Projected Return Density against MarketAssuming 30 trading days horizon, EATON VANCE MICHIGAN MUNICIPAL has beta of -0.14 . This means as returns on benchmark increase, returns on holding EATON are expected to decrease at a much smaller rate. During bear market, however, EATON VANCE MICHIGAN MUNICIPAL is likely to outperform the market. Additionally, EATON VANCE MICHIGAN MUNICIPAL has negative alpha implying that risk taken by holding this securing is not justified. The company is significantly underperforming S&P 500 Assuming 30 trading days horizon, the coefficient of variation of EATON is 153420.3. The daily returns are destributed with a variance of 0.02 and standard deviation of 0.15. The mean deviation of EATON VANCE MICHIGAN MUNICIPAL is currently at 0.1. For similar time horizon, the selected benchmark (S&P 500) has volatility of 0.55
Actual Return VolatilityEATON VANCE MICHIGAN MUNICIPAL shows 0.15% volatility of returns over 30 trading days. S&P 500 shows 0.55% volatility of returns over 30 trading days.
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S&P 500 has a standard deviation of returns of 0.55 and is 3.67 times more volatile than EATON VANCE MICHIGAN MUNICIPAL. 1% of all equities and portfolios are less risky than EATON. Compared with the overall equity markets, volatility of historical daily returns of EATON VANCE MICHIGAN MUNICIPAL is lower than 1 (%) of all global equities and portfolios over the last 30 days. Use EATON VANCE MICHIGAN MUNICIPAL to protect against small markets fluctuations. The fund experiences stable pattern. Watch out for signals. As returns on market increase, returns on owning EATON are expected to decrease at a much smaller rate. During bear market, EATON is likely to outperform the market.
EATON correlation with market
EATON Current Risk Indicators
Suggested Divercification Pairs