Eaton Vance Correlations

ENX Stock

USD 9.75 0.06 0.61%

The current 90-days correlation between Eaton Vance New and Nuveen Amt Free Municipal is 0.49 (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

Good diversification

The correlation between Eaton Vance New and DJI is -0.12 (i.e., Good 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

0.7	RM	Regional Management Corp	Pair Corr
0.66	WU	Western Union	Pair Corr

Moving against Eaton Stock

0.69	AB	AllianceBernstein	Pair Corr
0.66	CG	Carlyle Group	Pair Corr
0.64	LC	LendingClub Corp	Pair Corr
0.6	LX	Lexinfintech Holdings	Pair Corr
0.58	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.56	AC	Associated Capital	Pair Corr
0.55	MA	Mastercard	Pair Corr
0.49	BX	Blackstone Group Normal Trading	Pair Corr
0.48	BN	Brookfield Corp	Pair Corr
0.46	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.38	DIST	Distoken Acquisition	Pair Corr
0.35	DB	Deutsche Bank AG	Pair Corr
0.34	V	Visa Class A	Pair Corr
0.66	DYCQ	DT Cloud Acquisition	Pair Corr
0.65	QD	Qudian Inc	Pair Corr
0.6	SF	Stifel Financial Earnings Call This Week	Pair Corr
0.56	VCTR	Victory Capital Holdings Normal Trading	Pair Corr
0.51	TW	Tradeweb Markets	Pair Corr
0.38	GCMGW	GCM Grosvenor	Pair Corr
0.33	WT	WisdomTree	Pair Corr
0.32	DUET	DUET Acquisition Corp	Pair Corr
0.71	WAVS	Western Acquisition	Pair Corr
0.65	TETEU	Technology Telecommunicatio	Pair Corr
0.6	EMCG	Embrace Change Acqui	Pair Corr
0.49	VRTS	Virtus Investment	Pair Corr

Related Correlations Analysis

	NUW	NMI	PNF	MHN	PYN	EVY	GRF	NBH	VTN	PAI
NUW		0.64	0.85	0.87	0.8	0.0	-0.35	0.86	0.74	0.54	NUW
NMI	0.64		0.33	0.4	0.46	0.0	-0.75	0.83	0.41	0.05	NMI
PNF	0.85	0.33		0.96	0.89	0.0	-0.13	0.69	0.75	0.7	PNF
MHN	0.87	0.4	0.96		0.9	0.0	-0.15	0.72	0.8	0.69	MHN
PYN	0.8	0.46	0.89	0.9		0.0	-0.23	0.74	0.68	0.68	PYN
EVY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	EVY
GRF	-0.35	-0.75	-0.13	-0.15	-0.23	0.0		-0.6	-0.01	0.08	GRF
NBH	0.86	0.83	0.69	0.72	0.74	0.0	-0.6		0.59	0.35	NBH
VTN	0.74	0.41	0.75	0.8	0.68	0.0	-0.01	0.59		0.4	VTN
PAI	0.54	0.05	0.7	0.69	0.68	0.0	0.08	0.35	0.4		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

MHN	+ 0.96	PNF
PYN	+ 0.9	MHN
PYN	+ 0.89	PNF
MHN	+ 0.87	NUW
NBH	+ 0.86	NUW
PNF	+ 0.85	NUW

High negative correlations

GRF	- 0.75	NMI
NBH	- 0.6	GRF
GRF	- 0.35	NUW
GRF	- 0.23	PYN
GRF	- 0.15	MHN
GRF	- 0.13	PNF

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	0.32	(0.02)	0.00	(0.42)	0.00	0.00	0.65	(0.79)	2.89
NMI	0.27	(0.08)	0.00	1.28	0.00	0.00	0.60	(0.70)	1.65
PNF	0.38	0.01	(0.21)	0.85	0.41	(0.52)	1.13	(0.75)	2.74
MHN	0.36	0.01	(0.15)	0.62	0.62	(0.33)	0.75	(1.03)	2.69
PYN	0.48	(0.01)	0.00	0.20	0.00	0.00	1.13	(0.99)	3.30
EVY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GRF	0.87	0.12	0.03	0.50	0.86	(1.23)	2.06	(1.31)	7.03
NBH	0.40	(0.05)	0.00	(0.52)	0.00	0.00	0.91	(1.00)	2.23
VTN	0.36	0.03	(0.15)	2.74	0.44	(0.40)	0.71	(0.70)	2.25
PAI	0.46	0.00	(0.15)	0.14	0.65	(0.48)	1.02	(0.88)	3.42

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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