Eventide Limited-term Correlations

ETNBX Fund

USD 10.09 0.02 0.20%

The current 90-days correlation between Eventide Limited Term and Matson Money Equity is 0.04 (i.e., Significant diversification). The correlation of Eventide Limited-term 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 Limited-term Correlation With Market

Average diversification

The correlation between Eventide Limited Term Bond and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eventide Limited Term 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 Limited Term 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 bureau of labor statistics.

Moving together with Eventide Mutual Fund

0.69	ETAMX	Eventide Multi Asset	Pair Corr
0.91	ETAHX	Eventide Healthcare Life	Pair Corr
0.88	ETAGX	Eventide Gilead	Pair Corr
0.78	ETAEX	Eventide Exponential	Pair Corr
0.85	ETADX	Eventide Global Dividend	Pair Corr
0.98	ETABX	Eventide Limited Term	Pair Corr
0.73	ETCRX	Eventide Core Bond	Pair Corr
0.9	ETCMX	Eventide Multi Asset	Pair Corr
0.69	ETCHX	Eventide Healthcare Life	Pair Corr
0.78	ETCEX	Eventide Exponential	Pair Corr
0.85	ETCDX	Eventide Global Dividend	Pair Corr
0.97	ETCBX	Eventide Limitedterm Bond	Pair Corr
0.88	ETGLX	Eventide Gilead	Pair Corr
0.65	ETIDX	Eventide Global Dividend	Pair Corr
0.73	ETIBX	Eventide Limited Term	Pair Corr
0.94	ETIRX	Eventide Core Bond	Pair Corr
0.91	ETIMX	Eventide Multi Asset	Pair Corr
0.68	ETILX	Eventide Gilead	Pair Corr
0.69	ETIHX	Eventide Healthcare Life	Pair Corr
0.87	ETLIX	Eventide Large Cap	Pair Corr
0.86	ETLCX	Eventide Large Cap	Pair Corr
0.66	ETLAX	Eventide Large Cap	Pair Corr
0.88	ETLNX	Eventide Large Cap	Pair Corr
0.91	ETNMX	Eventide Multi Asset	Pair Corr
0.91	ETNHX	Eventide Healthcare Life	Pair Corr
0.86	ETNDX	Eventide Global Dividend	Pair Corr
0.94	ETNRX	Eventide Core Bond	Pair Corr
0.89	VBIRX	Vanguard Short Term	Pair Corr
0.89	VFSUX	Vanguard Short Term	Pair Corr
0.98	VFSIX	Vanguard Short Term	Pair Corr
0.98	VFSTX	Vanguard Short Term	Pair Corr
0.94	VBITX	Vanguard Short Term	Pair Corr
0.95	VBISX	Vanguard Short Term	Pair Corr
0.95	LALDX	Lord Abbett Short	Pair Corr
1.0	VSCSX	Vanguard Short Term	Pair Corr
0.97	LDLAX	Lord Abbett Short	Pair Corr
0.96	LDLRX	Lord Abbett Short	Pair Corr

Related Correlations Analysis

	FMVUX	SMAAX	STPXX	ELMXX	PMTXX	VMRXX	AEYXX
FMVUX		0.95	0.72	0.67	0.67	0.73	0.0	FMVUX
SMAAX	0.95		0.75	0.7	0.7	0.77	0.0	SMAAX
STPXX	0.72	0.75		0.88	0.88	0.94	0.0	STPXX
ELMXX	0.67	0.7	0.88		1.0	0.83	0.0	ELMXX
PMTXX	0.67	0.7	0.88	1.0		0.83	0.0	PMTXX
VMRXX	0.73	0.77	0.94	0.83	0.83		0.0	VMRXX
AEYXX	0.0	0.0	0.0	0.0	0.0	0.0		AEYXX
	FMVUX	SMAAX	STPXX	ELMXX	PMTXX	VMRXX	AEYXX

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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

PMTXX	+ 1.0	ELMXX
SMAAX	+ 0.95	FMVUX
VMRXX	+ 0.94	STPXX
ELMXX	+ 0.88	STPXX
PMTXX	+ 0.88	STPXX
VMRXX	+ 0.83	ELMXX

High negative correlations

AEYXX	- 0.0	VMRXX
AEYXX	- 0.0	PMTXX
AEYXX	- 0.0	ELMXX
AEYXX	- 0.0	STPXX
AEYXX	- 0.0	SMAAX
AEYXX	- 0.0	FMVUX

Risk-Adjusted Indicators

There is a big difference between Eventide Mutual Fund performing well and Eventide Limited-term 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 Limited-term'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
FMVUX	0.77	0.08	0.08	0.21	0.70	(0.89)	1.98	(1.37)	5.60
SMAAX	0.11	0.03	(0.55)	1.06	0.00	(0.16)	0.21	(0.10)	0.72
STPXX	0.03	0.00	0.00	0.49	0.00	0.00	0.00	0.00	1.01
ELMXX	0.03	0.01	0.00	(3.32)	0.00	0.00	0.00	0.00	1.01
PMTXX	0.03	0.01	0.00	(3.32)	0.00	0.00	0.00	0.00	1.01
VMRXX	0.03	0.00	0.00	1.43	0.00	0.00	0.00	0.00	1.01
AEYXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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