Eventide Exponential Correlations

ETCEX Fund

USD 13.20 0.20 1.49%

The current 90-days correlation between Eventide Exponential and Redwood Managed Volatility is 0.63 (i.e., Poor 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

Very good diversification

The correlation between Eventide Exponential Technolog and DJI is -0.31 (i.e., Very good 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 housing.

Moving together with Eventide Mutual Fund

1.0	ETAEX	Eventide Exponential	Pair Corr
0.62	ETCHX	Eventide Healthcare Life	Pair Corr
1.0	ETIEX	Eventide Exponential	Pair Corr
1.0	ETNEX	Eventide Exponential	Pair Corr
0.86	VITAX	Vanguard Information	Pair Corr

Moving against Eventide Mutual Fund

0.6	ETABX	Eventide Limited Term	Pair Corr
0.59	ETIBX	Eventide Limited Term	Pair Corr
0.55	ETADX	Eventide Global Dividend	Pair Corr
0.55	ETCDX	Eventide Global Dividend	Pair Corr
0.55	ETCBX	Eventide Limitedterm Bond	Pair Corr
0.55	ETIDX	Eventide Global Dividend	Pair Corr
0.54	ETARX	Eventide Core Bond	Pair Corr
0.53	ETAMX	Eventide Multi Asset	Pair Corr
0.53	ETCMX	Eventide Multi Asset	Pair Corr
0.53	ETIMX	Eventide Multi Asset	Pair Corr
0.52	ETCRX	Eventide Core Bond	Pair Corr
0.59	ETNBX	Eventide Limited Term	Pair Corr
0.56	VTIAX	Vanguard Total Inter	Pair Corr
0.55	ETNDX	Eventide Global Dividend	Pair Corr
0.54	ETNRX	Eventide Core Bond	Pair Corr
0.54	SKCRX	Deutsche Enhanced Modity	Pair Corr
0.53	ETNMX	Eventide Multi Asset	Pair Corr
0.47	VBTLX	Vanguard Total Bond	Pair Corr
0.39	FSELX	Fidelity Select Semi	Pair Corr
0.33	PRSCX	T Rowe Price	Pair Corr

Related Correlations Analysis

	JVSCX	CHASX	USBNX	JVSAX	JVSNX	JSVSX	RBCGX	LMVYX	DEVDX	RWDYX
JVSCX		0.94	0.94	1.0	1.0	1.0	0.67	0.94	-0.28	0.9	JVSCX
CHASX	0.94		0.8	0.94	0.94	0.94	0.78	0.87	-0.04	0.85	CHASX
USBNX	0.94	0.8		0.94	0.94	0.94	0.47	0.96	-0.42	0.91	USBNX
JVSAX	1.0	0.94	0.94		1.0	1.0	0.66	0.95	-0.29	0.91	JVSAX
JVSNX	1.0	0.94	0.94	1.0		1.0	0.66	0.95	-0.29	0.91	JVSNX
JSVSX	1.0	0.94	0.94	1.0	1.0		0.66	0.94	-0.29	0.9	JSVSX
RBCGX	0.67	0.78	0.47	0.66	0.66	0.66		0.56	0.29	0.53	RBCGX
LMVYX	0.94	0.87	0.96	0.95	0.95	0.94	0.56		-0.25	0.93	LMVYX
DEVDX	-0.28	-0.04	-0.42	-0.29	-0.29	-0.29	0.29	-0.25		-0.28	DEVDX
RWDYX	0.9	0.85	0.91	0.91	0.91	0.9	0.53	0.93	-0.28		RWDYX
	JVSCX	CHASX	USBNX	JVSAX	JVSNX	JSVSX	RBCGX	LMVYX	DEVDX	RWDYX

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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

JVSAX	+ 1.0	JVSCX
JVSNX	+ 1.0	JVSCX
JSVSX	+ 1.0	JVSCX
JVSNX	+ 1.0	JVSAX
JSVSX	+ 1.0	JVSAX
JSVSX	+ 1.0	JVSNX

High negative correlations

DEVDX	- 0.42	USBNX
DEVDX	- 0.29	JSVSX
DEVDX	- 0.29	JVSNX
DEVDX	- 0.29	JVSAX
RWDYX	- 0.28	DEVDX
DEVDX	- 0.28	JVSCX

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
JVSCX	0.92	0.31	0.33	0.42	0.30	(1.08)	2.32	(1.33)	13.18
CHASX	0.96	0.24	0.19	0.36	0.75	(1.07)	1.95	(1.70)	12.57
USBNX	0.63	0.08	0.11	0.17	0.46	(0.84)	1.47	(1.17)	4.81
JVSAX	0.91	0.30	0.31	0.40	0.33	(1.09)	2.31	(1.31)	12.39
JVSNX	0.91	0.30	0.33	0.39	0.32	(1.09)	2.30	(1.30)	12.38
JSVSX	0.91	0.30	0.31	0.40	0.34	(1.07)	2.26	(1.39)	12.51
RBCGX	0.85	0.16	0.20	0.21	0.52	(1.06)	1.04	(1.34)	21.46
LMVYX	0.84	0.17	0.21	0.22	0.56	(1.04)	2.58	(1.51)	6.88
DEVDX	0.21	(0.01)	(0.28)	0.02	0.18	(0.36)	0.61	(0.44)	1.68
RWDYX	0.07	0.01	(0.54)	0.30	0.00	(0.11)	0.18	(0.09)	0.35

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