Mirova Global Correlations

ESGYX Fund

USD 21.26 0.15 0.70%

The current 90-days correlation between Mirova Global Sustainable and American Funds New is 0.89 (i.e., Very poor 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

Significant diversification

The correlation between Mirova Global Sustainable and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mirova Global Sustainable and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Mirova Global Sustainable. 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

0.77	NOIAX	Natixis Oakmark Inte	Pair Corr
0.77	NOICX	Natixis Oakmark Inte	Pair Corr
0.78	NOIYX	Natixis Oakmark Intl	Pair Corr
0.73	NRCFX	Aew Real Estate	Pair Corr
0.63	NRFAX	Aew Real Estate	Pair Corr
0.73	NRFNX	Aew Real Estate	Pair Corr
0.63	NRFYX	Aew Real Estate	Pair Corr

Moving against Mirova Mutual Fund

0.4	NOANX	Natixis Oakmark	Pair Corr
0.4	LGRCX	Loomis Sayles Growth	Pair Corr
0.4	LGRNX	Loomis Sayles Growth	Pair Corr
0.4	LGRRX	Loomis Sayles Growth	Pair Corr
0.31	GCPNX	Gateway Equity Call	Pair Corr
0.36	VNVCX	Vaughan Nelson Value	Pair Corr
0.36	VNVAX	Vaughan Nelson Value	Pair Corr
0.36	VNVNX	Vaughan Nelson Value	Pair Corr
0.36	VNVYX	Vaughan Nelson Value	Pair Corr
0.44	NECOX	Natixis Oakmark	Pair Corr
0.37	VSCNX	Vaughan Nelson Small	Pair Corr

Related Correlations Analysis

	FNFPX	FFPNX	NPFCX	ANWPX	NPFFX	CNPAX	CNPEX	CNPFX	CNPCX	RNPAX
FNFPX		1.0	0.92	0.92	0.92	0.92	0.92	0.92	1.0	1.0	FNFPX
FFPNX	1.0		0.92	0.92	0.92	0.92	0.92	0.92	1.0	1.0	FFPNX
NPFCX	0.92	0.92		1.0	1.0	1.0	1.0	1.0	0.92	0.92	NPFCX
ANWPX	0.92	0.92	1.0		1.0	1.0	1.0	1.0	0.92	0.92	ANWPX
NPFFX	0.92	0.92	1.0	1.0		1.0	1.0	1.0	0.92	0.92	NPFFX
CNPAX	0.92	0.92	1.0	1.0	1.0		1.0	1.0	0.92	0.92	CNPAX
CNPEX	0.92	0.92	1.0	1.0	1.0	1.0		1.0	0.92	0.92	CNPEX
CNPFX	0.92	0.92	1.0	1.0	1.0	1.0	1.0		0.92	0.92	CNPFX
CNPCX	1.0	1.0	0.92	0.92	0.92	0.92	0.92	0.92		1.0	CNPCX
RNPAX	1.0	1.0	0.92	0.92	0.92	0.92	0.92	0.92	1.0		RNPAX
	FNFPX	FFPNX	NPFCX	ANWPX	NPFFX	CNPAX	CNPEX	CNPFX	CNPCX	RNPAX

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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
FNFPX	0.51	0.13	0.02	3.35	0.49	(0.55)	1.19	(1.11)	3.69
FFPNX	0.52	0.13	0.02	3.30	0.49	(0.55)	1.21	(1.11)	3.67
NPFCX	0.51	0.03	(0.02)	0.17	0.53	(0.57)	1.20	(1.09)	3.67
ANWPX	0.51	0.04	(0.01)	0.17	0.52	(0.54)	1.19	(1.09)	3.67
NPFFX	0.52	0.04	(0.01)	0.17	0.52	(0.55)	1.20	(1.10)	3.68
CNPAX	0.52	0.04	(0.01)	0.17	0.52	(0.54)	1.21	(1.10)	3.67
CNPEX	0.52	0.03	(0.01)	0.17	0.53	(0.57)	1.20	(1.11)	3.65
CNPFX	0.52	0.04	(0.01)	0.18	0.52	(0.56)	1.22	(1.10)	3.68
CNPCX	0.52	0.12	0.02	3.04	0.50	(0.55)	1.20	(1.11)	3.67
RNPAX	0.52	0.12	0.02	3.16	0.50	(0.56)	1.20	(1.09)	3.69

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