Eventide Multi Correlations

ETIMX Fund

USD 14.50 0.11 0.76%

The current 90-days correlation between Eventide Multi Asset and Eventide Multi Asset Income is 1.0 (i.e., No risk reduction). The correlation of Eventide Multi 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 Correlation With Market

Very weak diversification

The correlation between Eventide Multi Asset Income and DJI is 0.46 (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

0.95	ETAMX	Eventide Multi Asset	Pair Corr
0.81	ETAGX	Eventide Gilead	Pair Corr
0.77	ETADX	Eventide Global Dividend	Pair Corr
0.69	ETABX	Eventide Limited Term	Pair Corr
1.0	ETCMX	Eventide Multi Asset	Pair Corr
0.94	ETCGX	Eventide Gilead	Pair Corr
0.94	ETCDX	Eventide Global Dividend	Pair Corr
0.66	ETCBX	Eventide Limitedterm Bond	Pair Corr
0.94	ETGLX	Eventide Gilead	Pair Corr
0.79	ETIDX	Eventide Global Dividend	Pair Corr
0.67	ETIBX	Eventide Limited Term	Pair Corr
1.0	ETNMX	Eventide Multi Asset	Pair Corr
0.67	ETNBX	Eventide Limited Term	Pair Corr
0.67	ABALX	American Balanced	Pair Corr
0.81	BALCX	American Balanced	Pair Corr
0.68	BALFX	American Balanced	Pair Corr
0.79	RLBCX	American Balanced	Pair Corr
0.83	RLBBX	American Balanced	Pair Corr
0.68	CLBAX	American Balanced	Pair Corr
0.83	CLBEX	American Balanced	Pair Corr
0.83	RLBFX	American Balanced	Pair Corr

Moving against Eventide Mutual Fund

0.75	CESGX	Coho Relative Value	Pair Corr
0.67	UIPIX	Ultrashort Mid Cap	Pair Corr
0.62	FBONX	American Funds American	Pair Corr
0.62	FBAFX	American Funds American	Pair Corr
0.35	TCSUX	Cleartrack 2020 Class	Pair Corr
0.34	TCTGX	Transamerica Cleartrack	Pair Corr
0.33	TDKTX	Cleartrack 2015 Class	Pair Corr

Related Correlations Analysis

	ETNMX	NCZ	HIX	ARMZX	VKI	XFLT	TEPFX	TSSCX	MFVZX	RSEGX
ETNMX		0.46	0.12	0.57	0.62	0.18	0.53	-0.23	0.0	0.51	ETNMX
NCZ	0.46		0.38	0.32	0.54	0.41	0.4	0.04	0.0	0.57	NCZ
HIX	0.12	0.38		-0.13	0.25	0.51	-0.06	0.1	0.0	0.16	HIX
ARMZX	0.57	0.32	-0.13		0.44	-0.47	0.6	0.14	0.0	0.5	ARMZX
VKI	0.62	0.54	0.25	0.44		0.24	0.56	0.02	0.0	0.28	VKI
XFLT	0.18	0.41	0.51	-0.47	0.24		-0.18	-0.27	0.0	0.12	XFLT
TEPFX	0.53	0.4	-0.06	0.6	0.56	-0.18		0.22	0.0	0.52	TEPFX
TSSCX	-0.23	0.04	0.1	0.14	0.02	-0.27	0.22		0.0	0.09	TSSCX
MFVZX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	MFVZX
RSEGX	0.51	0.57	0.16	0.5	0.28	0.12	0.52	0.09	0.0		RSEGX
	ETNMX	NCZ	HIX	ARMZX	VKI	XFLT	TEPFX	TSSCX	MFVZX	RSEGX

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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

VKI	+ 0.62	ETNMX
TEPFX	+ 0.6	ARMZX
ARMZX	+ 0.57	ETNMX
RSEGX	+ 0.57	NCZ
TEPFX	+ 0.56	VKI
VKI	+ 0.54	NCZ

High negative correlations

XFLT	- 0.47	ARMZX
TSSCX	- 0.27	XFLT
TSSCX	- 0.23	ETNMX
TEPFX	- 0.18	XFLT
ARMZX	- 0.13	HIX
TEPFX	- 0.06	HIX

Risk-Adjusted Indicators

There is a big difference between Eventide Mutual Fund performing well and Eventide Multi 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'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
ETNMX	0.42	0.03	(0.03)	0.17	0.38	(0.48)	0.74	(0.70)	4.86
NCZ	0.82	(0.02)	(0.04)	0.06	0.95	(0.89)	1.71	(1.55)	4.69
HIX	0.54	0.00	(0.09)	0.01	0.79	(0.56)	0.97	(0.98)	3.37
ARMZX	0.03	0.00	0.00	(1.65)	0.00	0.00	0.11	0.00	0.43
VKI	0.40	0.06	(0.03)	0.92	0.37	(0.49)	1.01	(0.90)	2.16
XFLT	0.77	(0.09)	0.00	(0.56)	0.00	0.00	1.57	(1.28)	3.89
TEPFX	0.04	0.00	(0.52)	(0.01)	0.00	(0.10)	0.10	(0.10)	0.41
TSSCX	0.06	0.00	(0.78)	0.11	0.00	(0.14)	0.14	(0.14)	0.43
MFVZX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RSEGX	1.02	0.12	0.03	6.58	1.16	(1.10)	1.84	(1.96)	5.42

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