Eaton Vance Correlations

Mutual Funds . USA . 
Fund . Eaton Vance Worldwide
ECHSX Fund  USD 14.05  0.02  0.14%   
The current 90-days correlation between Eaton Vance Worldwide and Blackrock Pa Muni is 0.08 (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

Weak diversification

The correlation between Eaton Vance Worldwide and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Worldwide 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 Worldwide. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Eaton Mutual Fund

  0.97VGHAX Vanguard Health CarePairCorr
  0.97VGHCX Vanguard Health CarePairCorr
  0.95PRHSX T Rowe PricePairCorr
  0.95THISX T Rowe PricePairCorr
  0.98VHCIX Vanguard Health CarePairCorr
  0.97SHISX Blackrock Health SciencesPairCorr
  0.97SHSCX Blackrock Health SciencesPairCorr
  0.97SHSAX Blackrock Health SciencesPairCorr
  0.97SHSSX Blackrock Health SciencesPairCorr
  0.95FSPHX Health Care PortfolioPairCorr
  0.74GPICX Guidepath ConservativePairCorr
  0.73CSCO Cisco SystemsPairCorr
  0.63AA Alcoa CorpPairCorr
  0.68MMM 3M CompanyPairCorr
  0.77JNJ Johnson JohnsonPairCorr

Moving against Eaton Mutual Fund

  0.54MSGUX Growth Portfolio ClassPairCorr
  0.53MGHRX Morgan Stanley InstiPairCorr
  0.53MGRPX Growth Portfolio ClassPairCorr
  0.52MSCMX Morgan Stanley MultiPairCorr
  0.51MBIRX Morgan Stanley InsightPairCorr
  0.51MCRTX Morgan Stanley MultiPairCorr
  0.64HPQ HP Inc Earnings Call TomorrowPairCorr
  0.61VZ Verizon CommunicationsPairCorr
  0.58BA BoeingPairCorr
  0.46CVX Chevron Corp Sell-off TrendPairCorr

Related Correlations Analysis


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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