Green Century Correlations

Mutual Funds . USA . 
Fund . Green Century Balanced
GCBUX Fund  USD 35.69  0.02  0.06%   
The current 90-days correlation between Green Century Balanced and Green Century Equity is 0.95 (i.e., Almost no 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 0.92 (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 employment.

Moving together with Green Mutual Fund

  0.99GCEQX Green Century EquityPairCorr
  0.99GCEUX Green Century EquityPairCorr
  0.94GCIFX Green Century MsciPairCorr
  0.93GCINX Green Century MsciPairCorr
  1.0GCBLX Green Century BalancedPairCorr
  0.97FBONX American Funds AmericanPairCorr
  0.97FBAFX American Funds AmericanPairCorr
  0.98ABALX American BalancedPairCorr
  0.97BALCX American BalancedPairCorr
  0.97BALFX American BalancedPairCorr
  0.97RLBCX American BalancedPairCorr
  0.97RLBBX American BalancedPairCorr
  0.97CLBAX American BalancedPairCorr
  0.97CLBEX American BalancedPairCorr
  0.97RLBFX American BalancedPairCorr
  0.83MGGYX Mirova Global GreenPairCorr
  0.93HLDIX Hartford EmergingPairCorr
  0.92HLDRX Hartford EmergingPairCorr
  0.92HLDAX Hartford EmergingPairCorr
  0.93HLDCX Hartford EmergingPairCorr
  0.93HLDTX Hartford EmergingPairCorr
  0.97MINJX Mfs International ValuePairCorr
  0.99QIBGX Federated Mdt BalancedPairCorr
  0.99CSGCX Calvert Balanced PorPairCorr
  0.95FEFAX First Eagle FundPairCorr
  0.91ADNIX Amer Beacon Ark Steady GrowthPairCorr
  0.88IORLX Aim Taxexempt FundsPairCorr
  0.99CLREX Columbia BalancedPairCorr
  0.95MISMX Matthews Asia SmallPairCorr
  0.9GPPSX Goldman Sachs ShortPairCorr
  0.89DCARX Dfa California MunicipalPairCorr
  0.95GCMDX Goldman Sachs LocalPairCorr
  0.96NBPIX Neuberger Berman LargePairCorr
  0.94DPRRX Delaware ReitPairCorr
  0.98TEMUX Emerging Markets EquityPairCorr

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.

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