Mirova Global Correlations

MGGNX Fund

USD 8.80 0.02 0.23%

The current 90-days correlation between Mirova Global Green and Ultra Short Term Fixed is -0.18 (i.e., Good 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 Green and DJI is 0.06 (i.e., Significant 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, which includes a position in Mirova Global Green. 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

0.71	LGANX	Loomis Sayles Limited	Pair Corr
0.62	LGBNX	Loomis Sayles Investment	Pair Corr
0.62	LIGRX	Loomis Sayles Investment	Pair Corr
0.77	NRCFX	Aew Real Estate	Pair Corr
0.78	NRFAX	Aew Real Estate	Pair Corr
0.78	NRFNX	Aew Real Estate	Pair Corr
0.78	NRFYX	Aew Real Estate	Pair Corr

Related Correlations Analysis

	TSDUX	USCBX	RSHMX	BXDCX	MFIRX	PBBIX	LSHEX
TSDUX		-0.26	-0.17	0.64	0.13	0.74	0.94	TSDUX
USCBX	-0.26		0.97	0.33	0.6	0.23	-0.27	USCBX
RSHMX	-0.17	0.97		0.47	0.73	0.33	-0.21	RSHMX
BXDCX	0.64	0.33	0.47		0.76	0.85	0.45	BXDCX
MFIRX	0.13	0.6	0.73	0.76		0.45	0.0	MFIRX
PBBIX	0.74	0.23	0.33	0.85	0.45		0.66	PBBIX
LSHEX	0.94	-0.27	-0.21	0.45	0.0	0.66		LSHEX
	TSDUX	USCBX	RSHMX	BXDCX	MFIRX	PBBIX	LSHEX

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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

RSHMX	+ 0.97	USCBX
LSHEX	+ 0.94	TSDUX
PBBIX	+ 0.85	BXDCX
MFIRX	+ 0.76	BXDCX
PBBIX	+ 0.74	TSDUX
MFIRX	+ 0.73	RSHMX

High negative correlations

LSHEX	- 0.27	USCBX
USCBX	- 0.26	TSDUX
LSHEX	- 0.21	RSHMX
RSHMX	- 0.17	TSDUX
LSHEX	- 0.0	MFIRX

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
TSDUX	0.04	0.01	0.00	1.16	0.00	0.00	0.10	0.00	0.10
USCBX	0.15	0.01	(0.29)	0.01	0.24	(0.22)	0.39	(0.29)	1.74
RSHMX	0.24	0.02	(0.23)	(0.06)	0.37	(0.27)	0.42	(0.52)	1.98
BXDCX	0.09	0.01	(0.84)	(0.53)	0.00	(0.16)	0.22	(0.11)	0.65
MFIRX	0.09	0.01	(0.50)	(0.77)	0.00	(0.23)	0.19	(0.19)	0.76
PBBIX	0.12	0.01	(0.64)	0.23	0.00	(0.19)	0.29	(0.20)	0.98
LSHEX	1.41	0.73	0.44	0.66	0.92	(1.77)	3.44	(1.87)	8.17

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