Eaton Vance Correlations

Mutual Funds USA . 
Fund . Eaton Vance High
ETHYX Fund  USD 8.16  0.03  0.37%   
The current 90-days correlation between Eaton Vance High and Eaton Vance Msschsts is 0.95 (i.e., Almost no 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

Good diversification

The correlation between Eaton Vance High and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance High 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 High. 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 manufacturing.

Moving together with Eaton Mutual Fund

  0.95EMAIX Eaton Vance MsschstsPairCorr
  0.97EMOCX Eaton Vance MunicipalPairCorr
  0.99EMOAX Eaton Vance MunicipalPairCorr
  0.99EMOIX Eaton Vance MunicipalPairCorr
  0.77EIM Eaton Vance MbfPairCorr
  0.97ENYIX Eaton Vance NewPairCorr
  0.61ERGOX Eaton Vance GovernmentPairCorr
  0.62ERIBX Eaton Vance IncomePairCorr
  0.66ERSIX Eaton Vance ShortPairCorr
  0.96EACAX Eaton Vance CaliforniaPairCorr
  0.93EABSX Eaton Vance TabsPairCorr

Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
EMAIX  0.10 (0.02) 0.00  0.76  0.00 
 0.00 
 0.20 
(0.30)
 0.91 
EMOCX  0.20 (0.03) 0.00  0.68  0.00 
 0.00 
 0.35 
(0.44)
 1.59 
EMOAX  0.19 (0.03) 0.00  0.74  0.00 
 0.00 
 0.35 
(0.52)
 1.59 
EMOIX  0.19 (0.03) 0.00  0.66  0.00 
 0.00 
 0.35 
(0.44)
 1.59 
EIM  0.49 (0.06) 0.00 (0.45) 0.00 
 0.00 
 1.03 
(1.05)
 2.86 
ENYIX  0.19 (0.03) 0.00  0.56  0.00 
 0.00 
 0.32 
(0.52)
 1.48 
ERASX  0.67 (0.10) 0.00 (0.08) 0.00 
 0.00 
 1.35 
(1.12)
 6.15 
ERAMX  0.08  0.00 (0.16) 0.13  0.00 
(0.16)
 0.10 
(0.10)
 0.91 
ERBIX  0.49 (0.03) 0.00 (0.01) 0.00 
 0.00 
 0.79 
(0.94)
 4.72 
ERBCX  0.49 (0.03) 0.00 (0.02) 0.00 
 0.00 
 0.82 
(0.96)
 4.77 

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