Correlation Between Mirova Global and Jhancock Global
Can any of the company-specific risk be diversified away by investing in both Mirova Global and Jhancock 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 Mirova Global and Jhancock Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mirova Global Sustainable and Jhancock Global Equity, you can compare the effects of market volatilities on Mirova Global and Jhancock 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 Mirova Global with a short position of Jhancock Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mirova Global and Jhancock Global.
Diversification Opportunities for Mirova Global and Jhancock Global
0.97 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Mirova and Jhancock is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding Mirova Global Sustainable and Jhancock Global Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jhancock Global Equity and Mirova Global 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 Mirova Global Sustainable are associated (or correlated) with Jhancock Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jhancock Global Equity has no effect on the direction of Mirova Global i.e., Mirova Global and Jhancock Global go up and down completely randomly.
Pair Corralation between Mirova Global and Jhancock Global
Assuming the 90 days horizon Mirova Global is expected to generate 1.14 times less return on investment than Jhancock Global. In addition to that, Mirova Global is 1.09 times more volatile than Jhancock Global Equity. It trades about 0.18 of its total potential returns per unit of risk. Jhancock Global Equity is currently generating about 0.22 per unit of volatility. If you would invest 1,221 in Jhancock Global Equity on May 28, 2025 and sell it today you would earn a total of 97.00 from holding Jhancock Global Equity or generate 7.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mirova Global Sustainable vs. Jhancock Global Equity
Performance |
| Timeline |
| Mirova Global Sustainable |
| Jhancock Global Equity |
Mirova Global and Jhancock Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mirova Global and Jhancock Global
The main advantage of trading using opposite Mirova Global and Jhancock Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mirova Global position performs unexpectedly, Jhancock 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 Jhancock Global will offset losses from the drop in Jhancock Global's long position.| Mirova Global vs. Smallcap World Fund | Mirova Global vs. Ultra Short Fixed Income | Mirova Global vs. Ab Select Equity | Mirova Global vs. Touchstone International Equity |
| Jhancock Global vs. California Municipal Portfolio | Jhancock Global vs. Calvert Bond Portfolio | Jhancock Global vs. Ab Bond Inflation | Jhancock Global vs. Short Intermediate Bond 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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