Eventide Exponential Correlations

ETNEX Fund

USD 13.39 0.47 3.39%

The current 90-days correlation between Eventide Exponential and Technology Fund Investor is 0.14 (i.e., Average 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

Good diversification

The correlation between Eventide Exponential Technolog and DJI is -0.09 (i.e., Good 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 services.

Moving together with Eventide Mutual Fund

0.72	ETARX	Eventide Core Bond	Pair Corr
0.64	ETAMX	Eventide Multi Asset	Pair Corr
0.88	ETAEX	Eventide Exponential	Pair Corr
0.64	ETABX	Eventide Limited Term	Pair Corr
0.62	ETCRX	Eventide Core Bond	Pair Corr
0.64	ETCMX	Eventide Multi Asset	Pair Corr
0.85	ETCEX	Eventide Exponential	Pair Corr
0.63	ETCBX	Eventide Limitedterm Bond	Pair Corr
1.0	ETIEX	Eventide Exponential	Pair Corr
0.68	ETIRX	Eventide Core Bond	Pair Corr
0.67	ETIMX	Eventide Multi Asset	Pair Corr
0.71	ETLIX	Eventide Large Cap	Pair Corr
0.68	ETLCX	Eventide Large Cap	Pair Corr
0.7	ETLAX	Eventide Large Cap	Pair Corr
0.7	ETLNX	Eventide Large Cap	Pair Corr
0.67	ETNMX	Eventide Multi Asset	Pair Corr
0.62	ETNBX	Eventide Limited Term	Pair Corr
0.71	ETNRX	Eventide Core Bond	Pair Corr
0.77	VITAX	Vanguard Information	Pair Corr
0.61	CCIFX	Columbia Seligman	Pair Corr
0.81	FSPTX	Technology Portfolio	Pair Corr
0.72	FSELX	Fidelity Select Semi	Pair Corr
0.84	FSCSX	Software And It	Pair Corr
0.61	SLMCX	Columbia Seligman	Pair Corr
0.78	SCICX	Columbia Seligman	Pair Corr
0.79	WSTRX	Ivy Science And	Pair Corr

Related Correlations Analysis

	RYTIX	JSVTX	JVSIX	RYOIX	SISAX	NSDVX	FMGIX	BTTRX	FCIVX	RWDIX
RYTIX		-0.49	-0.49	0.68	0.72	-0.49	0.62	-0.22	0.64	0.63	RYTIX
JSVTX	-0.49		1.0	-0.59	0.22	0.69	-0.42	0.14	-0.38	-0.04	JSVTX
JVSIX	-0.49	1.0		-0.58	0.22	0.69	-0.42	0.14	-0.38	-0.04	JVSIX
RYOIX	0.68	-0.59	-0.58		0.28	-0.85	0.75	-0.07	0.74	0.44	RYOIX
SISAX	0.72	0.22	0.22	0.28		-0.01	0.39	-0.16	0.41	0.73	SISAX
NSDVX	-0.49	0.69	0.69	-0.85	-0.01		-0.6	0.01	-0.57	-0.12	NSDVX
FMGIX	0.62	-0.42	-0.42	0.75	0.39	-0.6		-0.18	0.95	0.34	FMGIX
BTTRX	-0.22	0.14	0.14	-0.07	-0.16	0.01	-0.18		-0.24	0.01	BTTRX
FCIVX	0.64	-0.38	-0.38	0.74	0.41	-0.57	0.95	-0.24		0.39	FCIVX
RWDIX	0.63	-0.04	-0.04	0.44	0.73	-0.12	0.34	0.01	0.39		RWDIX
	RYTIX	JSVTX	JVSIX	RYOIX	SISAX	NSDVX	FMGIX	BTTRX	FCIVX	RWDIX

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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

JVSIX	+ 1.0	JSVTX
FCIVX	+ 0.95	FMGIX
FMGIX	+ 0.75	RYOIX
FCIVX	+ 0.74	RYOIX
RWDIX	+ 0.73	SISAX
SISAX	+ 0.72	RYTIX

High negative correlations

NSDVX	- 0.85	RYOIX
FMGIX	- 0.6	NSDVX
RYOIX	- 0.59	JSVTX
RYOIX	- 0.58	JVSIX
FCIVX	- 0.57	NSDVX
NSDVX	- 0.49	RYTIX

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
RYTIX	0.98	0.10	0.06	1.13	1.33	(0.94)	1.91	(1.77)	6.27
JSVTX	0.74	(0.11)	0.00	(1.82)	0.00	0.00	1.59	(1.41)	4.36
JVSIX	0.76	(0.14)	0.00	(0.13)	0.00	0.00	1.57	(1.40)	4.44
RYOIX	0.86	0.23	0.23	0.35	0.74	(0.99)	2.20	(1.46)	4.40
SISAX	0.44	(0.02)	(0.03)	0.00	0.67	(0.39)	0.90	(1.00)	3.59
NSDVX	0.70	(0.10)	0.00	(0.09)	0.00	0.00	1.57	(1.49)	5.84
FMGIX	0.37	0.00	(0.02)	0.06	0.47	(0.41)	0.79	(0.78)	2.14
BTTRX	0.01	0.00	0.00	2.21	0.00	0.00	0.03	0.00	0.04
FCIVX	0.37	0.00	(0.03)	0.01	0.49	(0.39)	0.79	(0.78)	2.19
RWDIX	0.09	0.00	(0.10)	0.11	0.00	(0.14)	0.18	(0.18)	0.54

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