Eventide Exponential Correlations
| ETNEX Fund | USD 13.53 0.05 0.37% |
The current 90-days correlation between Eventide Exponential and Eventide Exponential Technologies is 1.0 (i.e., No risk reduction). 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
Very poor diversification
The correlation between Eventide Exponential Technolog and DJI is 0.83 (i.e., Very poor 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.
Eventide |
Moving together with Eventide Mutual Fund
| 0.8 | WEBB | Web Global Holdings | PairCorr |
| 0.71 | WELX | Winland Holdings | PairCorr |
| 0.81 | WGNR | Wegener | PairCorr |
| 0.69 | CETXP | Cemtrex Pref | PairCorr |
| 0.63 | ENV | Envestnet | PairCorr |
| 0.61 | GVP | GSE Systems | PairCorr |
| 0.66 | ITI | Iteris Inc | PairCorr |
Moving against Eventide Mutual Fund
| 0.78 | EVOL | Evolving Systems | PairCorr |
| 0.73 | XELAP | Exela Technologies | PairCorr |
| 0.72 | DZSI | DZS Inc | PairCorr |
| 0.71 | DLPX | Delphax Technologies | PairCorr |
| 0.62 | SBIGW | SpringBig Holdings | PairCorr |
| 0.5 | ELCO | Elcom International | PairCorr |
| 0.48 | VHAI | VHAI | PairCorr |
| 0.47 | VVPR | VivoPower International Tech Boost | PairCorr |
| 0.38 | VEEA | Veea Inc Symbol Change | PairCorr |
| 0.88 | ZPTA | Zapata Computing Holdings Symbol Change | PairCorr |
| 0.85 | VLD | Velo3D Inc | PairCorr |
| 0.85 | ZPTAW | Zapata Computing Holdings | PairCorr |
| 0.81 | GETR | Getaround Financial Report 20th of December 2024 | PairCorr |
| 0.69 | XELA | Exela Technologies Tech Boost | PairCorr |
| 0.52 | SURGW | SurgePays Warrant | PairCorr |
| 0.48 | IQST | Iqstel Inc | PairCorr |
Related Correlations Analysis
| 1.0 | 1.0 | -0.12 | 0.59 | ETIEX | ||
| 1.0 | 1.0 | -0.11 | 0.58 | ETCEX | ||
| 1.0 | 1.0 | -0.12 | 0.58 | ETAEX | ||
| -0.12 | -0.11 | -0.12 | 0.12 | ETNHX | ||
| 0.59 | 0.58 | 0.58 | 0.12 | FIKGX | ||
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ETIEX | 0.96 | 0.01 | 0.05 | 0.13 | 1.19 | 2.18 | 7.38 | |||
| ETCEX | 0.96 | 0.01 | 0.04 | 0.13 | 1.18 | 2.18 | 7.29 | |||
| ETAEX | 0.96 | 0.01 | 0.05 | 0.13 | 1.24 | 2.20 | 7.37 | |||
| ETNHX | 1.02 | (0.15) | 0.00 | (0.01) | 0.00 | 2.25 | 7.57 | |||
| FIKGX | 1.58 | (0.15) | (0.03) | 0.03 | 2.42 | 3.25 | 9.85 |