Eaton Vance Correlations

EVCGX Fund  USD 16.69  0.31  1.82%   
The current 90-days correlation between Eaton Vance Greater and Columbia Greater China is 0.98 (i.e., Almost no 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

Good diversification

The correlation between Eaton Vance Greater and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Greater 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 Greater. 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 price.

Moving together with Eaton Mutual Fund

  0.79FHKTX Fidelity China RegionPairCorr
  0.79FCHKX Fidelity China RegionPairCorr
  0.78FHKAX Fidelity China RegionPairCorr
  0.79FHKIX Fidelity China RegionPairCorr
  0.96FIQFX Fidelity China RegionPairCorr
  0.96FHKCX Fidelity China RegionPairCorr
  0.85MICFX Matthews ChinaPairCorr
  0.85MCHFX Matthews ChinaPairCorr
  0.8UGPIX Ultrachina ProfundPairCorr
  0.8UGPSX Ultrachina ProfundPairCorr
  0.87PMPIX Precious Metals UltrPairCorr
  0.67PG Procter GamblePairCorr
  0.78KO Coca ColaPairCorr
  0.75T ATT Inc Earnings Call TomorrowPairCorr
  0.81VZ Verizon CommunicationsPairCorr

Moving against Eaton Mutual Fund

  0.5DIS Walt DisneyPairCorr
  0.41CISGX Touchstone Sands CapitalPairCorr
  0.6CAT CaterpillarPairCorr
  0.51HD Home DepotPairCorr
  0.5AA Alcoa CorpPairCorr
  0.49HPQ HP IncPairCorr
  0.4MRK Merck CompanyPairCorr
  0.31PFE Pfizer IncPairCorr
  0.31BA BoeingPairCorr

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   
ICHKXNGCAX
GOPAXNGCAX
GOPAXICHKX
USCOXNGCAX
USCOXICHKX
GOPAXUSCOX
  
High negative correlations   
ETGIXGOPAX
ETGIXNGCAX
ETGIXICHKX
ETGIXUSCOX
GOPAXUSCOX
USCOXICHKX

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.