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 Investment and Mirova Global Green, 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
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Loomis and Mirova is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Loomis Sayles Investment and Mirova Global Green in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mirova Global Green 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 Investment 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 Green 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 is expected to generate 1.21 times less return on investment than Mirova Global. In addition to that, Loomis Sayles is 1.27 times more volatile than Mirova Global Green. It trades about 0.1 of its total potential returns per unit of risk. Mirova Global Green is currently generating about 0.15 per unit of volatility. If you would invest 838.00 in Mirova Global Green on August 28, 2024 and sell it today you would earn a total of 41.00 from holding Mirova Global Green or generate 4.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.21% |
| Values | Daily Returns |
Loomis Sayles Investment vs. Mirova Global Green
Performance |
| Timeline |
| Loomis Sayles Investment |
| Mirova Global Green |
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. Asg Managed Futures | Loomis Sayles vs. Asg Managed Futures | Loomis Sayles vs. Natixis Oakmark | Loomis Sayles vs. Natixis Oakmark International |
| Mirova Global vs. VanEck Green Bond | Mirova Global vs. Calvert Green Bond | Mirova Global vs. Tiaa Cref Social Choice | Mirova Global vs. Asg Managed Futures |
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 CEOs Directory module to screen CEOs from public companies around the world.
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