Eaton Vance Correlations

Mutual Funds . USA . 
Fund . Eaton Vance Richard
ERBIX Fund  USD 19.53  0.08  0.41%   
The current 90-days correlation between Eaton Vance Richard and Eaton Vance Richard 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

Very poor diversification

The correlation between Eaton Vance Richard and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Richard 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 Richard. 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 gross domestic product.

Moving together with Eaton Mutual Fund

  0.68EMAIX Eaton Vance MsschstsPairCorr
  0.74ERBCX Eaton Vance RichardPairCorr
  0.64ERBAX Eaton Vance RichardPairCorr
  0.64ERHIX Eaton Vance HighPairCorr
  0.97ERGMX Eaton Vance GlobalPairCorr
  0.63ERIFX Eaton Vance BalancedPairCorr
  0.64ERLVX Eaton Vance LargePairCorr
  0.96EAALX Eaton Vance AtlantaPairCorr
  0.93ERSGX Eaton Vance SmallPairCorr
  0.63EABLX Eaton Vance FloatingPairCorr
  0.91EAASX Eaton Vance AtlantaPairCorr
  0.99EACPX Eaton Vance TaxPairCorr
  0.61EADOX Eaton Vance EmergingPairCorr
  0.67EADIX Eaton Vance TaxPairCorr
  1.0EAERX Eaton Vance StockPairCorr
  0.64EAEAX Eaton Vance TaxPairCorr
  0.63EAFVX Eaton Vance ValPairCorr
  0.65EAFHX Eaton Vance FloatingPairCorr
  0.64EAFAX Eaton Vance FloatingPairCorr
  0.96EAGMX Eaton Vance GlobalPairCorr
  0.96EAGCX Eaton Vance AtlantPairCorr
  0.7EAIIX Eaton Vance DiversifiedPairCorr
  0.8EALDX Eaton Vance ShortPairCorr
  1.0EALCX Eaton Vance GrowthPairCorr
  0.65EALBX Eaton Vance TabsPairCorr
  0.73EALTX Ev Tab LadPairCorr
  0.79EAPCX Parametric CommodityPairCorr

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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