Eventide Large Correlations

ETLCX Fund

15.15 0.14 0.92%

The current 90-days correlation between Eventide Large Cap and Altegris Futures Evolution is 0.36 (i.e., Weak 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

Very weak diversification

The correlation between Eventide Large Cap and DJI is 0.51 (i.e., Very weak 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 unemployment.

Moving together with Eventide Mutual Fund

0.7	ETCEX	Eventide Exponential	Pair Corr
1.0	ETLIX	Eventide Large Cap	Pair Corr
0.79	ETLAX	Eventide Large Cap	Pair Corr
1.0	ETLNX	Eventide Large Cap	Pair Corr
0.65	VTSAX	Vanguard Total Stock	Pair Corr
0.66	VFIAX	Vanguard 500 Index	Pair Corr
0.64	VTSMX	Vanguard Total Stock	Pair Corr
0.64	VITSX	Vanguard Total Stock	Pair Corr
0.64	VSMPX	Vanguard Total Stock	Pair Corr
0.65	VSTSX	Vanguard Total Stock	Pair Corr
0.64	VFINX	Vanguard 500 Index	Pair Corr
0.67	VFFSX	Vanguard 500 Index	Pair Corr
0.66	VINIX	Vanguard Institutional	Pair Corr
0.66	VIIIX	Vanguard Institutional	Pair Corr

Related Correlations Analysis

	LFTAX	FIFGX	AMFAX	VTSPX	QMHIX	EVOIX
LFTAX		0.94	0.7	0.53	0.94	0.62	LFTAX
FIFGX	0.94		0.63	0.47	0.89	0.53	FIFGX
AMFAX	0.7	0.63		0.85	0.7	0.97	AMFAX
VTSPX	0.53	0.47	0.85		0.5	0.85	VTSPX
QMHIX	0.94	0.89	0.7	0.5		0.61	QMHIX
EVOIX	0.62	0.53	0.97	0.85	0.61		EVOIX
	LFTAX	FIFGX	AMFAX	VTSPX	QMHIX	EVOIX

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
LFTAX	0.52	0.19	0.17	3.96	0.46	(0.61)	1.13	(0.67)	4.38
FIFGX	0.85	0.15	0.12	(8.73)	0.79	(0.95)	1.64	(1.55)	4.01
AMFAX	0.64	0.09	0.10	0.17	0.64	(0.71)	1.21	(1.19)	3.65
VTSPX	0.06	0.00	(0.40)	(0.07)	0.00	(0.08)	0.12	(0.12)	0.28
QMHIX	0.73	0.16	0.11	2.88	0.83	(0.77)	1.42	(1.33)	4.87
EVOIX	0.51	0.08	0.06	0.24	0.67	(0.60)	1.12	(1.16)	3.10

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Eventide Large Correlations

Eventide Large Correlation With Market

Very weak diversification

Moving together with Eventide Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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