Eventide Healthcare Correlations
| ETAHX Fund | USD 32.14 0.56 1.71% |
The current 90-days correlation between Eventide Healthcare Life and Federated Clover Small is -0.05 (i.e., Good diversification). The correlation of Eventide Healthcare 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 Healthcare Correlation With Market
Very weak diversification
The correlation between Eventide Healthcare Life and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eventide Healthcare Life and DJI in the same portfolio, assuming nothing else is changed.
Eventide |
Moving together with Eventide Mutual Fund
| 0.81 | ETAMX | Eventide Multi Asset | PairCorr |
| 0.92 | ETAGX | Eventide Gilead | PairCorr |
| 0.86 | ETAEX | Eventide Exponential | PairCorr |
| 0.8 | ETADX | Eventide Global Dividend | PairCorr |
| 0.81 | ETCMX | Eventide Multi Asset | PairCorr |
| 1.0 | ETCHX | Eventide Healthcare Life | PairCorr |
| 0.86 | ETCEX | Eventide Exponential | PairCorr |
| 0.88 | ETGLX | Eventide Gilead | PairCorr |
| 0.86 | ETIEX | Eventide Exponential | PairCorr |
| 0.8 | ETIDX | Eventide Global Dividend | PairCorr |
| 0.8 | ETIMX | Eventide Multi Asset | PairCorr |
| 0.88 | ETILX | Eventide Gilead | PairCorr |
| 1.0 | ETIHX | Eventide Healthcare Life | PairCorr |
| 0.87 | ETLIX | Eventide Large Cap | PairCorr |
| 0.86 | ETLCX | Eventide Large Cap | PairCorr |
| 0.87 | ETLAX | Eventide Large Cap | PairCorr |
| 0.81 | ETNMX | Eventide Multi Asset | PairCorr |
| 1.0 | ETNHX | Eventide Healthcare Life | PairCorr |
| 0.86 | ETNEX | Eventide Exponential | PairCorr |
| 0.8 | ETNDX | Eventide Global Dividend | PairCorr |
| 0.75 | PRHSX | T Rowe Price | PairCorr |
| 0.87 | THISX | T Rowe Price | PairCorr |
| 0.65 | FSPHX | Health Care Portfolio | PairCorr |
| 0.61 | WRHIX | Ivy High Income | PairCorr |
| 0.65 | WHIAX | Ivy High Income | PairCorr |
Moving against Eventide Mutual Fund
Related Correlations Analysis
| 0.76 | 0.5 | 0.93 | 0.9 | 0.92 | VSFSX | ||
| 0.76 | 0.72 | 0.77 | 0.87 | 0.73 | GLVIX | ||
| 0.5 | 0.72 | 0.41 | 0.48 | 0.35 | ANTMX | ||
| 0.93 | 0.77 | 0.41 | 0.95 | 0.99 | HSCVX | ||
| 0.9 | 0.87 | 0.48 | 0.95 | 0.93 | QLMSTX | ||
| 0.92 | 0.73 | 0.35 | 0.99 | 0.93 | CMPAX | ||
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Risk-Adjusted Indicators
There is a big difference between Eventide Mutual Fund performing well and Eventide Healthcare 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 Healthcare'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 Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VSFSX | 0.90 | (0.13) | 0.00 | 1.35 | 0.00 | 1.64 | 5.18 | |||
| GLVIX | 0.93 | (0.04) | 0.00 | (0.04) | 0.00 | 1.52 | 5.60 | |||
| ANTMX | 0.73 | (0.01) | (0.01) | 0.06 | 1.03 | 1.48 | 5.64 | |||
| HSCVX | 0.81 | (0.10) | 0.00 | (0.11) | 0.00 | 1.45 | 3.38 | |||
| QLMSTX | 1.04 | (0.12) | 0.00 | (0.10) | 0.00 | 1.75 | 5.65 | |||
| CMPAX | 0.77 | (0.11) | 0.00 | (0.12) | 0.00 | 1.21 | 3.50 |