First Eagle Correlations

Mutual Funds . USA . 
Fund . First Eagle Small
FESAX Fund  USD 10.88  0.08  0.73%   
The current 90-days correlation between First Eagle Small and Ashmore Emerging Markets is -0.04 (i.e., Good 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

Very poor diversification

The correlation between First Eagle Small and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Eagle Small 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 Small. 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

  0.98FEMAX First Eagle SmidPairCorr
  1.0FESCX First Eagle SmallPairCorr
  0.99FESRX First Eagle SmallPairCorr
  0.97FESMX First Eagle SmidPairCorr
  0.65FEVRX First Eagle ValuePairCorr
  0.97FEXRX First Eagle SmidPairCorr
  0.99VSIIX Vanguard Small CapPairCorr
  0.99VISVX Vanguard Small CapPairCorr
  0.99DFSVX Us Small CapPairCorr

Moving against First Mutual Fund

  0.65FEGOX First Eagle GoldPairCorr
  0.64FEGIX First Eagle GoldPairCorr
  0.64SGGDX First Eagle GoldPairCorr
  0.59FEORX First Eagle OverseasPairCorr
  0.57FEBCX First Eagle GlobalPairCorr
  0.55FEBIX First Eagle GlobalPairCorr
  0.55FEBAX First Eagle GlobalPairCorr
  0.47FEBRX First Eagle GlobalPairCorr
  0.39FESGX First Eagle GlobalPairCorr
  0.38SGENX First Eagle GlobalPairCorr
  0.37SGIIX First Eagle GlobalPairCorr
  0.64FESOX First Eagle OverseasPairCorr
  0.64FEURX First Eagle GoldPairCorr
  0.62SGOIX First Eagle OverseasPairCorr
  0.6SGOVX First Eagle OverseasPairCorr

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   
TEOJX
+ 0.97
SMQFX
TRMIX
+ 0.69
USMIX
BXECX
+ 0.66
TEOJX
TEOJX
+ 0.6
EMCIX
BXECX
+ 0.57
SMQFX
SMQFX
+ 0.55
EMCIX
  
High negative correlations   
BXECX
- 0.53
USMIX
TEOJX
- 0.39
USMIX
BXECX
- 0.36
TRMIX
USMIX
- 0.28
SMQFX
TRMIX
- 0.26
TEOJX
TRMIX
- 0.19
SMQFX

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.

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