Eaton Vance Correlations

Mutual Funds . USA . 
Fund . Eaton Vance Tax Managed
EAEAX Fund  USD 37.84  0.20  0.53%   
The current 90-days correlation between Eaton Vance Tax and Eaton Vance Tax Managed is 0.94 (i.e., Almost no diversification). The correlation of Eaton Vance 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.

Eaton Vance Correlation With Market

Almost no diversification

The correlation between Eaton Vance Tax Managed and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Tax Managed and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eaton Vance Tax Managed. 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 nation.

Moving together with Eaton Mutual Fund

  0.92EMAIX Eaton Vance MsschstsPairCorr
  0.63EMOIX Eaton Vance MunicipalPairCorr
  0.94ERASX Eaton Vance AtlantaPairCorr
  0.97ERAMX Eaton Vance MultiPairCorr
  0.76ERBIX Eaton Vance RichardPairCorr
  0.99ERBCX Eaton Vance RichardPairCorr
  0.99ERBAX Eaton Vance RichardPairCorr
  0.98EREMX Eaton Vance ParametricPairCorr
  0.97ERHIX Eaton Vance HighPairCorr
  0.73ERGMX Eaton Vance GlobalPairCorr
  0.99ERIFX Eaton Vance BalancedPairCorr
  0.96ERIBX Eaton Vance IncomePairCorr
  0.96ERISX Parametric Intl EquityPairCorr
  0.95ERLGX Eaton Vance AtlantaPairCorr
  0.76ERLVX Eaton Vance LargePairCorr
  0.97EAAMX Eaton Vance MultiPairCorr
  0.78EAALX Eaton Vance AtlantaPairCorr
  0.99ERSTX Eaton Vance LargePairCorr
  0.94ERSMX Eaton Vance AtlantaPairCorr
  0.66ERSIX Eaton Vance ShortPairCorr
  0.74ERSGX Eaton Vance SmallPairCorr
  0.75EABLX Eaton Vance FloatingPairCorr
  0.68EAASX Eaton Vance AtlantaPairCorr
  0.75EACPX Eaton Vance TaxPairCorr
  0.97EACOX Eaton Vance GlobalPairCorr
  0.94EABSX Eaton Vance TabsPairCorr
  0.73EADOX Eaton Vance EmergingPairCorr
  0.99EADIX Eaton Vance TaxPairCorr
  1.0EAERX Eaton Vance StockPairCorr
  0.71EAEMX Parametric EmergingPairCorr
  0.76EAFVX Eaton Vance ValPairCorr
  0.98EAFHX Eaton Vance FloatingPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Eaton Mutual Fund performing well and Eaton Vance 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 Eaton Vance'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.

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