Mirova Global Correlations

MGGYX Fund

USD 8.35 0.00 0.00%

The current 90-days correlation between Mirova Global Green and Vanguard Total International is 0.01 (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 0.19 (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 manufacturing.

Moving together with Mirova Mutual Fund

0.74	GCPAX	Gateway Equity Call	Pair Corr
0.74	GCPCX	Gateway Equity Call	Pair Corr
0.74	GCPNX	Gateway Equity Call	Pair Corr
0.74	GCPYX	Gateway Equity Call	Pair Corr
0.76	GATEX	Gateway Fund Class	Pair Corr
0.76	GTECX	Gateway Fund Class	Pair Corr
0.76	GTENX	Gateway Fund Class	Pair Corr
0.76	GTEYX	Gateway Fund Class	Pair Corr
0.62	FTCAX	Templeton Strained Bond	Pair Corr
0.65	RRSVX	Rbc Small Cap	Pair Corr

Moving against Mirova Mutual Fund

0.54	USPSX	Profunds Ultrashort	Pair Corr
0.54	USPIX	Profunds Ultrashort	Pair Corr
0.53	AMFAX	Asg Managed Futures	Pair Corr
0.51	UIPIX	Ultrashort Mid Cap	Pair Corr

Related Correlations Analysis

	VTIBX	VTILX	VTIFX	VTABX	DFGBX	PFOAX	PFOCX	PFONX
VTIBX		1.0	1.0	1.0	0.77	0.94	0.95	0.93	VTIBX
VTILX	1.0		1.0	1.0	0.78	0.94	0.95	0.93	VTILX
VTIFX	1.0	1.0		1.0	0.78	0.95	0.95	0.93	VTIFX
VTABX	1.0	1.0	1.0		0.77	0.94	0.95	0.93	VTABX
DFGBX	0.77	0.78	0.78	0.77		0.85	0.81	0.87	DFGBX
PFOAX	0.94	0.94	0.95	0.94	0.85		0.99	0.98	PFOAX
PFOCX	0.95	0.95	0.95	0.95	0.81	0.99		0.98	PFOCX
PFONX	0.93	0.93	0.93	0.93	0.87	0.98	0.98		PFONX
	VTIBX	VTILX	VTIFX	VTABX	DFGBX	PFOAX	PFOCX	PFONX

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
VTIBX	0.17	0.01	(0.29)	0.99	0.19	(0.20)	0.41	(0.41)	0.93
VTILX	0.17	0.01	(0.33)	0.89	0.19	(0.18)	0.42	(0.34)	0.92
VTIFX	0.16	0.01	(0.33)	0.63	0.21	(0.17)	0.41	(0.34)	1.00
VTABX	0.17	0.01	(0.32)	0.66	0.19	(0.19)	0.41	(0.36)	0.98
DFGBX	0.03	0.00	0.00	0.00	0.00	0.00	0.10	0.00	0.10
PFOAX	0.16	0.01	(0.35)	0.57	0.13	(0.20)	0.41	(0.31)	0.82
PFOCX	0.15	0.00	(0.36)	0.40	0.14	(0.19)	0.41	(0.31)	0.82
PFONX	0.17	0.02	(0.31)	2.52	0.08	(0.22)	0.41	(0.31)	0.83

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.

Vanguard Total International Vanguard Total International Vanguard Total International Vanguard Total International Dfa Five Year Global Pimco Foreign Bond Pimco Foreign Bond Pimco International Bond American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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