Eventide Large Correlations

ETLCX Fund

15.21 0.09 0.60%

The current 90-days correlation between Eventide Large Cap and Oppenheimer Rchstr Shrt is 0.05 (i.e., Significant diversification). The correlation of Eventide Large 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 Large Correlation With Market

Average diversification

The correlation between Eventide Large Cap and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eventide Large Cap 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 Large Cap. 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 manufacturing.

Moving together with Eventide Mutual Fund

0.66	ETCEX	Eventide Exponential	Pair Corr
0.95	ETLIX	Eventide Large Cap	Pair Corr
1.0	ETLAX	Eventide Large Cap	Pair Corr
0.83	ETLNX	Eventide Large Cap	Pair Corr
0.81	ETNDX	Eventide Global Dividend	Pair Corr

Moving against Eventide Mutual Fund

0.56	ETAHX	Eventide Healthcare Life	Pair Corr
0.56	ETCHX	Eventide Healthcare Life	Pair Corr
0.44	ETIBX	Eventide Limited Term	Pair Corr
0.43	ETIHX	Eventide Healthcare Life	Pair Corr
0.39	ETGLX	Eventide Gilead	Pair Corr
0.39	ETILX	Eventide Gilead	Pair Corr
0.38	ETCGX	Eventide Gilead	Pair Corr
0.34	ETCBX	Eventide Limitedterm Bond	Pair Corr
0.32	ETABX	Eventide Limited Term	Pair Corr
0.43	ETNHX	Eventide Healthcare Life	Pair Corr
0.4	ETNBX	Eventide Limited Term	Pair Corr
0.4	USPIX	Profunds Ultrashort	Pair Corr
0.39	USPSX	Profunds Ultrashort	Pair Corr
0.38	VDSCX	Victory Diversified Stock	Pair Corr

Related Correlations Analysis

	ORSTX	SUSAX	TAAQX	VMSSX	GTAPX	FTFZX	BPIRX
ORSTX		0.99	0.93	0.71	0.69	0.7	0.68	ORSTX
SUSAX	0.99		0.95	0.72	0.72	0.7	0.71	SUSAX
TAAQX	0.93	0.95		0.71	0.73	0.59	0.72	TAAQX
VMSSX	0.71	0.72	0.71		0.59	0.82	0.64	VMSSX
GTAPX	0.69	0.72	0.73	0.59		0.52	0.96	GTAPX
FTFZX	0.7	0.7	0.59	0.82	0.52		0.54	FTFZX
BPIRX	0.68	0.71	0.72	0.64	0.96	0.54		BPIRX
	ORSTX	SUSAX	TAAQX	VMSSX	GTAPX	FTFZX	BPIRX

Risk-Adjusted Indicators

There is a big difference between Eventide Mutual Fund performing well and Eventide Large 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 Large'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ORSTX	0.02	0.00	0.00	0.15	0.00	0.00	0.00	0.27
SUSAX	0.03	0.00	0.00	(0.05)	0.00	0.10	(0.10)	0.50
TAAQX	0.06	0.00	(0.81)	0.05	(0.13)	0.10	(0.10)	0.51
VMSSX	0.07	0.01	0.00	0.20	0.00	0.22	(0.22)	0.66
GTAPX	0.65	0.32	0.61	1.60	(0.83)	0.77	(0.47)	18.47
FTFZX	0.03	0.00	0.00	0.28	0.00	0.10	(0.10)	0.39
BPIRX	0.57	0.17	0.20	0.48	(0.70)	1.11	(0.80)	10.40

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