Eventide Large Correlations

ETLIX Fund

15.70 0.18 1.16%

The current 90-days correlation between Eventide Large Cap and Eventide Healthcare Life is 0.31 (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

Poor diversification

The correlation between Eventide Large Cap and DJI is 0.62 (i.e., Poor 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 gross domestic product.

Moving together with Eventide Mutual Fund

0.71	ETLCX	Eventide Large Cap	Pair Corr
1.0	ETLAX	Eventide Large Cap	Pair Corr
1.0	ETLNX	Eventide Large Cap	Pair Corr
0.66	VTSAX	Vanguard Total Stock	Pair Corr
0.85	VFIAX	Vanguard 500 Index	Pair Corr
0.85	VTSMX	Vanguard Total Stock	Pair Corr
0.85	VITSX	Vanguard Total Stock	Pair Corr
0.85	VSMPX	Vanguard Total Stock	Pair Corr
0.66	VSTSX	Vanguard Total Stock	Pair Corr
0.85	VFINX	Vanguard 500 Index	Pair Corr
0.65	VFFSX	Vanguard 500 Index	Pair Corr
0.85	VINIX	Vanguard Institutional	Pair Corr

Moving against Eventide Mutual Fund

0.78	USPIX	Profunds Ultrashort Potential Growth	Pair Corr
0.58	UIPIX	Ultrashort Mid Cap	Pair Corr
0.57	USPSX	Profunds Ultrashort	Pair Corr
0.44	TCTGX	Transamerica Cleartrack	Pair Corr
0.44	TDKTX	Cleartrack 2015 Class	Pair Corr
0.44	TCTJX	Transamerica Cleartrack	Pair Corr
0.4	TCSUX	Cleartrack 2020 Class	Pair Corr

Related Correlations Analysis

	ETARX	ETAMX	ETAHX	ETAGX	ETAEX	ETADX	ETABX	ETCRX	ETCMX	ETCHX
ETARX		0.85	0.1	0.65	-0.32	0.88	0.95	0.99	0.84	0.06	ETARX
ETAMX	0.85		0.12	0.93	-0.28	0.98	0.94	0.83	0.98	0.01	ETAMX
ETAHX	0.1	0.12		0.24	0.62	0.14	0.06	0.1	0.11	0.77	ETAHX
ETAGX	0.65	0.93	0.24		-0.06	0.85	0.79	0.63	0.9	0.11	ETAGX
ETAEX	-0.32	-0.28	0.62	-0.06		-0.3	-0.35	-0.31	-0.31	0.61	ETAEX
ETADX	0.88	0.98	0.14	0.85	-0.3		0.95	0.86	0.96	0.03	ETADX
ETABX	0.95	0.94	0.06	0.79	-0.35	0.95		0.93	0.94	-0.01	ETABX
ETCRX	0.99	0.83	0.1	0.63	-0.31	0.86	0.93		0.82	0.07	ETCRX
ETCMX	0.84	0.98	0.11	0.9	-0.31	0.96	0.94	0.82		0.01	ETCMX
ETCHX	0.06	0.01	0.77	0.11	0.61	0.03	-0.01	0.07	0.01		ETCHX
	ETARX	ETAMX	ETAHX	ETAGX	ETAEX	ETADX	ETABX	ETCRX	ETCMX	ETCHX

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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

ETCRX	+ 0.99	ETARX
ETADX	+ 0.98	ETAMX
ETCMX	+ 0.98	ETAMX
ETCMX	+ 0.96	ETADX
ETABX	+ 0.95	ETARX
ETABX	+ 0.95	ETADX

High negative correlations

ETABX	- 0.35	ETAEX
ETAEX	- 0.32	ETARX
ETCMX	- 0.31	ETAEX
ETCRX	- 0.31	ETAEX
ETADX	- 0.3	ETAEX
ETAEX	- 0.28	ETAMX

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	0.14	0.02	(0.32)	0.54	0.00	(0.19)	0.24	(0.24)	0.60
ETAMX	0.41	0.18	0.14	(1.14)	0.00	(0.50)	0.90	(0.67)	5.25
ETAHX	1.13	0.12	0.01	(1.04)	1.26	(1.25)	2.69	(2.09)	7.32
ETAGX	1.14	0.34	0.17	(0.72)	0.93	(1.35)	1.99	(1.90)	17.86
ETAEX	1.23	0.02	(0.05)	0.01	1.79	(1.13)	2.53	(3.12)	8.25
ETADX	0.71	0.23	0.11	(0.89)	0.72	(0.76)	1.73	(1.36)	4.20
ETABX	0.07	0.01	(0.75)	0.67	0.00	(0.11)	0.10	(0.10)	0.30
ETCRX	0.14	0.02	(0.31)	0.47	0.00	(0.19)	0.24	(0.24)	0.61
ETCMX	0.42	0.13	0.15	0.42	0.00	(0.48)	0.90	(0.71)	5.29
ETCHX	1.13	0.06	0.01	0.21	1.32	(1.26)	2.68	(2.14)	7.32

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