Calvert Global Correlations

Mutual Funds USA . 
Fund . Calvert Global Water
CFWIX Fund  USD 30.97  0.19  0.62%   
The current 90-days correlation between Calvert Global Water and Calvert Global Water is 1.0 (i.e., No risk reduction). The correlation of Calvert 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.

Calvert Global Correlation With Market

Poor diversification

The correlation between Calvert Global Water and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calvert Global Water and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Calvert Global Water. 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 gross domestic product.

Moving together with Calvert Mutual Fund

  0.74CDHIX Calvert Developed MarketPairCorr
  0.73CDHAX Calvert Developed MarketPairCorr
  0.74CDHRX Calvert InternationalPairCorr
  0.77CVMAX Calvert Emerging MarketsPairCorr
  0.77CVMRX Calvert Emerging MarketsPairCorr
  0.77CVMIX Calvert Emerging MarketsPairCorr
  0.78CVMCX Calvert Emerging MarketsPairCorr
  0.66CEFAX Calvert Emerging MarketsPairCorr
  0.67CEFIX Congressional EffectPairCorr
  0.61CEMCX Calvert Emerging MarketsPairCorr
  0.62CEMAX Calvert Emerging MarketsPairCorr
  0.65CEYIX Calvert Equity PortfolioPairCorr
  0.65CEYRX Calvert EquityPairCorr
  0.79CFAIX Calvert ConservativePairCorr
  0.63CWVIX Calvert InternationalPairCorr
  0.63CWVGX Calvert InternationalPairCorr
  0.62CWVCX Calvert InternationalPairCorr
  1.0CFWCX Calvert Global WaterPairCorr
  1.0CFWAX Calvert Global WaterPairCorr
  0.66CGARX Calvert Responsible IndexPairCorr
  0.9CGAEX Calvert Global EnergyPairCorr
  0.89CGACX Calvert Global EnergyPairCorr
  0.78CGLIX Calvert Global EquityPairCorr
  0.78CGLAX Calvert Global EquityPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
CAEIX
+ 0.9
CFWCX
CEYIX
+ 0.64
CFWCX
CEYIX
+ 0.46
CSVIX
CEYIX
+ 0.35
CAEIX
CSVIX
+ 0.03
CFWCX
  
High negative correlations   
CAEIX
- 0.27
CSVIX

Risk-Adjusted Indicators

There is a big difference between Calvert Mutual Fund performing well and Calvert 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 Calvert 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.

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