Correlation Between Loomis Sayles and Mirova Global
Can any of the company-specific risk be diversified away by investing in both Loomis Sayles and Mirova Global at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Loomis Sayles and Mirova Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Loomis Sayles Growth and Mirova Global Sustainable, you can compare the effects of market volatilities on Loomis Sayles and Mirova Global and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Loomis Sayles with a short position of Mirova Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loomis Sayles and Mirova Global.
Diversification Opportunities for Loomis Sayles and Mirova Global
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Loomis and Mirova is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Loomis Sayles Growth and Mirova Global Sustainable in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mirova Global Sustainable and Loomis Sayles is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Loomis Sayles Growth are associated (or correlated) with Mirova Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mirova Global Sustainable has no effect on the direction of Loomis Sayles i.e., Loomis Sayles and Mirova Global go up and down completely randomly.
Pair Corralation between Loomis Sayles and Mirova Global
Assuming the 90 days horizon Loomis Sayles Growth is expected to generate 1.55 times more return on investment than Mirova Global. However, Loomis Sayles is 1.55 times more volatile than Mirova Global Sustainable. It trades about 0.09 of its potential returns per unit of risk. Mirova Global Sustainable is currently generating about 0.1 per unit of risk. If you would invest 1,870 in Loomis Sayles Growth on September 12, 2024 and sell it today you would earn a total of 518.00 from holding Loomis Sayles Growth or generate 27.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Loomis Sayles Growth vs. Mirova Global Sustainable
Performance |
| Timeline |
| Loomis Sayles Growth |
| Mirova Global Sustainable |
Loomis Sayles and Mirova Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loomis Sayles and Mirova Global
The main advantage of trading using opposite Loomis Sayles and Mirova Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loomis Sayles position performs unexpectedly, Mirova Global can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Mirova Global will offset losses from the drop in Mirova Global's long position.| Loomis Sayles vs. Loomis Sayles Growth | Loomis Sayles vs. Loomis Sayles Growth | Loomis Sayles vs. Loomis Sayles Growth | Loomis Sayles vs. Diamond Hill Large |
| Mirova Global vs. American Funds New | Mirova Global vs. American Funds New | Mirova Global vs. New Perspective Fund | Mirova Global vs. New Perspective Fund |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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