Green Century Correlations

Mutual Funds . USA . 
Fund . Green Century Equity
GCEQX Fund  USD 97.26  0.02  0.02%   
The current 90-days correlation between Green Century Equity and Green Century Balanced 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

Very poor diversification

The correlation between Green Century Equity and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Green Century Equity 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 Equity. 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 producer price index.

Moving together with Green Mutual Fund

  1.0GCEUX Green Century EquityPairCorr
  0.92GCIFX Green Century MsciPairCorr
  0.92GCINX Green Century MsciPairCorr
  0.99GCBUX Green Century BalancedPairCorr
  0.99GCBLX Green Century BalancedPairCorr
  1.0VTSAX Vanguard Total StockPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  1.0VTSMX Vanguard Total StockPairCorr
  1.0VITSX Vanguard Total StockPairCorr
  1.0VSMPX Vanguard Total StockPairCorr
  1.0VSTSX Vanguard Total StockPairCorr
  1.0VFINX Vanguard 500 IndexPairCorr
  1.0VFFSX Vanguard 500 IndexPairCorr
  1.0VINIX Vanguard InstitutionalPairCorr
  1.0VIIIX Vanguard InstitutionalPairCorr
  0.62RYMEX Commodities StrategyPairCorr
  0.61RYMJX Commodities StrategyPairCorr
  0.62RYMBX Commodities StrategyPairCorr
  0.85BRUFX Bruce Fund BrucePairCorr
  1.0SPGSX State Street PremierPairCorr
  0.88KF Korea ClosedPairCorr
  0.99QSMRX Aqr Small CapPairCorr
  0.99PLIEX Plumb EquityPairCorr
  0.96TVOIX Touchstone Small CapPairCorr
  1.0RYTNX Sp 500 2xPairCorr
  0.99XECFX Ellsworth FundPairCorr
  0.99JCE Nuveen Core EquityPairCorr
  0.98AABHX American Century OnePairCorr
  0.99IDXSX Voya Index SolutionPairCorr
  0.99JHQRX Jpmorgan Hedged EquityPairCorr
  0.93MSTAX Mainstay Tax AdvantagedPairCorr
  0.98IAE Voya Asia PacificPairCorr
  0.99FRELX Franklin Lifesmart 2025PairCorr
  1.0TWGIX Growth Fund IPairCorr
  1.0SDYAX Simt Dynamic AssetPairCorr
  0.95SFCCX California Limited TermPairCorr
  0.99TGWRX Transamerica Large GrowthPairCorr
  1.0SLCCX Clearbridge Large CapPairCorr
  0.89DSTIX Dreyfus Short TermPairCorr

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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