Eventide Large Correlations

ETLCX Fund

14.88 0.23 1.57%

The current 90-days correlation between Eventide Large Cap and Eventide Core Bond is -0.02 (i.e., Good 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

Significant diversification

The correlation between Eventide Large Cap and DJI is 0.03 (i.e., Significant 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 main economic indicators.

Moving together with Eventide Mutual Fund

0.8	ETAMX	Eventide Multi Asset	Pair Corr
0.89	ETAGX	Eventide Gilead	Pair Corr
0.71	ETAEX	Eventide Exponential	Pair Corr
0.77	ETADX	Eventide Global Dividend	Pair Corr
0.8	ETCMX	Eventide Multi Asset	Pair Corr
0.74	ETCGX	Eventide Gilead	Pair Corr
0.71	ETCEX	Eventide Exponential	Pair Corr
0.78	ETCDX	Eventide Global Dividend	Pair Corr
0.74	ETGLX	Eventide Gilead	Pair Corr
0.71	ETIEX	Eventide Exponential	Pair Corr
0.77	ETIDX	Eventide Global Dividend	Pair Corr
0.8	ETIMX	Eventide Multi Asset	Pair Corr
0.74	ETILX	Eventide Gilead	Pair Corr
1.0	ETLIX	Eventide Large Cap	Pair Corr
1.0	ETLAX	Eventide Large Cap	Pair Corr
1.0	ETLNX	Eventide Large Cap	Pair Corr
0.8	ETNMX	Eventide Multi Asset	Pair Corr
0.71	ETNEX	Eventide Exponential	Pair Corr
0.77	ETNDX	Eventide Global Dividend	Pair Corr
0.75	VTSAX	Vanguard Total Stock	Pair Corr
0.82	VFIAX	Vanguard 500 Index	Pair Corr
0.75	VTSMX	Vanguard Total Stock	Pair Corr
0.81	VITSX	Vanguard Total Stock	Pair Corr
0.75	VSMPX	Vanguard Total Stock	Pair Corr
0.75	VSTSX	Vanguard Total Stock	Pair Corr
0.82	VFINX	Vanguard 500 Index	Pair Corr
0.76	VFFSX	Vanguard 500 Index	Pair Corr

Moving against Eventide Mutual Fund

0.32	ETCRX	Eventide Core Bond	Pair Corr
0.31	ETNRX	Eventide Core Bond	Pair Corr

Related Correlations Analysis

	ETARX	ETAMX	ETAHX	ETAGX	ETAEX	ETADX	ETABX	ETCRX	ETCMX	ETCHX
ETARX		-0.39	0.26	-0.49	-0.7	-0.58	0.94	1.0	-0.37	0.27	ETARX
ETAMX	-0.39		-0.19	0.82	0.79	0.97	-0.19	-0.42	1.0	-0.21	ETAMX
ETAHX	0.26	-0.19		-0.04	-0.2	-0.23	0.17	0.26	-0.18	1.0	ETAHX
ETAGX	-0.49	0.82	-0.04		0.91	0.85	-0.37	-0.5	0.83	-0.05	ETAGX
ETAEX	-0.7	0.79	-0.2	0.91		0.88	-0.6	-0.72	0.79	-0.21	ETAEX
ETADX	-0.58	0.97	-0.23	0.85	0.88		-0.38	-0.6	0.97	-0.25	ETADX
ETABX	0.94	-0.19	0.17	-0.37	-0.6	-0.38		0.94	-0.16	0.18	ETABX
ETCRX	1.0	-0.42	0.26	-0.5	-0.72	-0.6	0.94		-0.39	0.27	ETCRX
ETCMX	-0.37	1.0	-0.18	0.83	0.79	0.97	-0.16	-0.39		-0.2	ETCMX
ETCHX	0.27	-0.21	1.0	-0.05	-0.21	-0.25	0.18	0.27	-0.2		ETCHX
	ETARX	ETAMX	ETAHX	ETAGX	ETAEX	ETADX	ETABX	ETCRX	ETCMX	ETCHX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

ETCRX	+ 1.0	ETARX
ETCMX	+ 1.0	ETAMX
ETCHX	+ 1.0	ETAHX
ETADX	+ 0.97	ETAMX
ETCMX	+ 0.97	ETADX
ETABX	+ 0.94	ETARX

High negative correlations

ETCRX	- 0.72	ETAEX
ETAEX	- 0.7	ETARX
ETCRX	- 0.6	ETADX
ETABX	- 0.6	ETAEX
ETADX	- 0.58	ETARX
ETCRX	- 0.5	ETAGX

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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ETARX	0.22	(0.05)	0.00	(0.48)	0.00	0.00	0.36	(0.48)	1.20
ETAMX	0.37	0.01	(0.13)	0.14	0.25	(0.42)	0.91	(0.61)	1.97
ETAHX	0.98	(0.20)	0.00	(0.06)	0.00	0.00	1.91	(2.32)	7.54
ETAGX	0.77	0.05	(0.05)	0.62	0.99	(0.82)	1.73	(1.71)	4.80
ETAEX	0.98	0.12	0.01	1.17	1.26	(1.02)	2.20	(2.16)	7.37
ETADX	0.62	0.03	0.01	0.15	0.58	(0.68)	1.37	(1.03)	3.57
ETABX	0.10	(0.02)	0.00	(0.45)	0.00	0.00	0.20	(0.20)	0.60
ETCRX	0.20	(0.05)	0.00	(0.75)	0.00	0.00	0.37	(0.49)	1.21
ETCMX	0.37	0.01	(0.14)	0.13	0.26	(0.42)	0.91	(0.56)	1.92
ETCHX	0.98	(0.20)	0.00	(0.07)	0.00	0.00	1.91	(2.30)	7.56

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC