Eventide Large Correlations

Mutual Funds . USA . 
Fund . Eventide Large Cap
ETLIX Fund   15.29  0.01  0.07%   
The current 90-days correlation between Eventide Large Cap and Eventide Core Bond is 0.3 (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

Very poor diversification

The correlation between Eventide Large Cap 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 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 gross domestic product.

Moving together with Eventide Mutual Fund

  0.71ETARX Eventide Core BondPairCorr
  0.99ETAMX Eventide Multi AssetPairCorr
  0.86ETAHX Eventide Healthcare LifePairCorr
  0.98ETAGX Eventide GileadPairCorr
  0.97ETAEX Eventide ExponentialPairCorr
  0.99ETADX Eventide Global DividendPairCorr
  0.88ETABX Eventide Limited TermPairCorr
  0.68ETCRX Eventide Core BondPairCorr
  0.99ETCMX Eventide Multi AssetPairCorr
  0.86ETCHX Eventide Healthcare LifePairCorr
  0.98ETCGX Eventide GileadPairCorr
  0.97ETCEX Eventide ExponentialPairCorr
  0.99ETCDX Eventide Global DividendPairCorr
  0.87ETCBX Eventide Limitedterm BondPairCorr
  0.98ETGLX Eventide GileadPairCorr
  0.97ETIEX Eventide ExponentialPairCorr
  0.99ETIDX Eventide Global DividendPairCorr
  0.88ETIBX Eventide Limited TermPairCorr
  0.72ETIRX Eventide Core BondPairCorr
  0.99ETIMX Eventide Multi AssetPairCorr
  0.98ETILX Eventide GileadPairCorr
  0.86ETIHX Eventide Healthcare LifePairCorr
  1.0ETLCX Eventide Large CapPairCorr
  1.0ETLAX Eventide Large CapPairCorr
  1.0ETLNX Eventide Large CapPairCorr
  0.99ETNMX Eventide Multi AssetPairCorr
  0.86ETNHX Eventide Healthcare LifePairCorr
  0.97ETNEX Eventide ExponentialPairCorr
  0.99ETNDX Eventide Global DividendPairCorr
  0.88ETNBX Eventide Limited TermPairCorr
  0.71ETNRX Eventide Core BondPairCorr
  0.99VTSAX Vanguard Total StockPairCorr
  0.99VFIAX Vanguard 500 IndexPairCorr
  0.99VTSMX Vanguard Total StockPairCorr
  0.99VITSX Vanguard Total StockPairCorr
  0.99VSMPX Vanguard Total StockPairCorr
  0.99VSTSX Vanguard Total StockPairCorr
  0.99VFINX Vanguard 500 IndexPairCorr
  0.99VFFSX 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  0.23  0.01 (0.37) 0.28  0.17 
(0.27)
 0.37 
(0.37)
 1.24 
ETAMX  0.35  0.04 (0.06) 0.21  0.33 
(0.42)
 1.06 
(0.75)
 2.66 
ETAHX  1.15  0.13  0.08  0.27  1.24 
(1.23)
 2.41 
(1.87)
 7.62 
ETAGX  0.82  0.17  0.15  0.31  0.70 
(0.91)
 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 
ETADX  0.64  0.04  0.02  0.18  0.73 
(0.70)
 1.83 
(1.38)
 4.67 
ETABX  0.09  0.02 (0.85) 2.16  0.00 
(0.15)
 0.20 
(0.10)
 0.50 
ETCRX  0.23  0.01 (0.37) 0.21  0.19 
(0.28)
 0.50 
(0.37)
 1.25 
ETCMX  0.37  0.03 (0.06) 0.19  0.36 
(0.43)
 1.07 
(0.75)
 2.68 
ETCHX  1.14  0.13  0.08  0.27  1.24 
(1.23)
 2.39 
(1.84)
 7.60 

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