Amundi Climate Correlations

CTBAX Fund

9.71 0.01 0.10%

The correlation of Amundi Climate 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.

Amundi Climate Correlation With Market

Significant diversification

The correlation between Amundi Climate Transition and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amundi Climate Transition 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 Amundi Climate Transition. 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 nation.

Moving together with Amundi Mutual Fund

0.63	HICMX	Pioneer High Income	Pair Corr
0.99	STIRX	Pioneer Strategic Income	Pair Corr
0.98	STRYX	Pioneer Strategic Income	Pair Corr
0.66	INVYX	Pioneer International	Pair Corr
0.82	MNBCX	Pioneer Amt Free	Pair Corr
1.0	PICYX	Pioneer Bond	Pair Corr
0.63	PIEKX	Pioneer International	Pair Corr
0.66	PIIFX	Pioneer International	Pair Corr

Moving against Amundi Mutual Fund

0.75	PYEQX	Pioneer Equity Income	Pair Corr
0.7	PGRRX	Pioneer Select Mid	Pair Corr
0.69	PYCGX	Pioneer Mid Cap	Pair Corr
0.68	PGOFX	Pioneer Select Mid	Pair Corr
0.67	CVKFX	Pioneer Disciplined Value	Pair Corr
0.66	CVFCX	Pioneer Disciplined Value	Pair Corr
0.66	CVFYX	Pioneer Disciplined Value	Pair Corr
0.66	CVRFX	Pioneer Disciplined Value	Pair Corr
0.65	CVCFX	Pioneer Disciplined Value	Pair Corr
0.53	PFGRX	Pioneer Fundamental	Pair Corr
0.34	AOBLX	Pioneer Classic Balanced	Pair Corr
0.67	PYODX	Pioneer Fund Pioneer	Pair Corr
0.64	INDCX	Pioneer Disciplined	Pair Corr
0.64	INKDX	Pioneer Disciplined	Pair Corr
0.64	INYDX	Pioneer Disciplined	Pair Corr
0.64	PINDX	Pioneer Disciplined	Pair Corr
0.53	PIGFX	Pioneer Fundamental	Pair Corr

Related Correlations Analysis

	PFGRX	GCSLX	CVCFX	CVFCX	CVFYX	CVKFX	CVRFX	STABX	PGOFX	HICMX
PFGRX		0.5	0.89	0.89	0.89	0.84	0.89	0.14	0.91	-0.02	PFGRX
GCSLX	0.5		0.43	0.42	0.42	0.35	0.43	0.1	0.33	0.26	GCSLX
CVCFX	0.89	0.43		1.0	1.0	0.93	1.0	0.1	0.94	-0.08	CVCFX
CVFCX	0.89	0.42	1.0		1.0	0.93	1.0	0.11	0.94	-0.08	CVFCX
CVFYX	0.89	0.42	1.0	1.0		0.93	1.0	0.11	0.94	-0.08	CVFYX
CVKFX	0.84	0.35	0.93	0.93	0.93		0.93	0.1	0.89	-0.11	CVKFX
CVRFX	0.89	0.43	1.0	1.0	1.0	0.93		0.11	0.94	-0.08	CVRFX
STABX	0.14	0.1	0.1	0.11	0.11	0.1	0.11		0.15	0.74	STABX
PGOFX	0.91	0.33	0.94	0.94	0.94	0.89	0.94	0.15		-0.05	PGOFX
HICMX	-0.02	0.26	-0.08	-0.08	-0.08	-0.11	-0.08	0.74	-0.05		HICMX
	PFGRX	GCSLX	CVCFX	CVFCX	CVFYX	CVKFX	CVRFX	STABX	PGOFX	HICMX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

CVFCX	+ 1.0	CVCFX
CVFYX	+ 1.0	CVCFX
CVRFX	+ 1.0	CVCFX
CVFYX	+ 1.0	CVFCX
CVRFX	+ 1.0	CVFCX
CVRFX	+ 1.0	CVFYX

High negative correlations

HICMX	- 0.11	CVKFX
HICMX	- 0.08	CVRFX
HICMX	- 0.08	CVFYX
HICMX	- 0.08	CVFCX
HICMX	- 0.08	CVCFX
HICMX	- 0.05	PGOFX

Risk-Adjusted Indicators

There is a big difference between Amundi Mutual Fund performing well and Amundi Climate 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 Amundi Climate'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
PFGRX	0.59	(0.05)	(0.08)	0.06	0.74	(0.61)	1.17	(1.46)	3.88
GCSLX	0.59	(0.09)	(0.16)	(0.01)	0.73	(0.67)	1.20	(1.27)	3.38
CVCFX	0.54	0.01	(0.03)	0.13	0.33	(0.64)	1.02	(0.80)	3.62
CVFCX	0.53	0.01	(0.03)	0.14	0.33	(0.63)	1.01	(0.78)	3.66
CVFYX	0.54	0.01	(0.02)	0.14	0.34	(0.66)	1.02	(0.84)	3.67
CVKFX	0.52	0.10	(0.06)	(2.16)	0.34	(0.66)	1.04	(0.77)	3.67
CVRFX	0.54	0.01	(0.03)	0.13	0.34	(0.67)	0.99	(0.80)	3.69
STABX	0.09	(0.01)	(0.80)	(0.17)	0.05	(0.16)	0.23	(0.11)	0.79
PGOFX	0.79	0.10	0.10	0.22	0.80	(0.84)	1.93	(1.61)	4.27
HICMX	0.15	(0.01)	(0.34)	(0.06)	0.19	(0.25)	0.32	(0.32)	1.44

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC