Parametric Modity Correlations

Mutual Funds . USA . 
Fund . Parametric Modity Strategy
EIPCX Fund  USD 6.80  0.01  0.15%   
The current 90-days correlation between Parametric Modity and Jpmorgan Diversified Fund is -0.11 (i.e., Good diversification). The correlation of Parametric Modity 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.

Parametric Modity Correlation With Market

Good diversification

The correlation between Parametric Modity Strategy and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Parametric Modity Strategy 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 Parametric Modity Strategy. 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 Parametric Mutual Fund

  0.69EMAIX Eaton Vance MsschstsPairCorr
  0.62ERASX Eaton Vance AtlantaPairCorr
  0.82ERAMX Eaton Vance MultiPairCorr
  0.78ERBIX Eaton Vance RichardPairCorr
  0.78ERBCX Eaton Vance RichardPairCorr
  0.79ERBAX Eaton Vance RichardPairCorr
  0.82EREMX Eaton Vance ParametricPairCorr
  0.83ERHIX Eaton Vance HighPairCorr
  0.85ERGMX Eaton Vance GlobalPairCorr
  0.8ERIFX Eaton Vance BalancedPairCorr
  0.82ERIBX Eaton Vance IncomePairCorr
  0.78ERISX Parametric Intl EquityPairCorr
  0.64ERLGX Eaton Vance AtlantaPairCorr
  0.79ERLVX Eaton Vance LargePairCorr
  0.83EAAMX Eaton Vance MultiPairCorr
  0.64EAALX Eaton Vance AtlantaPairCorr
  0.79ERSTX Eaton Vance LargePairCorr
  0.61ERSMX Eaton Vance AtlantaPairCorr
  0.82ERSIX Eaton Vance ShortPairCorr
  0.81EABLX Eaton Vance FloatingPairCorr
  0.62EAASX Eaton Vance AtlantaPairCorr
  0.75EACPX Eaton Vance TaxPairCorr
  0.82EACOX Eaton Vance GlobalPairCorr
  0.78EABSX Eaton Vance TabsPairCorr
  0.85EADOX Eaton Vance EmergingPairCorr
  0.79EADIX Eaton Vance TaxPairCorr
  0.79EAERX Eaton Vance StockPairCorr
  0.82EAEMX Parametric EmergingPairCorr
  0.78EAEAX Eaton Vance TaxPairCorr
  0.77EAFVX Eaton Vance ValPairCorr
  0.78EAFHX Eaton Vance FloatingPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Parametric Mutual Fund performing well and Parametric Modity 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 Parametric Modity'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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