Eaton Vance Correlations

Mutual Funds . USA . 
Fund . Eaton Vance California
XEVMX Fund  USD 10.33  0.05  0.49%   
The current 90-days correlation between Eaton Vance California and Guidemark Large Cap is 0.07 (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

Significant diversification

The correlation between Eaton Vance California and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance California and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Eaton Vance California. 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 population.

Moving against Eaton Mutual Fund

  0.64FSLBX Brokerage And InvestmentPairCorr
  0.62VIGAX Vanguard Growth IndexPairCorr
  0.59CCLFX Cliffwater CorporatePairCorr
  0.59AMEIX Equity GrowthPairCorr
  0.58CICVX Calamos VertiblePairCorr
  0.57VITSX Vanguard Total StockPairCorr
  0.57VNVAX Vaughan Nelson ValuePairCorr
  0.57DLCIX Dana Large CapPairCorr
  0.56VTSAX Vanguard Total StockPairCorr
  0.56VFIAX Vanguard 500 IndexPairCorr
  0.56VSTSX Vanguard Total StockPairCorr
  0.56VSMPX Vanguard Total StockPairCorr
  0.56VFINX Vanguard 500 IndexPairCorr
  0.56PGKAX Pgim Jennison TechnologyPairCorr
  0.55VTSMX Vanguard Total StockPairCorr
  0.55RNGHX New Economy FundPairCorr
  0.55RUDAX Dreyfusthe Boston PanyPairCorr
  0.54VFFSX Vanguard 500 IndexPairCorr
  0.53PLVYX Pace Large ValuePairCorr
  0.53VSEQX Vanguard Strategic EquityPairCorr
  0.52MRLSX Amg Renaissance LargePairCorr
  0.49PRDSX T Rowe PricePairCorr
  0.46VWENX Vanguard WellingtonPairCorr
  0.36VTWAX Vanguard Total WorldPairCorr
  0.67LMORX Miller Opportunity TrustPairCorr
  0.63ADX Adams Diversified EquityPairCorr
  0.6WCPSX Mobile TelecommunicatioPairCorr
  0.59VTCAX Vanguard TelecommunicatioPairCorr
  0.59FSPGX Fidelity Large CapPairCorr
  0.58LMISX Qs Large CapPairCorr
  0.58AMONX Aqr Large CapPairCorr
  0.57FNILX Fidelity Zero LargePairCorr
  0.57FCNTX Fidelity ContrafundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Eaton Mutual Fund performing well and Eaton Vance 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 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.

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