Eventide Exponential Correlations

ETIEX Fund

USD 13.53 0.03 0.22%

The current 90-days correlation between Eventide Exponential and Yuanbao American Depositary is -0.03 (i.e., Good diversification). The correlation of Eventide Exponential 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 Exponential Correlation With Market

Poor diversification

The correlation between Eventide Exponential Technolog and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eventide Exponential Technolog 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 Exponential Technologies. 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 income.

Moving together with Eventide Mutual Fund

0.75	STRF	MicroStrategy Incorporated	Pair Corr
0.94	ETAMX	Eventide Multi Asset	Pair Corr

Moving against Eventide Mutual Fund

0.59	EXOD	Exodus Movement, Tech Boost	Pair Corr
0.68	JNPR	Juniper Networks	Pair Corr
0.52	SLNHP	Soluna Holdings Preferred	Pair Corr
0.47	DAICW	CID HoldCo, Warrants	Pair Corr
0.59	SMTK	SmartKem, Common Stock	Pair Corr
0.5	AXIL	AXIL Brands, Trending	Pair Corr

Related Correlations Analysis

	YB	VBIX	DVLT	VVPR	EXOD	ETARX	ETAMX	ETAHX	ETAGX	ETAEX
YB		-0.29	-0.56	-0.07	-0.03	0.21	0.01	0.38	-0.03	-0.19	YB
VBIX	-0.29		0.43	0.3	0.19	-0.43	-0.24	-0.26	-0.25	-0.16	VBIX
DVLT	-0.56	0.43		-0.01	-0.03	-0.41	-0.17	-0.47	-0.16	-0.03	DVLT
VVPR	-0.07	0.3	-0.01		-0.45	-0.05	0.27	0.48	0.31	0.31	VVPR
EXOD	-0.03	0.19	-0.03	-0.45		-0.41	-0.63	-0.49	-0.64	-0.59	EXOD
ETARX	0.21	-0.43	-0.41	-0.05	-0.41		0.77	0.61	0.73	0.6	ETARX
ETAMX	0.01	-0.24	-0.17	0.27	-0.63	0.77		0.53	0.98	0.93	ETAMX
ETAHX	0.38	-0.26	-0.47	0.48	-0.49	0.61	0.53		0.55	0.4	ETAHX
ETAGX	-0.03	-0.25	-0.16	0.31	-0.64	0.73	0.98	0.55		0.95	ETAGX
ETAEX	-0.19	-0.16	-0.03	0.31	-0.59	0.6	0.93	0.4	0.95		ETAEX
	YB	VBIX	DVLT	VVPR	EXOD	ETARX	ETAMX	ETAHX	ETAGX	ETAEX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ETAGX	+ 0.98	ETAMX
ETAEX	+ 0.95	ETAGX
ETAEX	+ 0.93	ETAMX
ETAMX	+ 0.77	ETARX
ETAGX	+ 0.73	ETARX
ETAHX	+ 0.61	ETARX

High negative correlations

ETAGX	- 0.64	EXOD
ETAMX	- 0.63	EXOD
ETAEX	- 0.59	EXOD
DVLT	- 0.56	YB
ETAHX	- 0.49	EXOD
ETAHX	- 0.47	DVLT

Risk-Adjusted Indicators

There is a big difference between Eventide Mutual Fund performing well and Eventide Exponential 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 Exponential'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
YB	35.04	18.44	5.17	4.83	3.23	(40.40)	15.68	(6.01)	1,009
VBIX	7.69	1.04	0.06	(0.61)	10.92	(8.55)	14.34	(14.03)	88.20
DVLT	5.11	0.04	(0.02)	(0.08)	5.79	(6.63)	12.33	(9.89)	33.36
VVPR	8.09	2.12	0.21	(11.71)	8.45	(10.10)	22.54	(11.48)	62.08
EXOD	6.75	0.09	0.04	0.16	8.76	(6.81)	16.85	(9.78)	43.33
ETARX	0.24	0.03	(0.35)	(8.51)	0.14	(0.29)	0.62	(0.37)	1.37
ETAMX	0.36	0.12	(0.04)	(1.14)	0.31	(0.43)	1.06	(0.75)	2.66
ETAHX	1.16	0.15	0.09	0.27	1.27	(1.23)	2.41	(1.87)	7.62
ETAGX	0.83	0.34	0.17	(1.78)	0.69	(0.94)	2.34	(1.46)	6.09
ETAEX	0.95	0.14	0.12	0.27	0.89	(1.13)	2.31	(2.00)	5.84

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