Eaton Vance Correlations

Mutual Funds . USA . 
Fund . Eaton Vance Government
ERGOX Fund  USD 5.32  0.01  0.19%   
The current 90-days correlation between Eaton Vance Government and Eaton Vance Msschsts is 0.58 (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

Significant diversification

The correlation between Eaton Vance Government and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Government 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 Government. 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 persons.

Moving together with Eaton Mutual Fund

  0.72EMAIX Eaton Vance MsschstsPairCorr
  0.64ERAMX Eaton Vance MultiPairCorr
  0.68ERHIX Eaton Vance HighPairCorr
  0.61ERGMX Eaton Vance GlobalPairCorr
  0.61ERIFX Eaton Vance BalancedPairCorr
  0.69ERIBX Eaton Vance IncomePairCorr
  0.64EAAMX Eaton Vance MultiPairCorr
  0.83ERSIX Eaton Vance ShortPairCorr
  0.73EABSX Eaton Vance TabsPairCorr

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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