Green Century Correlations

GCBLX Fund  USD 35.79  0.19  0.53%   
The current 90-days correlation between Green Century Balanced and Fidelity Advisor Diversified is 0.88 (i.e., Very poor diversification). The correlation of Green Century 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.

Green Century Correlation With Market

Almost no diversification

The correlation between Green Century Balanced and DJI is 0.97 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Green Century Balanced and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Green Century Balanced. 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 bureau of economic analysis.

Moving together with GREEN Mutual Fund

  0.99GCEQX Green Century EquityPairCorr
  0.99GCEUX Green Century EquityPairCorr
  0.95GCIFX Green Century MsciPairCorr
  0.95GCINX Green Century MsciPairCorr
  1.0GCBUX Green Century BalancedPairCorr
  0.98FBONX American Funds AmericanPairCorr
  0.98FBAFX American Funds AmericanPairCorr
  0.99ABALX American BalancedPairCorr
  0.98BALCX American BalancedPairCorr
  0.98BALFX American BalancedPairCorr
  0.98RLBCX American BalancedPairCorr
  0.98RLBBX American BalancedPairCorr
  0.98CLBAX American BalancedPairCorr
  0.98CLBEX American BalancedPairCorr
  0.98RLBFX American BalancedPairCorr
  1.0FTYPX Fidelity Freedom IndexPairCorr
  1.0FFBTX Fidelity Freedom BlendPairCorr
  0.96GCAVX Gmo Small CapPairCorr
  0.99GQLOX Gmo Quality FundPairCorr
  0.98GHVIX Gmo High YieldPairCorr
  0.99GMCQX Gmo Equity AllocationPairCorr
  0.97THIDX Toews Tactical OceanaPairCorr
  1.0MMRAX Mainstay ModeratePairCorr
  0.99VCSTX Science TechnologyPairCorr
  0.99SMVFX Ridgeworth Ceredex MidPairCorr
  0.91NECZX Loomis Sayles StrategicPairCorr
  0.96MPITX Bny Mellon InternationalPairCorr
  0.99IWGNX Ivy Wilshire GlobalPairCorr
  0.95AEDNX Arbitrage EventPairCorr
  0.99JHLGX Multimanager LifestylePairCorr
  0.95FACNX Fidelity CanadaPairCorr
  0.92MFHIX Mesirow Financial HighPairCorr
  1.0GAPAX Goldman Sachs EquityPairCorr
  0.99MCCVX Mainstay ConvertiblePairCorr
  1.0IWGIX Ivy Wilshire GlobalPairCorr
  1.0CSXAX Calvert Large CapPairCorr

Moving against GREEN Mutual Fund

  0.46GABFX Gmo Asset AllocationPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between GREEN Mutual Fund performing well and Green Century 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 Green Century'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.