Eventide Exponential Correlations

ETAEX Fund

USD 14.07 0.34 2.48%

The current 90-days correlation between Eventide Exponential and Morningstar Aggressive Growth is 0.48 (i.e., Very weak 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

Average diversification

The correlation between Eventide Exponential Technolog and DJI is 0.19 (i.e., Average 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 american community survey.

Moving together with Eventide Mutual Fund

0.86	ETCEX	Eventide Exponential	Pair Corr
0.86	ETIEX	Eventide Exponential	Pair Corr
0.71	ETLAX	Eventide Large Cap	Pair Corr
0.86	ETNEX	Eventide Exponential	Pair Corr
0.78	VITAX	Vanguard Information	Pair Corr

Moving against Eventide Mutual Fund

0.32	GAAKX	Gmo Alternative Allo	Pair Corr
0.32	GAAGX	Gmo Alternative Allo	Pair Corr

Related Correlations Analysis

	GHVIX	CAACX	PFADX	AORVX	CHYDX	HAHAX	AGTFX
GHVIX		0.93	0.91	0.93	0.98	0.97	0.93	GHVIX
CAACX	0.93		0.93	0.95	0.95	0.94	0.85	CAACX
PFADX	0.91	0.93		0.9	0.95	0.9	0.8	PFADX
AORVX	0.93	0.95	0.9		0.93	0.91	0.86	AORVX
CHYDX	0.98	0.95	0.95	0.93		0.98	0.91	CHYDX
HAHAX	0.97	0.94	0.9	0.91	0.98		0.92	HAHAX
AGTFX	0.93	0.85	0.8	0.86	0.91	0.92		AGTFX
	GHVIX	CAACX	PFADX	AORVX	CHYDX	HAHAX	AGTFX

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
GHVIX	0.10	0.01	(0.14)	0.30	0.00	(0.13)	0.23	(0.23)	0.70
CAACX	0.52	0.05	0.06	0.11	0.55	(0.58)	1.11	(1.02)	4.43
PFADX	0.19	0.02	(0.05)	0.11	0.12	(0.23)	0.41	(0.31)	0.92
AORVX	0.63	0.11	0.13	0.17	0.57	(0.68)	1.08	(1.23)	9.29
CHYDX	0.08	0.01	(0.19)	0.34	0.00	(0.15)	0.13	(0.13)	0.39
HAHAX	0.13	0.01	(0.08)	0.46	0.00	(0.21)	0.28	(0.14)	0.98
AGTFX	0.63	0.19	0.20	1.89	0.45	(0.75)	1.13	(1.22)	9.93

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