Eaton Vance Correlations

ETX Stock

USD 18.16 0.04 0.22%

The current 90-days correlation between Eaton Vance Municipal and MFS Investment Grade is 0.02 (i.e., Significant diversification). The correlation of Eaton Vance 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.

Eaton Vance Correlation With Market

Modest diversification

The correlation between Eaton Vance Municipal and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Municipal 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 Eaton Vance Municipal. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Eaton Stock

0.74	WD	Walker Dunlop	Pair Corr
0.86	RKT	Rocket Companies	Pair Corr
0.78	UWMC	UWM Holdings Corp	Pair Corr

Moving against Eaton Stock

0.62	GECC	Great Elm Capital	Pair Corr
0.57	MAIN	Main Street Capital	Pair Corr
0.39	V	Visa Class A	Pair Corr
0.35	AXP	American Express	Pair Corr
0.34	GCMG	GCM Grosvenor	Pair Corr
0.34	ARCC	Ares Capital Earnings Call This Week	Pair Corr
0.34	ARES	Ares Management LP Earnings Call This Week	Pair Corr
0.31	APO	Apollo Global Management Earnings Call This Week	Pair Corr
0.54	LC	LendingClub Corp	Pair Corr
0.48	LX	Lexinfintech Holdings Trending	Pair Corr
0.43	RM	Regional Management Corp Earnings Call This Week	Pair Corr
0.35	HG	Hamilton Insurance Group,	Pair Corr

Related Correlations Analysis

	CXH	CBH	IHTA	FMN	NXC	EOT	MHN	IHIT	JHAA	MQY
CXH		-0.25	-0.38	0.71	0.34	0.64	0.86	-0.03	-0.28	0.78	CXH
CBH	-0.25		0.93	-0.49	-0.83	-0.76	-0.43	-0.48	0.92	-0.68	CBH
IHTA	-0.38	0.93		-0.67	-0.87	-0.86	-0.55	-0.51	0.87	-0.77	IHTA
FMN	0.71	-0.49	-0.67		0.65	0.87	0.82	0.35	-0.5	0.89	FMN
NXC	0.34	-0.83	-0.87	0.65		0.84	0.57	0.44	-0.84	0.74	NXC
EOT	0.64	-0.76	-0.86	0.87	0.84		0.78	0.47	-0.74	0.93	EOT
MHN	0.86	-0.43	-0.55	0.82	0.57	0.78		-0.01	-0.5	0.89	MHN
IHIT	-0.03	-0.48	-0.51	0.35	0.44	0.47	-0.01		-0.29	0.25	IHIT
JHAA	-0.28	0.92	0.87	-0.5	-0.84	-0.74	-0.5	-0.29		-0.67	JHAA
MQY	0.78	-0.68	-0.77	0.89	0.74	0.93	0.89	0.25	-0.67		MQY
	CXH	CBH	IHTA	FMN	NXC	EOT	MHN	IHIT	JHAA	MQY

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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

IHTA	+ 0.93	CBH
MQY	+ 0.93	EOT
JHAA	+ 0.92	CBH
MQY	+ 0.89	FMN
MQY	+ 0.89	MHN
JHAA	+ 0.87	IHTA

High negative correlations

NXC	- 0.87	IHTA
EOT	- 0.86	IHTA
JHAA	- 0.84	NXC
NXC	- 0.83	CBH
MQY	- 0.77	IHTA
EOT	- 0.76	CBH

Risk-Adjusted Indicators

There is a big difference between Eaton Stock performing well and Eaton Vance Company 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 Eaton Vance'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
CXH	0.43	(0.01)	(0.12)	(0.29)	0.68	(0.40)	0.76	(1.01)	3.18
CBH	0.13	0.03	(0.26)	0.86	0.00	(0.18)	0.22	(0.22)	0.78
IHTA	0.23	0.05	(0.09)	(1.16)	0.25	(0.31)	0.68	(0.27)	2.03
FMN	0.50	(0.06)	0.00	(0.25)	0.00	0.00	1.07	(1.09)	2.60
NXC	0.43	(0.06)	0.00	(0.40)	0.00	0.00	0.82	(0.97)	3.97
EOT	0.46	(0.07)	0.00	(0.67)	0.00	0.00	0.87	(1.01)	2.88
MHN	0.48	(0.02)	0.00	(0.09)	0.00	0.00	0.96	(1.13)	2.69
IHIT	0.46	(0.04)	0.00	0.81	0.00	0.00	1.07	(1.18)	2.70
JHAA	0.15	0.02	(0.32)	8.45	0.00	(0.20)	0.33	(0.22)	0.96
MQY	0.57	(0.09)	0.00	(0.24)	0.00	0.00	0.99	(1.13)	3.70

Eaton Vance Corporate Management

James Kirchner	Principal Financial Accounting Officer, Treasurer	Profile
Mark Fetting	Independent Trustee	Profile
Richard Froio	Chief Compliance Officer	Profile
Valerie Mosley	Independent Trustee	Profile
Payson CFA	Chief VP	Profile

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