  0.99LGMCX Loomis Sayles GlobalPairCorr
  0.98LGMNX Loomis Sayles GlobalPairCorr
  0.99LGRCX Loomis Sayles GrowthPairCorr
  0.98LGRNX Loomis Sayles GrowthPairCorr
  0.98LGRRX Loomis Sayles GrowthPairCorr
  0.96VNSYX Vaughan Nelson SelectPairCorr
  0.97VNSCX Vaughan Nelson SelectPairCorr
  0.97VNSAX Vaughan Nelson SelectPairCorr
  0.96VNSNX Vaughan Nelson SelectPairCorr
  0.95VNVCX Vaughan Nelson ValuePairCorr
  0.95VNVAX Vaughan Nelson ValuePairCorr
  0.95VNVNX Vaughan Nelson ValuePairCorr
  0.95VNVYX Vaughan Nelson ValuePairCorr
  0.98LIGCX Loomis Sayles InternPairCorr
  0.74LIGAX Loomis Sayles InvestmentPairCorr
  0.98LIGGX Loomis Sayles InternPairCorr
  0.98LIGNX Loomis Sayles InternPairCorr
  0.75LIGRX Loomis Sayles InvestmentPairCorr
  0.98LIGYX Loomis Sayles InternPairCorr
  0.88NRCFX Aew Real EstatePairCorr
  0.88NRFAX Aew Real EstatePairCorr
  0.88NRFNX Aew Real EstatePairCorr
  0.88NRFYX Aew Real EstatePairCorr
  0.99NSFLX Natixis SustainablePairCorr
  0.99NSFKX Natixis SustainablePairCorr
  0.99NSFJX Natixis SustainablePairCorr

Moving against Mirova Mutual Fund

  0.54AMFAX Asg Managed FuturesPairCorr
  0.51AMFNX Asg Managed FuturesPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
AMFNX
+ 1.0
AMFAX
NOICX
+ 1.0
NOIAX
NOIYX
+ 1.0
NOIAX
NOIYX
+ 1.0
NOICX
GCPCX
+ 1.0
GCPAX
GCPNX
+ 1.0
GCPAX
  
High negative correlations   
NOANX
- 0.51
AMFAX
NOANX
- 0.49
AMFNX
GCPCX
- 0.45
AMFAX
GCPAX
- 0.45
AMFAX
GCPYX
- 0.44
AMFAX
NOIYX
- 0.44
AMFAX

Risk-Adjusted Indicators

There is a big difference between Mirova Mutual Fund performing well and Mirova Global 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 Mirova Global'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
AMFAX  0.32  0.00  0.00  0.15  0.00 
 0.00 
 0.57 
(0.97)
 2.66 
AMFNX  0.32  0.00  0.00  0.13  0.00 
 0.00 
 0.56 
(0.83)
 2.62 
NOANX  0.71  0.08  0.08  0.22  0.60 
(0.81)
 1.82 
(1.25)
 5.76 
NOIAX  0.65  0.15  0.10  0.42  0.48 
(0.72)
 1.52 
(1.19)
 3.83 
NOICX  0.66  0.14  0.09  0.41  0.50 
(0.78)
 1.55 
(1.21)
 3.83 
GCPAX  0.35  0.07  0.01  0.27  0.30 
(0.39)
 1.04 
(0.70)
 2.70 
GCPCX  0.36  0.07  0.01  0.26  0.27 
(0.39)
 1.09 
(0.66)
 2.68 
GCPNX  0.35  0.07  0.01  0.27  0.30 
(0.37)
 1.03 
(0.66)
 2.71 
NOIYX  0.66  0.15  0.10  0.41  0.48 
(0.76)
 1.53 
(1.19)
 3.85 
GCPYX  0.35  0.07  0.01  0.27  0.31 
(0.38)
 1.08 
(0.71)
 2.71 

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