First Eagle Correlations

FEHAX Fund

USD 8.05 0.01 0.12%

The current 90-days correlation between First Eagle High and California Bond Fund is 0.15 (i.e., Average diversification). The correlation of First Eagle 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.

First Eagle Correlation With Market

Good diversification

The correlation between First Eagle High and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Eagle High 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 First Eagle High. 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 nation.

Moving together with First Mutual Fund

0.98	FEHRX	First Eagle High	Pair Corr
0.98	FEHIX	First Eagle High	Pair Corr
0.98	FEHCX	First Eagle High	Pair Corr
0.78	NHMRX	Nuveen High Yield	Pair Corr
0.88	NHMFX	Nuveen High Yield	Pair Corr

Moving against First Mutual Fund

0.38	FEAMX	First Eagle Fund	Pair Corr
0.31	FEAIX	First Eagle Fund	Pair Corr
0.31	FEFRX	First Eagle Fund	Pair Corr
0.38	FEVCX	First Eagle Value	Pair Corr
0.37	FEVAX	First Eagle Value	Pair Corr
0.36	FEVRX	First Eagle Value	Pair Corr

Related Correlations Analysis

	TTRBX	RULFX	GHVIX	BXHCX	PATFX	FLQTVX	USCBX
TTRBX		0.88	0.92	0.89	0.67	0.11	0.5	TTRBX
RULFX	0.88		0.92	0.93	0.67	0.13	0.55	RULFX
GHVIX	0.92	0.92		0.96	0.61	0.09	0.46	GHVIX
BXHCX	0.89	0.93	0.96		0.69	0.11	0.55	BXHCX
PATFX	0.67	0.67	0.61	0.69		0.15	0.91	PATFX
FLQTVX	0.11	0.13	0.09	0.11	0.15		0.15	FLQTVX
USCBX	0.5	0.55	0.46	0.55	0.91	0.15		USCBX
	TTRBX	RULFX	GHVIX	BXHCX	PATFX	FLQTVX	USCBX

Risk-Adjusted Indicators

There is a big difference between First Mutual Fund performing well and First Eagle 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 First Eagle'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
TTRBX	0.10	0.00	(0.62)	0.04	0.00	(0.14)	0.20	(0.20)	0.60
RULFX	0.04	0.00	0.00	0.47	0.00	0.00	0.10	(0.10)	0.60
GHVIX	0.11	0.02	(0.44)	0.42	0.00	(0.14)	0.29	(0.23)	0.70
BXHCX	0.12	0.02	(0.41)	1.33	0.00	(0.20)	0.25	(0.25)	0.86
PATFX	0.09	0.00	(0.52)	0.10	0.02	(0.14)	0.27	(0.18)	0.90
FLQTVX	0.38	0.02	(0.05)	(0.12)	1.47	(0.41)	0.18	(0.17)	19.26
USCBX	0.10	0.00	(0.55)	0.06	0.00	(0.15)	0.29	(0.20)	0.68

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