Eventide Limitedterm Correlations

ETCBX Fund

USD 9.98 0.01 0.10%

The current 90-days correlation between Eventide Limitedterm Bond and Franklin Lifesmart Retirement is 0.49 (i.e., Very weak diversification). The correlation of Eventide Limitedterm 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 Limitedterm Correlation With Market

Significant diversification

The correlation between Eventide Limitedterm Bond and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eventide Limitedterm Bond 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 Eventide Limitedterm Bond. 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 bureau of labor statistics.

Moving together with Eventide Mutual Fund

0.98	ETARX	Eventide Core Bond	Pair Corr
1.0	ETABX	Eventide Limited Term	Pair Corr
0.97	ETCRX	Eventide Core Bond	Pair Corr
1.0	ETIBX	Eventide Limited Term	Pair Corr
0.98	ETIRX	Eventide Core Bond	Pair Corr
1.0	ETNBX	Eventide Limited Term	Pair Corr
0.97	ETNRX	Eventide Core Bond	Pair Corr
0.98	VBIRX	Vanguard Short Term	Pair Corr
0.96	VFSUX	Vanguard Short Term	Pair Corr
0.98	VFSIX	Vanguard Short Term	Pair Corr
0.96	VFSTX	Vanguard Short Term	Pair Corr
0.98	VBITX	Vanguard Short Term	Pair Corr
0.98	VBISX	Vanguard Short Term	Pair Corr
0.94	LALDX	Lord Abbett Short	Pair Corr
0.99	VSCSX	Vanguard Short Term	Pair Corr

Moving against Eventide Mutual Fund

0.6	ETCEX	Eventide Exponential	Pair Corr
0.59	ETAEX	Eventide Exponential	Pair Corr
0.59	ETIEX	Eventide Exponential	Pair Corr
0.49	ETCGX	Eventide Gilead	Pair Corr
0.48	ETAGX	Eventide Gilead	Pair Corr
0.45	ETGLX	Eventide Gilead	Pair Corr
0.45	ETILX	Eventide Gilead	Pair Corr
0.34	ETCDX	Eventide Global Dividend	Pair Corr
0.32	ETADX	Eventide Global Dividend	Pair Corr
0.32	ETIDX	Eventide Global Dividend	Pair Corr
0.59	ETNEX	Eventide Exponential	Pair Corr
0.45	ETLCX	Eventide Large Cap	Pair Corr
0.43	ETLAX	Eventide Large Cap	Pair Corr
0.43	ETLNX	Eventide Large Cap	Pair Corr
0.42	ETLIX	Eventide Large Cap	Pair Corr
0.32	ETNDX	Eventide Global Dividend	Pair Corr

Related Correlations Analysis

	FLMTX	EXBAX	PGFCX	SXMAX	MURFX
FLMTX		0.97	0.89	0.8	0.8	FLMTX
EXBAX	0.97		0.86	0.8	0.81	EXBAX
PGFCX	0.89	0.86		0.77	0.8	PGFCX
SXMAX	0.8	0.8	0.77		0.87	SXMAX
MURFX	0.8	0.81	0.8	0.87		MURFX
	FLMTX	EXBAX	PGFCX	SXMAX	MURFX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Eventide Mutual Fund performing well and Eventide Limitedterm 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 Limitedterm'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
FLMTX	0.31	0.00	(0.01)	(0.01)	0.43	(0.30)	0.57	(0.66)	1.72
EXBAX	0.35	(0.01)	(0.02)	(0.03)	0.46	(0.37)	0.70	(0.69)	1.99
PGFCX	0.30	(0.01)	(0.02)	0.05	0.39	(0.34)	0.67	(0.48)	1.75
SXMAX	0.53	(0.10)	0.00	(0.21)	0.00	0.00	0.76	(0.96)	8.55
MURFX	0.32	(0.05)	0.00	(0.19)	0.00	0.00	0.58	(0.57)	2.82

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