Eventide Large Correlations

ETLAX Fund  USD 15.19  0.01  0.07%   
The current 90-days correlation between Eventide Large Cap and Eventide Core Bond is 0.34 (i.e., Weak diversification). The correlation of Eventide Large 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 Large Correlation With Market

Good diversification

The correlation between Eventide Large Cap and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eventide Large Cap 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 Large Cap. 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 Eventide Mutual Fund

  0.72ETARX Eventide Core BondPairCorr
  0.99ETAMX Eventide Multi AssetPairCorr
  0.98ETAGX Eventide GileadPairCorr
  0.95ETAEX Eventide ExponentialPairCorr
  0.99ETADX Eventide Global DividendPairCorr
  0.89ETABX Eventide Limited TermPairCorr
  0.7ETCRX Eventide Core BondPairCorr
  0.97ETCMX Eventide Multi AssetPairCorr
  0.84ETCHX Eventide Healthcare LifePairCorr
  0.97ETCGX Eventide GileadPairCorr
  0.95ETCEX Eventide ExponentialPairCorr
  0.97ETCDX Eventide Global DividendPairCorr
  0.87ETCBX Eventide Limitedterm BondPairCorr
  0.99ETGLX Eventide GileadPairCorr
  0.95ETIEX Eventide ExponentialPairCorr
  0.97ETIDX Eventide Global DividendPairCorr
  0.89ETIBX Eventide Limited TermPairCorr
  0.7ETIRX Eventide Core BondPairCorr
  0.97ETIMX Eventide Multi AssetPairCorr
  0.99ETILX Eventide GileadPairCorr
  0.84ETIHX Eventide Healthcare LifePairCorr
  1.0ETLIX Eventide Large CapPairCorr
  0.98ETLCX Eventide Large CapPairCorr
  0.98ETLNX Eventide Large CapPairCorr
  0.97ETNMX Eventide Multi AssetPairCorr
  0.84ETNHX Eventide Healthcare LifePairCorr
  0.95ETNEX Eventide ExponentialPairCorr
  0.97ETNDX Eventide Global DividendPairCorr
  0.88ETNBX Eventide Limited TermPairCorr
  0.69ETNRX Eventide Core BondPairCorr
  0.65VTSAX Vanguard Total StockPairCorr
  0.65VFIAX Vanguard 500 IndexPairCorr
  0.65VTSMX Vanguard Total StockPairCorr
  0.65VITSX Vanguard Total StockPairCorr
  0.65VSMPX Vanguard Total StockPairCorr
  0.65VSTSX Vanguard Total StockPairCorr
  0.65VFINX Vanguard 500 IndexPairCorr
  0.65VFFSX Vanguard 500 IndexPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Eventide Mutual Fund performing well and Eventide Large 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 Large'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
ETARX  0.24  0.03 (0.35)(8.51) 0.14 
 0.62 
 1.37 
ETAMX  0.36  0.12 (0.04)(1.14) 0.31 
 1.06 
 2.66 
ETAHX  1.16  0.15  0.09  0.27  1.27 
 2.41 
 7.62 
ETAGX  0.83  0.34  0.17 (1.78) 0.69 
 2.34 
 6.09 
ETAEX  0.95  0.14  0.12  0.27  0.89 
 2.31 
 5.84 
ETADX  0.65  0.19  0.04 (0.97) 0.72 
 1.83 
 4.67 
ETABX  0.10  0.02 (0.81) 10.41  0.00 
 0.20 
 0.61 
ETCRX  0.24  0.03 (0.33)(1.54) 0.16 
 0.50 
 1.64 
ETCMX  0.37  0.03 (0.06) 0.19  0.36 
 1.07 
 2.68 
ETCHX  1.14  0.13  0.08  0.27  1.24 
 2.39 
 7.60