Eaton Vance Correlations

Mutual Funds . USA . 
Fund . Eaton Vance Floating Rate
EAFAX Fund  USD 9.86  0.01  0.10%   
The current 90-days correlation between Eaton Vance Floating and Eaton Vance Msschsts is 0.46 (i.e., Very weak 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

Very weak diversification

The correlation between Eaton Vance Floating Rate and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Floating Rate 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 Floating Rate. 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

  0.93EMAIX Eaton Vance MsschstsPairCorr
  0.61EMOIX Eaton Vance MunicipalPairCorr
  0.89ERASX Eaton Vance AtlantaPairCorr
  1.0ERAMX Eaton Vance MultiPairCorr
  0.99ERBIX Eaton Vance RichardPairCorr
  0.98ERBCX Eaton Vance RichardPairCorr
  0.99ERBAX Eaton Vance RichardPairCorr
  0.98EREMX Eaton Vance ParametricPairCorr
  0.98ERHIX Eaton Vance HighPairCorr
  0.97ERGMX Eaton Vance GlobalPairCorr
  0.98ERIFX Eaton Vance BalancedPairCorr
  0.98ERIBX Eaton Vance IncomePairCorr
  0.97ERISX Parametric Intl EquityPairCorr
  0.95ERLGX Eaton Vance AtlantaPairCorr
  0.97ERLVX Eaton Vance LargePairCorr
  0.99EAAMX Eaton Vance MultiPairCorr
  0.95EAALX Eaton Vance AtlantaPairCorr
  0.97ERSTX Eaton Vance LargePairCorr
  0.88ERSMX Eaton Vance AtlantaPairCorr
  0.9ERSIX Eaton Vance ShortPairCorr
  0.91ERSGX Eaton Vance SmallPairCorr
  1.0EABLX Eaton Vance FloatingPairCorr
  0.88EAASX Eaton Vance AtlantaPairCorr
  0.97EACPX Eaton Vance TaxPairCorr
  0.97EACOX Eaton Vance GlobalPairCorr
  0.96EABSX Eaton Vance TabsPairCorr
  0.98EADOX Eaton Vance EmergingPairCorr
  0.98EADIX Eaton Vance TaxPairCorr
  0.98EAERX Eaton Vance StockPairCorr
  0.98EAEMX Parametric EmergingPairCorr
  0.98EAEAX Eaton Vance TaxPairCorr
  0.97EAFVX Eaton Vance ValPairCorr
  1.0EAFHX 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
EMAIX  0.11  0.01 (0.74) 0.75  0.00 
(0.16)
 0.21 
(0.20)
 0.72 
EMOCX  0.16 (0.01)(0.50)(0.11) 0.19 
(0.22)
 0.36 
(0.36)
 1.18 
EMOAX  0.18 (0.01)(0.47)(0.08) 0.22 
(0.22)
 0.37 
(0.36)
 1.28 
EMOIX  0.17 (0.01)(0.44)(0.06) 0.20 
(0.23)
 0.37 
(0.36)
 1.10 
EIM  0.42 (0.04)(0.16) 0.02  0.64 
(0.45)
 0.86 
(1.02)
 3.21 
ENYIX  0.16 (0.01)(0.49)(0.14) 0.19 
(0.21)
 0.44 
(0.33)
 1.21 
ERASX  0.74  0.00 (0.01) 0.13  0.85 
(0.80)
 1.59 
(1.57)
 5.35 
ERAMX  0.12  0.04 (0.63) 0.65  0.00 
(0.21)
 0.42 
(0.10)
 0.81 
ERBIX  0.52  0.11  0.09  0.29  0.33 
(0.61)
 1.74 
(1.07)
 3.26 
ERBCX  0.53  0.10  0.09  0.28  0.34 
(0.62)
 1.73 
(1.10)
 3.30 

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