Eaton Vance Correlations

EVN Stock

USD 10.28 0.05 0.49%

The current 90-days correlation between Eaton Vance Municipal and Blackrock Muniyield is 0.55 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eaton Vance moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eaton Vance Municipal moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eaton Vance Correlation With Market

Weak diversification

The correlation between Eaton Vance Municipal and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Municipal and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eaton Vance Municipal. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Eaton Stock

0.8	GS	Goldman Sachs Group	Pair Corr
0.88	AXP	American Express	Pair Corr
0.85	COF	Capital One Financial Earnings Call This Week	Pair Corr
0.71	SCM	Stellus Capital Inve	Pair Corr
0.61	GAIN	Gladstone Investment	Pair Corr
0.76	GLAD	Gladstone Capital	Pair Corr
0.65	HTGC	Hercules Capital	Pair Corr
0.65	MAIN	Main Street Capital	Pair Corr
0.71	OPFI	OppFi Inc	Pair Corr
0.8	PFLT	PennantPark Floating Rate	Pair Corr
0.87	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.82	ALLY	Ally Financial	Pair Corr
0.76	ARCC	Ares Capital	Pair Corr
0.7	TPVG	Triplepoint Venture	Pair Corr
0.73	TSLX	Sixth Street Specialty	Pair Corr
0.75	CSWC	Capital Southwest	Pair Corr
0.8	C	Citigroup Aggressive Push	Pair Corr
0.82	L	Loews Corp	Pair Corr
0.84	DHIL	Diamond Hill Investment	Pair Corr
0.93	AB	AllianceBernstein Earnings Call This Week	Pair Corr
0.71	AC	Associated Capital	Pair Corr
0.85	AX	Axos Financial	Pair Corr
0.83	BK	Bank of New York	Pair Corr
0.86	BN	Brookfield Corp	Pair Corr
0.8	BX	Blackstone Group Normal Trading	Pair Corr
0.8	BY	Byline Bancorp Earnings Call This Week	Pair Corr
0.81	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.81	CM	Canadian Imperial Bank	Pair Corr
0.83	DB	Deutsche Bank AG Earnings Call This Week	Pair Corr
0.69	HG	Hamilton Insurance Group,	Pair Corr
0.73	IX	Orix Corp Ads	Pair Corr

Moving against Eaton Stock

0.32	HRZN	Horizon Technology	Pair Corr
0.61	FG	FG Annuities Life	Pair Corr
0.55	EG	Everest Group	Pair Corr

Related Correlations Analysis

	MYD	IIM	KTF	MQT	NMCO	MAV	CXE	BFK	EIM
MYD		0.89	0.72	0.92	0.34	0.48	0.77	0.93	0.9	MYD
IIM	0.89		0.81	0.94	0.41	0.57	0.77	0.88	0.92	IIM
KTF	0.72	0.81		0.76	-0.08	0.13	0.43	0.74	0.75	KTF
MQT	0.92	0.94	0.76		0.46	0.62	0.8	0.89	0.93	MQT
NMCO	0.34	0.41	-0.08	0.46		0.86	0.63	0.34	0.44	NMCO
MAV	0.48	0.57	0.13	0.62	0.86		0.65	0.46	0.58	MAV
CXE	0.77	0.77	0.43	0.8	0.63	0.65		0.78	0.75	CXE
BFK	0.93	0.88	0.74	0.89	0.34	0.46	0.78		0.88	BFK
EIM	0.9	0.92	0.75	0.93	0.44	0.58	0.75	0.88		EIM
	MYD	IIM	KTF	MQT	NMCO	MAV	CXE	BFK	EIM

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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

MQT	+ 0.94	IIM
BFK	+ 0.93	MYD
EIM	+ 0.93	MQT
MQT	+ 0.92	MYD
EIM	+ 0.92	IIM
EIM	+ 0.9	MYD

High negative correlations

NMCO

- 0.08

KTF

Risk-Adjusted Indicators

There is a big difference between Eaton Stock performing well and Eaton Vance Company 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 Eaton Vance'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
MYD	0.49	(0.05)	(0.16)	0.00	0.74	(0.50)	1.11	(0.98)	4.37
IIM	0.39	(0.03)	(0.26)	0.01	0.45	(0.42)	0.95	(0.60)	2.48
KTF	0.34	(0.05)	0.00	(0.25)	0.00	0.00	0.69	(0.91)	2.56
MQT	0.36	(0.03)	(0.24)	0.00	0.44	(0.43)	0.96	(0.83)	2.77
NMCO	0.53	0.02	(0.08)	0.17	0.72	(0.57)	1.25	(0.97)	4.58
MAV	0.39	0.09	(0.05)	1.20	0.36	(0.50)	0.91	(0.60)	5.00
CXE	0.44	0.00	(0.16)	0.11	0.47	(0.60)	1.14	(0.86)	2.60
BFK	0.48	(0.01)	(0.16)	0.08	0.60	(0.57)	1.06	(0.73)	3.90
EIM	0.42	(0.04)	(0.16)	0.02	0.64	(0.45)	0.86	(1.02)	3.21

Eaton Vance Corporate Management

James Kirchner	Treasurer	Profile
Mark Fetting	Independent Trustee	Profile
Richard Froio	Chief Compliance Officer	Profile
KEITH QUINTON	Independent Trustee	Profile
Valerie Mosley	Independent Trustee	Profile

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