Eaton Vance Correlations

Mutual Funds . USA . 
Fund . Eaton Vance Floating Rate
EIFAX Fund  USD 9.86  0.00  0.00%   
The current 90-days correlation between Eaton Vance Floating and Prudential Short Duration is 0.74 (i.e., Poor 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

Modest diversification

The correlation between Eaton Vance Floating Rate and DJI is 0.29 (i.e., Modest 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

  1.0OOSYX Oppenheimer SeniorPairCorr
  1.0OOSIX Oppenheimer SeniorPairCorr
  0.99LFRIX Floating RatePairCorr
  0.99LARCX Floating RatePairCorr
  0.99LFRRX Lord Abbett InvPairCorr
  0.99LFRFX Floating RatePairCorr
  0.99LRRRX Floating RatePairCorr
  0.99LRRTX Floating RatePairCorr
  0.99LRRVX Floating RatePairCorr
  0.99LRRKX Floating RatePairCorr
  0.61PMPIX Precious Metals Ultr Steady GrowthPairCorr
  0.61PMPSX Precious Metals Ultr Steady GrowthPairCorr
  0.64FRGOX Franklin Gold Precious Steady GrowthPairCorr
  0.61MIDSX Midas Fund MidasPairCorr
  0.71FGPMX Franklin Gold And Steady GrowthPairCorr
  0.71FKRCX Franklin Gold Precious Steady GrowthPairCorr
  0.98PSHAX Short Term FundPairCorr
  0.97PALCX Allianzgi Global AllPairCorr
  0.97KAGCX Kensington Dynamic GrowthPairCorr
  0.94EMAYX Enterprise Mergers AndPairCorr
  0.95LEVIX Lazard Equity CentratedPairCorr
  0.96FFEGX Fidelity Freedom IndexPairCorr
  0.94FFFCX Fidelity Freedom 2010PairCorr
  0.94RYRUX Russell 2000 2x Steady GrowthPairCorr
  0.97MSTSX Morningstar UnconstrainedPairCorr
  0.94DCEMX Dunham Emerging MarketsPairCorr
  0.98DQIYX Dreyfus Equity IncomePairCorr
  0.93RIVKX American Funds InterPairCorr
  0.98MFLDX Marketfield Fund MarPairCorr
  0.92FISVX Fidelity Small CapPairCorr
  0.97VFIAX Vanguard 500 IndexPairCorr
  0.95SWYAX Schwab Target 2010PairCorr
  0.97FASCX Franklin K2 AlternativePairCorr
  0.97VFINX Vanguard 500 IndexPairCorr
  0.93SPSDX Sterling Capital BehPairCorr
  0.96RRTLX T Rowe PricePairCorr
  0.92HBLYX Hartford BalancedPairCorr
  0.96FDEGX Fidelity Growth StraPairCorr
  0.97FNILX Fidelity Zero LargePairCorr

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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