Eventide Exponential Correlations

ETCEX Fund

USD 13.20 0.07 0.53%

The current 90-days correlation between Eventide Exponential and Veea Inc is -0.16 (i.e., Good 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

Poor diversification

The correlation between Eventide Exponential Technolog and DJI is 0.71 (i.e., Poor 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 income.

Moving together with Eventide Mutual Fund

0.66	VVPR	VivoPower International	Pair Corr
0.68	WEBB	Web Global Holdings	Pair Corr
0.71	CETXP	Cemtrex Pref	Pair Corr
0.74	ZENA	ZenaTech	Pair Corr
0.89	FUJIY	FUJIFILM Holdings Corp	Pair Corr
0.61	LTCH	Latch Inc	Pair Corr

Moving against Eventide Mutual Fund

0.81	FOXX	Foxx Development Holdings Downward Rally	Pair Corr
0.81	WCT	Wellchange Holdings	Pair Corr
0.8	EVOL	Evolving Systems	Pair Corr
0.76	DLPX	Delphax Technologies	Pair Corr
0.62	VHAI	VHAI	Pair Corr
0.59	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.49	SBIGW	SpringBig Holdings	Pair Corr
0.43	VIDE	Video Display Earnings Call This Week	Pair Corr
0.41	DZSI	DZS Inc	Pair Corr
0.39	VEEA	Veea Inc Symbol Change	Pair Corr
0.33	XELA	Exela Technologies	Pair Corr
0.76	VEEAW	Veea Inc Symbol Change	Pair Corr
0.71	GETR	Getaround	Pair Corr
0.64	MINM	Minim Inc	Pair Corr
0.62	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr
0.6	ZPTAW	Zapata Computing Holdings	Pair Corr
0.58	NLST	Netlist	Pair Corr
0.37	KBNT	Kubient	Pair Corr

Related Correlations Analysis

	VEEA	VVPR	EXOD	ETARX	ETAMX	ETAHX	ETAGX	ETAEX	ETADX	ETABX
VEEA		0.08	0.2	-0.28	-0.68	-0.05	-0.64	-0.38	-0.72	-0.22	VEEA
VVPR	0.08		0.72	-0.27	-0.4	-0.65	0.15	0.66	-0.4	0.25	VVPR
EXOD	0.2	0.72		-0.55	-0.59	-0.8	-0.14	0.55	-0.57	-0.14	EXOD
ETARX	-0.28	-0.27	-0.55		0.68	0.64	0.41	-0.09	0.48	0.71	ETARX
ETAMX	-0.68	-0.4	-0.59	0.68		0.56	0.72	0.1	0.93	0.45	ETAMX
ETAHX	-0.05	-0.65	-0.8	0.64	0.56		0.12	-0.49	0.45	0.17	ETAHX
ETAGX	-0.64	0.15	-0.14	0.41	0.72	0.12		0.69	0.76	0.61	ETAGX
ETAEX	-0.38	0.66	0.55	-0.09	0.1	-0.49	0.69		0.17	0.37	ETAEX
ETADX	-0.72	-0.4	-0.57	0.48	0.93	0.45	0.76	0.17		0.32	ETADX
ETABX	-0.22	0.25	-0.14	0.71	0.45	0.17	0.61	0.37	0.32		ETABX
	VEEA	VVPR	EXOD	ETARX	ETAMX	ETAHX	ETAGX	ETAEX	ETADX	ETABX

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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

ETADX	+ 0.93	ETAMX
ETADX	+ 0.76	ETAGX
EXOD	+ 0.72	VVPR
ETAGX	+ 0.72	ETAMX
ETABX	+ 0.71	ETARX
ETAEX	+ 0.69	ETAGX

High negative correlations

ETAHX	- 0.8	EXOD
ETADX	- 0.72	VEEA
ETAMX	- 0.68	VEEA
ETAHX	- 0.65	VVPR
ETAGX	- 0.64	VEEA
ETAMX	- 0.59	EXOD

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
VEEA	4.97	0.39	0.07	(0.28)	5.57	(5.53)	9.54	(9.65)	32.82
VVPR	6.69	1.30	0.14	(1.55)	8.09	(8.90)	16.30	(10.30)	112.34
EXOD	7.84	1.98	0.21	(1.38)	7.48	(11.34)	21.55	(16.54)	56.37
ETARX	0.25	(0.04)	0.00	(0.41)	0.00	0.00	0.49	(0.49)	1.47
ETAMX	0.43	(0.01)	(0.01)	(0.03)	0.54	(0.49)	0.97	(0.70)	3.37
ETAHX	1.20	(0.11)	0.00	(0.28)	0.00	0.00	2.03	(2.84)	7.26
ETAGX	0.89	0.03	0.03	0.03	1.12	(0.98)	1.73	(1.81)	6.36
ETAEX	1.10	0.15	0.10	0.12	1.30	(1.13)	2.27	(1.80)	8.93
ETADX	0.68	0.00	0.00	0.00	0.90	(0.71)	1.64	(1.16)	5.85
ETABX	0.10	(0.01)	(0.04)	(0.32)	0.11	(0.15)	0.20	(0.20)	0.70

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