Eaton Vance Correlations

ENX Stock

USD 9.66 0.05 0.52%

The current 90-days correlation between Eaton Vance New and Nuveen Amt Free Municipal is 0.47 (i.e., Very weak diversification). The correlation of Eaton Vance 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.

Eaton Vance Correlation With Market

Modest diversification

The correlation between Eaton Vance New and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance New 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 Eaton Vance New. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Eaton Stock

0.75	BN	Brookfield Corp Earnings Call This Week	Pair Corr
0.79	BX	Blackstone Group	Pair Corr
0.7	APO	Apollo Global Management Earnings Call This Week	Pair Corr
0.67	BEN	Franklin Resources	Pair Corr
0.65	KKR	KKR Co LP Earnings Call This Week	Pair Corr
0.66	NTRS	Northern Trust	Pair Corr
0.78	SNFCA	Security National	Pair Corr
0.74	TROW	T Rowe Price Earnings Call This Week	Pair Corr
0.72	L	Loews Corp Earnings Call This Week	Pair Corr
0.61	AX	Axos Financial	Pair Corr
0.64	BY	Byline Bancorp	Pair Corr
0.63	CM	Canadian Imperial Bank	Pair Corr
0.69	FG	FG Annuities Life	Pair Corr

Moving against Eaton Stock

0.47

CNF

CNFinance Holdings

Pair Corr

Related Correlations Analysis

	NUW	NMI	PNF	MHN	PYN	EVY	GRF	NBH	VTN	PAI
NUW		0.55	0.69	0.81	0.77	0.0	0.01	0.85	0.62	0.41	NUW
NMI	0.55		0.08	0.2	0.18	0.0	-0.31	0.36	-0.1	0.12	NMI
PNF	0.69	0.08		0.72	0.93	0.0	0.4	0.87	0.88	0.49	PNF
MHN	0.81	0.2	0.72		0.81	0.0	0.11	0.83	0.85	0.52	MHN
PYN	0.77	0.18	0.93	0.81		0.0	0.29	0.88	0.87	0.58	PYN
EVY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	EVY
GRF	0.01	-0.31	0.4	0.11	0.29	0.0		0.23	0.33	0.17	GRF
NBH	0.85	0.36	0.87	0.83	0.88	0.0	0.23		0.8	0.55	NBH
VTN	0.62	-0.1	0.88	0.85	0.87	0.0	0.33	0.8		0.52	VTN
PAI	0.41	0.12	0.49	0.52	0.58	0.0	0.17	0.55	0.52		PAI
	NUW	NMI	PNF	MHN	PYN	EVY	GRF	NBH	VTN	PAI

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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

PYN	+ 0.93	PNF
VTN	+ 0.88	PNF
NBH	+ 0.88	PYN
NBH	+ 0.87	PNF
VTN	+ 0.87	PYN
NBH	+ 0.85	NUW

High negative correlations

GRF	- 0.31	NMI
VTN	- 0.1	NMI
PAI	- 0.0	EVY
VTN	- 0.0	EVY
NBH	- 0.0	EVY
GRF	- 0.0	EVY

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
NUW	0.39	(0.04)	0.00	(0.11)	0.00	0.00	0.74	(0.80)	2.84
NMI	0.37	0.01	(0.15)	0.19	0.42	(0.43)	0.85	(0.83)	2.45
PNF	0.42	(0.09)	0.00	(0.40)	0.00	0.00	0.81	(1.07)	2.49
MHN	0.48	(0.02)	0.00	(0.09)	0.00	0.00	0.96	(1.13)	2.69
PYN	0.50	(0.07)	0.00	(0.26)	0.00	0.00	0.88	(1.00)	3.07
EVY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GRF	1.54	(0.02)	(0.03)	0.04	2.39	(1.61)	4.06	(3.75)	12.36
NBH	0.48	(0.06)	0.00	(0.10)	0.00	0.00	1.06	(0.96)	2.74
VTN	0.56	(0.11)	0.00	(1.25)	0.00	0.00	1.14	(1.37)	3.95
PAI	0.58	0.03	(0.07)	0.33	0.69	(0.65)	1.46	(1.36)	4.15

Eaton Vance Corporate Management

James Kirchner	Treasurer	Profile
Mark Fetting	Independent Trustee	Profile
Richard Froio	Chief Compliance Officer	Profile
Valerie Mosley	Independent Trustee	Profile
Payson CFA	Chief VP	Profile

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