Mirova Global Correlations

MGGNX Fund

USD 8.36 0.00 0.00%

The current 90-days correlation between Mirova Global Green and Morningstar Global Income is 0.03 (i.e., Significant 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

Average diversification

The correlation between Mirova Global Green and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mirova Global Green and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. 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 board of governors.

Moving together with Mirova Mutual Fund

0.87	NOANX	Natixis Oakmark	Pair Corr
0.84	NOIAX	Natixis Oakmark Inte	Pair Corr
0.84	NOICX	Natixis Oakmark Inte	Pair Corr
0.87	GCPAX	Gateway Equity Call	Pair Corr
0.87	GCPCX	Gateway Equity Call	Pair Corr
0.88	GCPNX	Gateway Equity Call	Pair Corr
0.84	NOIYX	Natixis Oakmark Intl	Pair Corr
0.87	GCPYX	Gateway Equity Call	Pair Corr
0.67	LGANX	Loomis Sayles Limited	Pair Corr
0.71	LGBCX	Loomis Sayles Investment	Pair Corr
0.73	LGBNX	Loomis Sayles Investment	Pair Corr
0.86	LGMAX	Loomis Sayles Global	Pair Corr
0.86	LGMCX	Loomis Sayles Global	Pair Corr
0.86	LGMNX	Loomis Sayles Global	Pair Corr
0.86	LGRCX	Loomis Sayles Growth	Pair Corr
0.86	LGRNX	Loomis Sayles Growth	Pair Corr
0.86	LGRRX	Loomis Sayles Growth	Pair Corr
0.88	VNSYX	Vaughan Nelson Select	Pair Corr
0.88	VNSCX	Vaughan Nelson Select	Pair Corr
0.87	VNSAX	Vaughan Nelson Select	Pair Corr
0.87	VNSNX	Vaughan Nelson Select	Pair Corr
0.9	VNVCX	Vaughan Nelson Value	Pair Corr
0.9	VNVAX	Vaughan Nelson Value	Pair Corr
0.9	VNVNX	Vaughan Nelson Value	Pair Corr
0.9	VNVYX	Vaughan Nelson Value	Pair Corr
0.76	LIGCX	Loomis Sayles Intern	Pair Corr
0.71	LIGAX	Loomis Sayles Investment	Pair Corr
0.77	LIGGX	Loomis Sayles Intern	Pair Corr
0.77	LIGNX	Loomis Sayles Intern	Pair Corr
0.72	LIGRX	Loomis Sayles Investment	Pair Corr
0.77	LIGYX	Loomis Sayles Intern	Pair Corr
0.85	NSFLX	Natixis Sustainable	Pair Corr
0.85	NSFKX	Natixis Sustainable	Pair Corr
0.85	NSFJX	Natixis Sustainable	Pair Corr

Moving against Mirova Mutual Fund

0.37	AMFAX	Asg Managed Futures	Pair Corr
0.35	AMFNX	Asg Managed Futures	Pair Corr

Related Correlations Analysis

	MSTGX	TEDIX	JGECX	GLOIX	ANAZX	WRLDX	GMADX	NGJCX	XEHIX
MSTGX		0.97	0.98	0.94	0.86	0.97	0.97	0.87	0.94	MSTGX
TEDIX	0.97		0.99	0.93	0.79	0.98	0.98	0.91	0.92	TEDIX
JGECX	0.98	0.99		0.92	0.78	0.99	0.98	0.89	0.91	JGECX
GLOIX	0.94	0.93	0.92		0.82	0.92	0.92	0.87	0.83	GLOIX
ANAZX	0.86	0.79	0.78	0.82		0.81	0.79	0.81	0.82	ANAZX
WRLDX	0.97	0.98	0.99	0.92	0.81		0.97	0.9	0.91	WRLDX
GMADX	0.97	0.98	0.98	0.92	0.79	0.97		0.87	0.91	GMADX
NGJCX	0.87	0.91	0.89	0.87	0.81	0.9	0.87		0.79	NGJCX
XEHIX	0.94	0.92	0.91	0.83	0.82	0.91	0.91	0.79		XEHIX
	MSTGX	TEDIX	JGECX	GLOIX	ANAZX	WRLDX	GMADX	NGJCX	XEHIX

Click cells to compare fundamentals

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MSTGX	0.25	0.10	(0.11)	(1.92)	0.00	(0.32)	0.65	(0.54)	1.55
TEDIX	0.51	0.16	0.01	(2.12)	0.50	(0.53)	1.12	(1.33)	3.32
JGECX	0.51	0.18	0.05	(2.95)	0.35	(0.56)	1.49	(1.04)	3.38
GLOIX	0.53	0.15	0.02	10.36	0.41	(0.63)	1.28	(0.99)	2.83
ANAZX	0.17	0.02	(0.50)	(0.77)	0.05	(0.24)	0.44	(0.29)	0.88
WRLDX	0.50	0.12	(0.04)	(1.66)	0.40	(0.56)	1.20	(0.84)	2.90
GMADX	0.50	0.12	0.09	0.33	0.30	(0.59)	1.41	(1.09)	3.02
NGJCX	0.52	0.10	(0.06)	(1.01)	0.69	(0.55)	1.41	(1.17)	3.56
XEHIX	0.22	0.05	(0.22)	(0.46)	0.21	(0.27)	0.46	(0.45)	1.65

Mirova Global Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Mirova Global mutual fund to make a market-neutral strategy. Peer analysis of Mirova Global could also be used in its relative valuation, which is a method of valuing Mirova Global by comparing valuation metrics with similar companies.

Morningstar Global Income Franklin Mutual Global Jhancock Global Equity Gamco Global Opportunity Ab Global Bond Scharf Global Opportunity Gmo Global Equity Nuveen Global Real Western Assets Global American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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