Correlation Between Rbc Bluebay and First Eagle
Can any of the company-specific risk be diversified away by investing in both Rbc Bluebay and First Eagle at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Rbc Bluebay and First Eagle into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Rbc Bluebay Global and First Eagle Fund, you can compare the effects of market volatilities on Rbc Bluebay and First Eagle and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Rbc Bluebay with a short position of First Eagle. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rbc Bluebay and First Eagle.
Diversification Opportunities for Rbc Bluebay and First Eagle
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Rbc and First is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Rbc Bluebay Global and First Eagle Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First Eagle Fund and Rbc Bluebay is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Rbc Bluebay Global are associated (or correlated) with First Eagle. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of First Eagle Fund has no effect on the direction of Rbc Bluebay i.e., Rbc Bluebay and First Eagle go up and down completely randomly.
Pair Corralation between Rbc Bluebay and First Eagle
Assuming the 90 days horizon Rbc Bluebay Global is expected to generate 0.25 times more return on investment than First Eagle. However, Rbc Bluebay Global is 4.08 times less risky than First Eagle. It trades about -0.03 of its potential returns per unit of risk. First Eagle Fund is currently generating about -0.21 per unit of risk. If you would invest 996.00 in Rbc Bluebay Global on August 21, 2025 and sell it today you would lose (1.00) from holding Rbc Bluebay Global or give up 0.1% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Rbc Bluebay Global vs. First Eagle Fund
Performance |
| Timeline |
| Rbc Bluebay Global |
| First Eagle Fund |
Rbc Bluebay and First Eagle Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Rbc Bluebay and First Eagle
The main advantage of trading using opposite Rbc Bluebay and First Eagle positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rbc Bluebay position performs unexpectedly, First Eagle can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in First Eagle will offset losses from the drop in First Eagle's long position.| Rbc Bluebay vs. 1919 Socially Responsive | Rbc Bluebay vs. Federated High Yield | Rbc Bluebay vs. Ultra Nasdaq 100 Profunds | Rbc Bluebay vs. Columbia Small Cap |
| First Eagle vs. First Eagle Global | First Eagle vs. First Eagle Global | First Eagle vs. First Eagle Global | First Eagle vs. First Eagle Fund |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Transaction History View history of all your transactions and understand their impact on performance | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity |