Eventide Global Correlations

ETADX Fund

USD 20.10 0.12 0.60%

The current 90-days correlation between Eventide Global Dividend and Acadian Emerging Markets is 0.06 (i.e., Significant diversification). The correlation of Eventide Global 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 Global Correlation With Market

Significant diversification

The correlation between Eventide Global Dividend 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 Global Dividend 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 Global Dividend. 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 consumer price index.

Moving together with Eventide Mutual Fund

0.98	ETAMX	Eventide Multi Asset	Pair Corr
0.79	ETCMX	Eventide Multi Asset	Pair Corr
0.79	ETCDX	Eventide Global Dividend	Pair Corr
0.78	ETIDX	Eventide Global Dividend	Pair Corr
0.77	ETIMX	Eventide Multi Asset	Pair Corr
0.75	ETLCX	Eventide Large Cap	Pair Corr
0.88	ETLAX	Eventide Large Cap	Pair Corr
0.75	ETLNX	Eventide Large Cap	Pair Corr
0.77	ETNMX	Eventide Multi Asset	Pair Corr
0.78	ETNDX	Eventide Global Dividend	Pair Corr
0.79	VIMAX	Vanguard Mid Cap	Pair Corr
0.79	VIMSX	Vanguard Mid Cap	Pair Corr
0.79	VMCPX	Vanguard Mid Cap	Pair Corr
0.79	VMCIX	Vanguard Mid Cap	Pair Corr
0.7	VEXAX	Vanguard Extended Market	Pair Corr
0.7	VEMPX	Vanguard Extended Market	Pair Corr
0.71	VIEIX	Vanguard Extended Market	Pair Corr
0.71	VEXMX	Vanguard Extended Market	Pair Corr
0.71	FSMDX	Fidelity Mid Cap	Pair Corr

Moving against Eventide Mutual Fund

0.4	ETCHX	Eventide Healthcare Life	Pair Corr
0.4	ETIHX	Eventide Healthcare Life	Pair Corr
0.37	ETAHX	Eventide Healthcare Life	Pair Corr
0.4	ETNHX	Eventide Healthcare Life	Pair Corr
0.34	VSEMX	Vanguard Extended Market	Pair Corr

Related Correlations Analysis

	AEMZX	AEMGX	ARCVX	MACGX	MPEGX	HFMDX	GTLLX	AROIX	AOOIX	ARWIX
AEMZX		1.0	0.71	-0.04	-0.04	0.4	0.85	0.75	0.75	0.0	AEMZX
AEMGX	1.0		0.71	-0.03	-0.03	0.4	0.85	0.75	0.74	0.0	AEMGX
ARCVX	0.71	0.71		-0.13	-0.12	0.71	0.82	0.99	0.99	0.0	ARCVX
MACGX	-0.04	-0.03	-0.13		1.0	0.39	0.13	-0.03	-0.05	0.0	MACGX
MPEGX	-0.04	-0.03	-0.12	1.0		0.4	0.13	-0.02	-0.04	0.0	MPEGX
HFMDX	0.4	0.4	0.71	0.39	0.4		0.66	0.76	0.75	0.0	HFMDX
GTLLX	0.85	0.85	0.82	0.13	0.13	0.66		0.87	0.87	0.0	GTLLX
AROIX	0.75	0.75	0.99	-0.03	-0.02	0.76	0.87		1.0	0.0	AROIX
AOOIX	0.75	0.74	0.99	-0.05	-0.04	0.75	0.87	1.0		0.0	AOOIX
ARWIX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ARWIX
	AEMZX	AEMGX	ARCVX	MACGX	MPEGX	HFMDX	GTLLX	AROIX	AOOIX	ARWIX

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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

AEMGX	+ 1.0	AEMZX
MPEGX	+ 1.0	MACGX
AOOIX	+ 1.0	AROIX
AROIX	+ 0.99	ARCVX
AOOIX	+ 0.99	ARCVX
AROIX	+ 0.87	GTLLX

High negative correlations

MACGX	- 0.13	ARCVX
MPEGX	- 0.12	ARCVX
AOOIX	- 0.05	MACGX
AOOIX	- 0.04	MPEGX
MPEGX	- 0.04	AEMZX
MACGX	- 0.04	AEMZX

Risk-Adjusted Indicators

There is a big difference between Eventide Mutual Fund performing well and Eventide Global 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 Global'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
AEMZX	0.68	0.00	(0.02)	0.06	0.86	(0.73)	1.28	(1.11)	4.76
AEMGX	0.68	0.00	(0.02)	0.06	0.87	(0.73)	1.28	(1.11)	4.76
ARCVX	0.27	(0.02)	(0.14)	0.02	0.31	(0.31)	0.59	(0.51)	1.47
MACGX	1.50	(0.23)	0.00	(0.06)	0.00	0.00	3.09	(3.49)	8.11
MPEGX	1.45	(0.22)	0.00	(0.07)	0.00	0.00	3.07	(3.49)	8.07
HFMDX	1.00	(0.10)	(0.04)	0.00	1.50	(0.90)	1.92	(2.44)	5.26
GTLLX	0.82	(0.02)	(0.01)	0.05	1.14	(0.80)	1.51	(1.73)	4.52
AROIX	0.36	(0.02)	(0.10)	0.03	0.48	(0.35)	0.82	(0.72)	1.95
AOOIX	0.36	(0.02)	(0.10)	0.03	0.48	(0.35)	0.82	(0.71)	2.00
ARWIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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