Eaton Vance Correlations

ECSCX Fund

USD 8.85 0.01 0.11%

The current 90-days correlation between Eaton Vance South and High Yield Municipal Fund is -0.07 (i.e., Good 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

Very good diversification

The correlation between Eaton Vance South and DJI is -0.3 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance South 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 South. 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 main economic indicators.

Moving together with Eaton Mutual Fund

0.9	EIM	Eaton Vance Mbf	Pair Corr
0.71	EADIX	Eaton Vance Tax	Pair Corr
0.73	EAFAX	Eaton Vance Floating	Pair Corr
0.64	ESEIX	Eaton Vance Atlanta	Pair Corr
0.73	EATVX	Eaton Vance Tax	Pair Corr
0.66	ETMGX	Eaton Vance Tax	Pair Corr
0.76	ECBLX	Eaton Vance Floating	Pair Corr
0.84	ECHSX	Eaton Vance Worldwide	Pair Corr
1.0	ECMNX	Eaton Vance Minnesota	Pair Corr
0.67	ECSMX	Eaton Vance Small	Pair Corr
0.62	ECTMX	Eaton Vance Dividend	Pair Corr
0.71	ECTGX	Eaton Vance Tax	Pair Corr
0.7	ECSTX	Eaton Vance Large	Pair Corr
0.73	ECTVX	Eaton Vance Tax	Pair Corr
0.71	EZTGX	Eaton Vance Tax	Pair Corr
0.91	EIHMX	Eaton Vance National	Pair Corr
1.0	EINYX	Eaton Vance New	Pair Corr
0.94	HICOX	Colorado Bondshares	Pair Corr
0.88	KYTFX	Kentucky Tax Free	Pair Corr
0.83	UVABX	Virginia Bond	Pair Corr
0.89	HULYX	Hawaiian Tax Free	Pair Corr
0.99	HULFX	Hawaiian Tax Free	Pair Corr
0.99	ORTYX	Aquila Tax Free	Pair Corr
0.99	UVAIX	Usaa Virginia Bond	Pair Corr
0.82	USVAX	Virginia Bond	Pair Corr
0.9	HULAX	Hawaiian Tax Free	Pair Corr

Moving against Eaton Mutual Fund

0.46	ECRRX	Eaton Vance Short	Pair Corr
0.69	EIIMX	Eaton Vance Diversified	Pair Corr
0.47	EEIAX	Eaton Vance Emerging	Pair Corr
0.46	EEIIX	Eaton Vance Emerging	Pair Corr
0.43	EEICX	Eaton Vance Emerging	Pair Corr
0.77	SAEXX	State Street Institu	Pair Corr
0.42	PELBX	Pimco Emerging Local	Pair Corr

Related Correlations Analysis

	ABHYX	LBHIX	MSTSX	VIASP	XTWO	OGEAX	KNG	KNF	AMPL	XTWY
ABHYX		0.44	0.43	-0.17	-0.65	0.45	0.63	-0.04	-0.4	0.73	ABHYX
LBHIX	0.44		0.91	0.54	-0.31	0.83	0.81	0.54	-0.16	0.11	LBHIX
MSTSX	0.43	0.91		0.43	-0.45	0.84	0.78	0.6	-0.23	0.07	MSTSX
VIASP	-0.17	0.54	0.43		0.52	0.15	0.13	0.29	0.04	-0.26	VIASP
XTWO	-0.65	-0.31	-0.45	0.52		-0.64	-0.63	-0.3	0.3	-0.36	XTWO
OGEAX	0.45	0.83	0.84	0.15	-0.64		0.81	0.76	-0.15	0.03	OGEAX
KNG	0.63	0.81	0.78	0.13	-0.63	0.81		0.42	-0.39	0.38	KNG
KNF	-0.04	0.54	0.6	0.29	-0.3	0.76	0.42		0.08	-0.37	KNF
AMPL	-0.4	-0.16	-0.23	0.04	0.3	-0.15	-0.39	0.08		-0.45	AMPL
XTWY	0.73	0.11	0.07	-0.26	-0.36	0.03	0.38	-0.37	-0.45		XTWY
	ABHYX	LBHIX	MSTSX	VIASP	XTWO	OGEAX	KNG	KNF	AMPL	XTWY

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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

MSTSX	+ 0.91	LBHIX
OGEAX	+ 0.84	MSTSX
OGEAX	+ 0.83	LBHIX
KNG	+ 0.81	LBHIX
KNG	+ 0.81	OGEAX
KNG	+ 0.78	MSTSX

High negative correlations

XTWO	- 0.65	ABHYX
OGEAX	- 0.64	XTWO
KNG	- 0.63	XTWO
XTWY	- 0.45	AMPL
XTWO	- 0.45	MSTSX
AMPL	- 0.4	ABHYX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ABHYX	0.38	(0.04)	0.00	0.73	0.00	0.00	0.69	(1.53)	4.18
LBHIX	0.21	0.01	0.12	0.04	0.29	(0.33)	0.49	(0.49)	1.69
MSTSX	0.90	0.04	0.07	(0.42)	1.37	(0.96)	1.87	(1.54)	10.06
VIASP	0.63	0.14	0.25	1.51	0.61	(0.77)	1.81	(1.03)	4.84
XTWO	0.10	0.02	0.50	7.92	0.00	(0.11)	0.22	(0.22)	0.75
OGEAX	1.24	0.05	0.00	(0.02)	0.00	0.00	2.14	(2.67)	12.97
KNG	0.92	0.05	0.05	0.01	1.30	(0.93)	1.53	(1.73)	6.80
KNF	2.58	0.14	0.03	0.02	3.73	(2.35)	4.84	(5.26)	19.80
AMPL	5.26	0.23	0.05	(0.62)	5.55	(7.21)	13.45	(11.28)	47.72
XTWY	0.90	(0.05)	0.00	(1.02)	0.00	0.00	1.48	(1.84)	6.04

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