Eaton Vance Correlations

EOS Etf  USD 24.16  0.09  0.37%   
The current 90-days correlation between Eaton Vance Enhanced and Columbia Seligman Premium is 0.8 (i.e., Very poor 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

Poor diversification

The correlation between Eaton Vance Enhanced and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Enhanced 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 Enhanced. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Eaton Etf

  0.91JPST JPMorgan Ultra Short Sell-off TrendPairCorr
  0.98INTL Main International ETF Low VolatilityPairCorr
  0.97EMC Global X FundsPairCorr
  0.88ERET iShares EnvironmentallyPairCorr
  0.61FXC Invesco CurrencySharesPairCorr
  0.96DIVS SmartETFs DividendPairCorr
  0.96XLF Financial Select SectorPairCorr
  0.98LRNZ Elevation Series TrustPairCorr
  0.96PAMC Pacer Lunt MidCapPairCorr
  0.99VOO Vanguard SP 500PairCorr
  0.84VCIT Vanguard Intermediate Sell-off TrendPairCorr
  0.99USXF iShares ESG AdvancedPairCorr
  0.84XONE Bondbloxx Bloomberg OnePairCorr
  0.97KFEB Innovator Small CapPairCorr
  0.88FJP First Trust JapanPairCorr
  0.94GAA Cambria Global AssetPairCorr
  0.95XLY Consumer DiscretionaryPairCorr
  0.99AOR iShares Core GrowthPairCorr
  0.85WCLD WisdomTree Cloud ComPairCorr
  0.89SMCY YieldMax SMCI OptionPairCorr
  0.81NDIV Amplify ETF TrustPairCorr
  0.98GSIB Themes Global SystemPairCorr
  0.82LDUR PIMCO Enhanced LowPairCorr
  0.97FEZ SPDR EURO STOXXPairCorr
  0.99ESGG FlexShares STOXX GlobalPairCorr
  0.98TJAN Innovator Equity DefinedPairCorr
  0.97EZU iShares MSCI Eurozone Low VolatilityPairCorr
  0.97PQJA PGIM Nasdaq 100PairCorr
  0.97VYM Vanguard High DividendPairCorr
  0.96PQDI Principal ExchangePairCorr
  0.87MATH Metalpha TechnologyPairCorr
  0.85ORCX Defiance Daily TargetPairCorr
  1.0NBGX Neuberger Berman ETFPairCorr

Moving against Eaton Etf

  0.98VXX iPath Series BPairCorr
  0.97FNGD MicroSectors FANG IndexPairCorr
  0.66SMI Van EckPairCorr

Related Correlations Analysis

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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   
MSFTMETA
JPMMSFT
JPMMETA
AMETA
JPMF
FUBER
  
High negative correlations   
MRKCRM
XOMCRM

Eaton Vance Competition Risk-Adjusted Indicators

There is a big difference between Eaton Etf performing well and Eaton Vance ETF 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.47  0.27  0.25  0.41  0.82 
 3.99 
 10.48 
MSFT  0.84  0.33  0.36  0.63  0.00 
 2.33 
 8.85 
UBER  1.60  0.05  0.05  0.25  1.44 
 4.19 
 10.87 
F  1.29  0.10  0.04  0.33  1.40 
 2.69 
 7.46 
T  1.00 (0.02)(0.12) 0.14  1.30 
 2.35 
 5.71 
A  1.53 (0.10) 0.02  0.14  1.77 
 2.82 
 14.01 
CRM  1.30 (0.17)(0.04) 0.09  1.64 
 2.95 
 9.31 
JPM  0.88  0.19  0.16  0.40  0.54 
 2.25 
 6.03 
MRK  1.40 (0.08)(0.04) 0.13  1.82 
 2.90 
 10.58 
XOM  1.10 (0.01)(0.10) 0.16  1.39 
 2.18 
 6.28