Eaton Vance Correlations

Mutual Funds . USA . 
Fund . Eaton Vance Worldwide
ERHSX Fund  USD 14.90  0.08  0.54%   
The current 90-days correlation between Eaton Vance Worldwide and Advent Claymore Convertible is 0.09 (i.e., Significant 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

Very weak diversification

The correlation between Eaton Vance Worldwide and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Worldwide 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 Worldwide. 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 state.

Moving together with Eaton Mutual Fund

  0.83EMAIX Eaton Vance MsschstsPairCorr
  0.75EMOCX Eaton Vance MunicipalPairCorr
  0.77EMOAX Eaton Vance MunicipalPairCorr
  0.79EMOIX Eaton Vance MunicipalPairCorr
  0.66ENYIX Eaton Vance NewPairCorr
  0.86ERAMX Eaton Vance MultiPairCorr
  0.66EREMX Eaton Vance ParametricPairCorr
  0.9ERHIX Eaton Vance HighPairCorr
  0.63ERGOX Eaton Vance GovernmentPairCorr
  0.79ERGMX Eaton Vance GlobalPairCorr
  0.9ERIBX Eaton Vance IncomePairCorr
  0.71ERISX Parametric Intl EquityPairCorr
  0.87EAAMX Eaton Vance MultiPairCorr
  0.8ERSIX Eaton Vance ShortPairCorr
  0.72EABLX Eaton Vance FloatingPairCorr
  0.81EABSX Eaton Vance TabsPairCorr
  0.86EADOX Eaton Vance EmergingPairCorr
  0.85EADIX Eaton Vance TaxPairCorr
  0.63EAEMX Parametric EmergingPairCorr
  0.76EAFHX Eaton Vance FloatingPairCorr

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   
PCNTX
+ 0.95
XAVKX
LCFYX
+ 0.84
XAVKX
LCFYX
+ 0.84
PCNTX
  
High negative correlations   
ARBOX
- 0.52
PCNTX
ARBOX
- 0.35
XAVKX
LCFYX
- 0.12
ARBOX

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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