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Mission-correlated investing

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Mission-correlated investing is any investment strategy that produces more money in worlds where money is relatively more valuable. That is, investments with returns that are correlated with the relative cost-effectiveness of future giving opportunities.

Mission-correlated investing increases the expected amount of good. This is because the contribution of an altruistic investor to the total good can be thought of as the amount of money they donate multiplied by the impact per dollar of the opportunities they fund[1]. All else equal, increasing the correlation between the amount of money and the impact per dollar increases the investor's expected contribution.

Some of these strategies are 'mission hedging', though strictly speaking these strategies will only hedge (reduce the variance of outcomes) in certain situations. It is also possible that a mission-correlated investing increases the variance of future outcomes. 

There are many specific varieties including 'investing in evil to do good', investing in companies developing new risky technologies like AI, and investing in a way that has low or negative correlation with other altruists. The average investor's aversion to market risk can be viewed as coming from the mission-correlation between the market and their mission to consume more.

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