Eventide Multi-asset Correlations

Mutual Funds . USA . 
Fund . Eventide Multi Asset Income
ETAMX Fund  USD 14.69  0.02  0.14%   
The current 90-days correlation between Eventide Multi Asset and Dreyfusstandish Global Fixed is 0.21 (i.e., Modest 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

Average diversification

The correlation between Eventide Multi Asset Income and DJI is 0.18 (i.e., Average 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 population.

Moving together with Eventide Mutual Fund

  0.68ETARX Eventide Core BondPairCorr
  0.72ETAGX Eventide GileadPairCorr
  0.93ETADX Eventide Global DividendPairCorr
  0.73ETCRX Eventide Core BondPairCorr
  1.0ETCMX Eventide Multi AssetPairCorr
  0.75ETCGX Eventide GileadPairCorr
  0.95ETCDX Eventide Global DividendPairCorr
  0.74ETGLX Eventide GileadPairCorr
  0.92ETIDX Eventide Global DividendPairCorr
  0.75ETIRX Eventide Core BondPairCorr
  0.95ETIMX Eventide Multi AssetPairCorr
  0.73ETILX Eventide GileadPairCorr
  0.93ETLIX Eventide Large CapPairCorr
  0.92ETLCX Eventide Large CapPairCorr
  0.9ETLAX Eventide Large CapPairCorr
  0.93ETLNX Eventide Large CapPairCorr
  0.95ETNMX Eventide Multi AssetPairCorr
  0.95ETNDX Eventide Global DividendPairCorr
  0.73ETNRX Eventide Core BondPairCorr
  0.83FBONX American Funds AmericanPairCorr
  0.83FBAFX American Funds AmericanPairCorr
  0.83ABALX American BalancedPairCorr
  0.83BALCX American BalancedPairCorr
  0.83BALFX American BalancedPairCorr
  0.83RLBCX American BalancedPairCorr
  0.83RLBBX American BalancedPairCorr
  0.83CLBAX American BalancedPairCorr

Related Correlations Analysis

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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.

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