Eaton Vance Correlations

Mutual Funds . USA . 
Fund . Eaton Vance Multi Asset
ERAMX Fund  USD 9.85  0.01  0.10%   
The current 90-days correlation between Eaton Vance Multi and Financial Industries Fund is 0.25 (i.e., Modest 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

Weak diversification

The correlation between Eaton Vance Multi Asset and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Multi Asset 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 Multi Asset. 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 Eaton Mutual Fund

  0.85EMAIX Eaton Vance MsschstsPairCorr
  0.79EMOCX Eaton Vance MunicipalPairCorr
  0.8EMOAX Eaton Vance MunicipalPairCorr
  0.8EMOIX Eaton Vance MunicipalPairCorr
  0.7ENYIX Eaton Vance NewPairCorr
  0.85ERHIX Eaton Vance HighPairCorr
  0.7ERGMX Eaton Vance GlobalPairCorr
  0.87ERIBX Eaton Vance IncomePairCorr
  0.81ERHSX Eaton Vance WorldwidePairCorr
  0.64ERISX Parametric Intl EquityPairCorr
  0.89EAAMX Eaton Vance MultiPairCorr
  0.72ERSIX Eaton Vance ShortPairCorr
  0.86EABLX Eaton Vance FloatingPairCorr
  0.69EACAX Eaton Vance CaliforniaPairCorr
  0.81EABSX Eaton Vance TabsPairCorr
  0.8EADOX Eaton Vance EmergingPairCorr
  0.69EADIX Eaton Vance TaxPairCorr
  0.9EAFHX Eaton Vance FloatingPairCorr

Moving against Eaton Mutual Fund

  0.38ERASX Eaton Vance AtlantaPairCorr
  0.39ERSMX Eaton Vance AtlantaPairCorr
  0.39EAASX Eaton Vance AtlantaPairCorr

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   
FAFSX
+ 0.95
FIDAX
FNPIX
+ 0.84
FAFSX
FNPIX
+ 0.75
FIDAX
FNPIX
+ 0.64
XFINX
FAFSX
+ 0.58
XFINX
XFINX
+ 0.51
FIDAX
  
High negative correlations   
FNPIX
- 0.0
IVMXX
FAFSX
- 0.0
IVMXX
IVMXX
- 0.0
XFINX
IVMXX
- 0.0
FIDAX

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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