Eaton Vance Correlations

Mutual Funds USA . 
Fund . Eaton Vance Atlanta Capital
ERLGX Fund   18.23  0.20  1.11%   
The current 90-days correlation between Eaton Vance Atlanta and Eaton Vance Atlanta is 0.85 (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 Atlanta Capital and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Atlanta Capital 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 Atlanta Capital. 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 price.

Moving together with Eaton Mutual Fund

  0.78ERASX Eaton Vance AtlantaPairCorr
  0.86ERIFX Eaton Vance BalancedPairCorr
  0.62ERHSX Eaton Vance WorldwidePairCorr
  0.7ERLVX Eaton Vance LargePairCorr
  1.0EAALX Eaton Vance AtlantaPairCorr
  0.72ERSTX Eaton Vance LargePairCorr
  0.82ERSMX Eaton Vance AtlantaPairCorr
  0.81EAASX Eaton Vance AtlantaPairCorr
  0.7EADIX Eaton Vance TaxPairCorr
  0.78EAFVX Eaton Vance ValPairCorr

Moving against Eaton Mutual Fund

  0.42ERGMX Eaton Vance GlobalPairCorr
  0.38EADOX Eaton Vance EmergingPairCorr
  0.35EABLX Eaton Vance FloatingPairCorr
  0.42EAGMX Eaton Vance GlobalPairCorr

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   
PFPFX
+ 0.9
EAASX
PFPFX
+ 0.84
CSIEX
CSIEX
+ 0.77
EAASX
BAWAX
+ 0.73
EAASX
BAWAX
+ 0.67
SAGAX
BAWAX
+ 0.47
CSIEX
  
High negative correlations   
SAGAX
- 0.2
CSIEX
PFPFX
- 0.11
SAGAX

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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