Eventide Multi-asset Correlations

Mutual Funds . USA . 
Fund . Eventide Multi Asset Income
ETCMX Fund  USD 14.74  0.05  0.34%   
The current 90-days correlation between Eventide Multi Asset and Aqr Large Cap is -0.05 (i.e., Good diversification). The correlation of Eventide Multi-asset 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.

Eventide Multi-asset Correlation With Market

Very poor diversification

The correlation between Eventide Multi Asset Income and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eventide Multi Asset Income 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 Eventide Multi Asset Income. 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 together with Eventide Mutual Fund

  1.0ETAMX Eventide Multi AssetPairCorr
  0.97ETAGX Eventide GileadPairCorr
  0.99ETADX Eventide Global DividendPairCorr
  0.72ETCRX Eventide Core BondPairCorr
  0.84ETCHX Eventide Healthcare LifePairCorr
  0.97ETCGX Eventide GileadPairCorr
  0.91ETCEX Eventide ExponentialPairCorr
  0.99ETCDX Eventide Global DividendPairCorr
  0.89ETCBX Eventide Limitedterm BondPairCorr
  0.91ETIEX Eventide ExponentialPairCorr
  0.9ETIBX Eventide Limited TermPairCorr
  0.84ETIHX Eventide Healthcare LifePairCorr
  0.99ETLIX Eventide Large CapPairCorr
  0.99ETLCX Eventide Large CapPairCorr
  0.99ETLNX Eventide Large CapPairCorr
  1.0ETNMX Eventide Multi AssetPairCorr
  0.84ETNHX Eventide Healthcare LifePairCorr
  0.91ETNEX Eventide ExponentialPairCorr
  0.99ETNDX Eventide Global DividendPairCorr
  0.9ETNBX Eventide Limited TermPairCorr
  0.75ETNRX Eventide Core BondPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Eventide Mutual Fund performing well and Eventide Multi-asset 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 Eventide Multi-asset'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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