Eventide Exponential Correlations

ETCEX Fund

USD 12.81 0.11 0.87%

The current 90-days correlation between Eventide Exponential and Aqr Diversified Arbitrage is -0.27 (i.e., Very good diversification). The correlation of Eventide Exponential 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 Exponential Correlation With Market

Weak diversification

The correlation between Eventide Exponential Technolog 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 Eventide Exponential Technolog 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 Exponential Technologies. 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 income.

Moving together with Eventide Mutual Fund

0.66	PENG	Penguin Solutions, Symbol Change	Pair Corr
0.8	ETAGX	Eventide Gilead	Pair Corr
1.0	ETAEX	Eventide Exponential	Pair Corr

Moving against Eventide Mutual Fund

0.57	DVLT	Datavault AI Symbol Change	Pair Corr
0.5	FMTO	Femto Technologies Symbol Change	Pair Corr
0.44	VISL	Vislink Technologies Tech Boost	Pair Corr
0.42	FOXX	Foxx Development Holdings Trending	Pair Corr
0.37	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.47	VEEAW	Veea Inc Symbol Change	Pair Corr
0.37	NOVA	Sunnova Energy Inter	Pair Corr
0.32	MYNA	Mynaric AG ADR	Pair Corr

Related Correlations Analysis

	QDARX	MNDWX	MDBSX	LIGFX	FPTPX	FHCOX	BICPX	TFCAX
QDARX		0.08	0.16	0.36	0.23	0.93	0.29	0.85	QDARX
MNDWX	0.08		0.95	0.77	0.8	0.11	0.85	0.19	MNDWX
MDBSX	0.16	0.95		0.75	0.79	0.2	0.86	0.29	MDBSX
LIGFX	0.36	0.77	0.75		0.95	0.33	0.97	0.35	LIGFX
FPTPX	0.23	0.8	0.79	0.95		0.17	0.95	0.19	FPTPX
FHCOX	0.93	0.11	0.2	0.33	0.17		0.27	0.93	FHCOX
BICPX	0.29	0.85	0.86	0.97	0.95	0.27		0.33	BICPX
TFCAX	0.85	0.19	0.29	0.35	0.19	0.93	0.33		TFCAX
	QDARX	MNDWX	MDBSX	LIGFX	FPTPX	FHCOX	BICPX	TFCAX

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Risk-Adjusted Indicators

There is a big difference between Eventide Mutual Fund performing well and Eventide Exponential 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 Exponential'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
QDARX	0.08	0.02	0.18	(18.13)	0.00	(0.13)	0.25	(0.16)	0.49
MNDWX	0.12	0.01	0.05	0.59	0.11	(0.16)	0.29	(0.29)	0.97
MDBSX	0.23	0.03	0.12	(0.43)	0.11	(0.32)	0.75	(0.38)	1.38
LIGFX	0.28	0.02	0.06	0.08	0.36	(0.29)	0.55	(0.43)	1.91
FPTPX	0.29	0.02	0.04	0.07	0.46	(0.30)	0.61	(0.52)	2.15
FHCOX	0.05	0.01	0.00	(1.69)	0.00	0.00	0.10	(0.10)	0.50
BICPX	0.23	0.02	0.07	0.09	0.23	(0.30)	0.54	(0.45)	1.80
TFCAX	0.03	0.00	0.00	(0.60)	0.00	0.00	0.10	0.00	0.40

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