Eventide Multi-asset Correlations

ETAMX Fund

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The correlation of Eventide Multi-asset 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 Multi-asset Correlation With Market

Very poor diversification

The correlation between Eventide Multi Asset Income and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eventide Multi Asset Income 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 Multi Asset Income. 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 state.

Moving together with Eventide Mutual Fund

0.85	ETARX	Eventide Core Bond	Pair Corr
0.95	ETAGX	Eventide Gilead	Pair Corr
0.98	ETADX	Eventide Global Dividend	Pair Corr
0.94	ETABX	Eventide Limited Term	Pair Corr
0.83	ETCRX	Eventide Core Bond	Pair Corr
0.98	ETCMX	Eventide Multi Asset	Pair Corr
0.94	ETCGX	Eventide Gilead	Pair Corr
0.98	ETCDX	Eventide Global Dividend	Pair Corr
0.93	ETCBX	Eventide Limitedterm Bond	Pair Corr
0.92	ETGLX	Eventide Gilead	Pair Corr
0.96	ETIDX	Eventide Global Dividend	Pair Corr
0.86	ETIRX	Eventide Core Bond	Pair Corr
0.98	ETIMX	Eventide Multi Asset	Pair Corr
0.92	ETILX	Eventide Gilead	Pair Corr
0.98	ETNMX	Eventide Multi Asset	Pair Corr
0.96	ETNDX	Eventide Global Dividend	Pair Corr
0.95	ETNBX	Eventide Limited Term	Pair Corr
0.85	ETNRX	Eventide Core Bond	Pair Corr
0.92	ABALX	American Balanced	Pair Corr
0.92	BALCX	American Balanced	Pair Corr
0.91	BALFX	American Balanced	Pair Corr
0.95	FBONX	American Funds American	Pair Corr
0.95	FBAFX	American Funds American	Pair Corr
0.91	RLBCX	American Balanced	Pair Corr
0.91	RLBBX	American Balanced	Pair Corr
0.92	CLBAX	American Balanced	Pair Corr
0.91	CLBEX	American Balanced	Pair Corr

Related Correlations Analysis

	OCMPX	ARGVX	NCBGX	RAIIX	RISAX	MSSMX	ACCNX	BGNMX	MSSGX	FSCHX
OCMPX		0.48	0.58	0.4	0.4	0.29	0.08	0.18	0.3	0.17	OCMPX
ARGVX	0.48		0.97	0.9	0.9	-0.52	0.73	0.79	-0.5	0.81	ARGVX
NCBGX	0.58	0.97		0.83	0.83	-0.44	0.65	0.72	-0.41	0.71	NCBGX
RAIIX	0.4	0.9	0.83		1.0	-0.61	0.83	0.9	-0.61	0.95	RAIIX
RISAX	0.4	0.9	0.83	1.0		-0.61	0.83	0.9	-0.61	0.95	RISAX
MSSMX	0.29	-0.52	-0.44	-0.61	-0.61		-0.73	-0.73	0.93	-0.75	MSSMX
ACCNX	0.08	0.73	0.65	0.83	0.83	-0.73		0.98	-0.68	0.89	ACCNX
BGNMX	0.18	0.79	0.72	0.9	0.9	-0.73	0.98		-0.69	0.94	BGNMX
MSSGX	0.3	-0.5	-0.41	-0.61	-0.61	0.93	-0.68	-0.69		-0.76	MSSGX
FSCHX	0.17	0.81	0.71	0.95	0.95	-0.75	0.89	0.94	-0.76		FSCHX
	OCMPX	ARGVX	NCBGX	RAIIX	RISAX	MSSMX	ACCNX	BGNMX	MSSGX	FSCHX

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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

RISAX	+ 1.0	RAIIX
BGNMX	+ 0.98	ACCNX
NCBGX	+ 0.97	ARGVX
FSCHX	+ 0.95	RAIIX
FSCHX	+ 0.95	RISAX
FSCHX	+ 0.94	BGNMX

High negative correlations

FSCHX	- 0.76	MSSGX
FSCHX	- 0.75	MSSMX
BGNMX	- 0.73	MSSMX
ACCNX	- 0.73	MSSMX
MSSGX	- 0.69	BGNMX
MSSGX	- 0.68	ACCNX

Risk-Adjusted Indicators

There is a big difference between Eventide Mutual Fund performing well and Eventide Multi-asset 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 Multi-asset'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
OCMPX	0.76	(0.08)	0.00	(0.06)	0.00	0.00	1.23	(1.53)	8.91
ARGVX	0.59	0.18	0.25	0.31	0.08	(0.74)	0.97	(0.97)	11.35
NCBGX	0.48	0.12	0.20	0.29	0.07	(0.63)	0.83	(0.71)	9.81
RAIIX	0.58	0.11	0.10	0.23	0.57	(0.64)	1.31	(1.31)	3.31
RISAX	0.57	0.11	0.11	0.23	0.58	(0.65)	1.33	(1.29)	3.31
MSSMX	1.58	(0.28)	0.00	(2.74)	0.00	0.00	2.62	(3.81)	10.47
ACCNX	0.14	0.02	(0.19)	1.55	0.00	(0.18)	0.32	(0.22)	0.65
BGNMX	0.14	0.02	(0.20)	1.11	0.00	(0.20)	0.22	(0.22)	0.67
MSSGX	1.47	(0.28)	0.00	(0.13)	0.00	0.00	2.77	(3.02)	10.57
FSCHX	0.79	0.20	0.19	0.27	0.67	(0.93)	1.96	(1.85)	5.36

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