Eventide Multi-asset Correlations

ETAMX Fund

USD 14.41 0.09 0.62%

The current 90-days correlation between Eventide Multi Asset and Lazard International Quality is 0.01 (i.e., Significant diversification). 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 weak diversification

The correlation between Eventide Multi Asset Income and DJI is 0.4 (i.e., Very weak 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 board of governors.

Moving together with Eventide Mutual Fund

0.74	ABALX	American Balanced	Pair Corr
0.95	BALCX	American Balanced	Pair Corr
0.76	BALFX	American Balanced	Pair Corr
0.95	RLBCX	American Balanced	Pair Corr
0.95	RLBBX	American Balanced	Pair Corr
0.77	CLBAX	American Balanced	Pair Corr
0.94	CLBEX	American Balanced	Pair Corr
0.94	RLBFX	American Balanced	Pair Corr
0.64	VFIAX	Vanguard 500 Index	Pair Corr
0.63	VTSMX	Vanguard Total Stock	Pair Corr
0.63	VSTSX	Vanguard Total Stock	Pair Corr
0.67	VSMPX	Vanguard Total Stock	Pair Corr
0.85	VTIAX	Vanguard Total Inter	Pair Corr
0.65	VFINX	Vanguard 500 Index	Pair Corr
0.64	VFFSX	Vanguard 500 Index	Pair Corr
0.64	DIS	Walt Disney	Pair Corr
0.73	BA	Boeing	Pair Corr

Moving against Eventide Mutual Fund

0.68	FBONX	American Funds American	Pair Corr
0.68	FBAFX	American Funds American	Pair Corr
0.39	T	ATT Inc	Pair Corr
0.32	MMM	3M Company	Pair Corr
0.31	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	OCMPX	ARGVX	NCBGX	RAIIX	RISAX	MSSMX	ACCNX	BGNMX	MSSGX	FSCHX
OCMPX		0.14	0.3	0.5	0.5	0.45	0.13	0.13	0.67	0.68	OCMPX
ARGVX	0.14		0.81	0.78	0.78	-0.37	0.32	0.46	-0.45	0.23	ARGVX
NCBGX	0.3	0.81		0.81	0.81	-0.43	0.34	0.52	-0.21	0.31	NCBGX
RAIIX	0.5	0.78	0.81		1.0	-0.12	0.4	0.55	-0.03	0.62	RAIIX
RISAX	0.5	0.78	0.81	1.0		-0.12	0.4	0.55	-0.02	0.62	RISAX
MSSMX	0.45	-0.37	-0.43	-0.12	-0.12		-0.11	-0.23	0.77	0.41	MSSMX
ACCNX	0.13	0.32	0.34	0.4	0.4	-0.11		0.92	-0.14	0.4	ACCNX
BGNMX	0.13	0.46	0.52	0.55	0.55	-0.23	0.92		-0.22	0.44	BGNMX
MSSGX	0.67	-0.45	-0.21	-0.03	-0.02	0.77	-0.14	-0.22		0.48	MSSGX
FSCHX	0.68	0.23	0.31	0.62	0.62	0.41	0.4	0.44	0.48		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	+ 0.92	ACCNX
NCBGX	+ 0.81	ARGVX
RAIIX	+ 0.81	NCBGX
RISAX	+ 0.81	NCBGX
RAIIX	+ 0.78	ARGVX

High negative correlations

MSSGX	- 0.45	ARGVX
MSSMX	- 0.43	NCBGX
MSSMX	- 0.37	ARGVX
BGNMX	- 0.23	MSSMX
MSSGX	- 0.22	BGNMX
MSSGX	- 0.21	NCBGX

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	0.71	(0.03)	0.00	(0.13)	0.00	0.00	1.14	(1.43)	8.91
ARGVX	0.61	0.12	0.15	0.23	0.38	(0.73)	1.04	(0.97)	10.45
NCBGX	0.49	0.15	0.22	0.39	0.00	(0.59)	0.85	(0.70)	9.05
RAIIX	0.58	(0.02)	(0.06)	0.04	0.82	(0.58)	0.94	(1.31)	3.19
RISAX	0.58	(0.02)	(0.06)	0.04	0.82	(0.58)	0.92	(1.29)	3.18
MSSMX	1.65	(0.26)	0.00	(0.08)	0.00	0.00	2.83	(3.81)	9.51
ACCNX	0.14	(0.01)	(0.36)	(0.06)	0.15	(0.16)	0.22	(0.32)	0.86
BGNMX	0.14	0.00	(0.36)	(0.02)	0.13	(0.19)	0.22	(0.33)	0.77
MSSGX	1.64	(0.23)	0.00	(0.34)	0.00	0.00	2.89	(3.80)	9.56
FSCHX	0.75	0.00	(0.02)	0.08	0.88	(0.84)	1.80	(1.48)	4.61

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