Eventide Core Correlations

ETIRX Fund

USD 8.18 0.02 0.24%

The current 90-days correlation between Eventide Core Bond and Vanguard Financials Index is 0.22 (i.e., Modest diversification). The correlation of Eventide Core 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 Core Correlation With Market

Average diversification

The correlation between Eventide Core Bond and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eventide Core Bond 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 Core Bond. 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 metropolitan statistical area.

Moving together with Eventide Mutual Fund

1.0	ETARX	Eventide Core Bond	Pair Corr
0.95	ETABX	Eventide Limited Term	Pair Corr
1.0	ETCRX	Eventide Core Bond	Pair Corr
0.96	ETCBX	Eventide Limitedterm Bond	Pair Corr
0.93	ETIBX	Eventide Limited Term	Pair Corr
0.93	ETNBX	Eventide Limited Term	Pair Corr
1.0	ETNRX	Eventide Core Bond	Pair Corr
0.99	VBTLX	Vanguard Total Bond	Pair Corr
0.99	VBMFX	Vanguard Total Bond	Pair Corr
0.99	VBTIX	Vanguard Total Bond	Pair Corr
0.99	VTBSX	Vanguard Total Bond	Pair Corr
0.99	VTBIX	Vanguard Total Bond	Pair Corr
0.99	VTBNX	Vanguard Total Bond	Pair Corr
0.99	BFAFX	Bond Fund	Pair Corr
0.99	ABNDX	Bond Fund	Pair Corr

Moving against Eventide Mutual Fund

0.71	ETAEX	Eventide Exponential	Pair Corr
0.71	ETCEX	Eventide Exponential	Pair Corr
0.71	ETIEX	Eventide Exponential	Pair Corr
0.58	ETIDX	Eventide Global Dividend	Pair Corr
0.57	ETADX	Eventide Global Dividend	Pair Corr
0.57	ETCDX	Eventide Global Dividend	Pair Corr
0.49	ETAGX	Eventide Gilead	Pair Corr
0.49	ETILX	Eventide Gilead	Pair Corr
0.48	ETGLX	Eventide Gilead	Pair Corr
0.47	ETCGX	Eventide Gilead	Pair Corr
0.4	ETIMX	Eventide Multi Asset	Pair Corr
0.39	ETAMX	Eventide Multi Asset	Pair Corr
0.37	ETCMX	Eventide Multi Asset	Pair Corr
0.71	ETNEX	Eventide Exponential	Pair Corr
0.57	ETNDX	Eventide Global Dividend	Pair Corr
0.4	ETNMX	Eventide Multi Asset	Pair Corr
0.33	ETLIX	Eventide Large Cap	Pair Corr
0.33	ETLAX	Eventide Large Cap	Pair Corr
0.33	ETLNX	Eventide Large Cap	Pair Corr

Related Correlations Analysis

	VFAIX	BTO	PFSQX	MSVIX	FTIXX	SBFAX	RGFIX	FIKBX
VFAIX		0.98	1.0	0.77	0.37	0.96	0.0	0.97	VFAIX
BTO	0.98		0.97	0.77	0.32	0.96	0.0	0.95	BTO
PFSQX	1.0	0.97		0.81	0.41	0.95	0.0	0.96	PFSQX
MSVIX	0.77	0.77	0.81		0.25	0.69	0.0	0.72	MSVIX
FTIXX	0.37	0.32	0.41	0.25		0.38	0.0	0.4	FTIXX
SBFAX	0.96	0.96	0.95	0.69	0.38		0.0	0.99	SBFAX
RGFIX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	RGFIX
FIKBX	0.97	0.95	0.96	0.72	0.4	0.99	0.0		FIKBX
	VFAIX	BTO	PFSQX	MSVIX	FTIXX	SBFAX	RGFIX	FIKBX

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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

PFSQX	+ 1.0	VFAIX
FIKBX	+ 0.99	SBFAX
BTO	+ 0.98	VFAIX
FIKBX	+ 0.97	VFAIX
PFSQX	+ 0.97	BTO
SBFAX	+ 0.96	VFAIX

High negative correlations

FIKBX	- 0.0	RGFIX
RGFIX	- 0.0	SBFAX
RGFIX	- 0.0	FTIXX
RGFIX	- 0.0	MSVIX
RGFIX	- 0.0	PFSQX
RGFIX	- 0.0	BTO

Risk-Adjusted Indicators

There is a big difference between Eventide Mutual Fund performing well and Eventide Core 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 Core'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
VFAIX	0.78	0.08	0.15	0.18	0.51	(0.93)	1.77	(1.22)	8.51
BTO	0.98	0.16	0.20	0.23	0.67	(1.10)	2.02	(1.32)	9.88
PFSQX	0.80	0.06	0.13	0.16	0.50	(0.99)	1.58	(1.42)	8.34
MSVIX	0.82	(0.06)	(0.02)	0.08	0.83	(0.95)	2.14	(1.41)	5.71
FTIXX	0.03	0.01	0.00	(0.18)	0.00	0.00	0.00	0.00	1.01
SBFAX	0.80	0.25	0.13	(2.15)	0.50	(0.95)	1.73	(1.44)	8.60
RGFIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIKBX	0.82	0.27	0.16	(1.80)	0.51	(1.02)	1.88	(1.15)	9.76

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