Eventide Core Correlations

Mutual Funds . USA . 
Fund . Eventide Core Bond
ETARX Fund  USD 8.21  0.02  0.24%   
The current 90-days correlation between Eventide Core Bond and Eventide Global Dividend is 0.29 (i.e., Modest diversification). The correlation of Eventide Core 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.

Eventide Core Correlation With Market

Modest diversification

The correlation between Eventide Core Bond and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eventide Core Bond 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 Eventide Core Bond. 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 metropolitan statistical area.

Moving together with Eventide Mutual Fund

  0.75ETAMX Eventide Multi AssetPairCorr
  0.83ETAHX Eventide Healthcare LifePairCorr
  0.71ETAGX Eventide GileadPairCorr
  0.68ETADX Eventide Global DividendPairCorr
  0.93ETABX Eventide Limited TermPairCorr
  1.0ETCRX Eventide Core BondPairCorr
  0.75ETCMX Eventide Multi AssetPairCorr
  0.82ETCHX Eventide Healthcare LifePairCorr
  0.71ETCGX Eventide GileadPairCorr
  0.68ETCDX Eventide Global DividendPairCorr
  0.94ETCBX Eventide Limitedterm BondPairCorr
  0.71ETGLX Eventide GileadPairCorr
  0.68ETIDX Eventide Global DividendPairCorr
  0.93ETIBX Eventide Limited TermPairCorr
  1.0ETIRX Eventide Core BondPairCorr
  0.75ETIMX Eventide Multi AssetPairCorr
  0.71ETILX Eventide GileadPairCorr
  0.83ETIHX Eventide Healthcare LifePairCorr
  0.71ETLIX Eventide Large CapPairCorr
  0.7ETLCX Eventide Large CapPairCorr
  0.71ETLAX Eventide Large CapPairCorr
  0.71ETLNX Eventide Large CapPairCorr
  0.75ETNMX Eventide Multi AssetPairCorr
  0.83ETNHX Eventide Healthcare LifePairCorr
  0.68ETNDX Eventide Global DividendPairCorr
  0.94ETNBX Eventide Limited TermPairCorr
  1.0ETNRX Eventide Core BondPairCorr
  0.87VBTLX Vanguard Total BondPairCorr
  0.97VBMFX Vanguard Total BondPairCorr
  0.97VBTIX Vanguard Total BondPairCorr
  0.97VTBSX Vanguard Total BondPairCorr
  0.97VTBIX Vanguard Total BondPairCorr
  0.97VTBNX Vanguard Total BondPairCorr
  0.98FBOFX American FundsPairCorr
  0.98FFBOX American FundsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Eventide Mutual Fund performing well and Eventide Core 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 Eventide Core'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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