First Eagle Correlations

Mutual Funds . USA . 
Fund . First Eagle Value
FEVIX Fund  USD 23.24  0.09  0.39%   
The current 90-days correlation between First Eagle Value and Intermediate Term Tax Free Bond is 0.09 (i.e., Significant 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

Poor diversification

The correlation between First Eagle Value and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Eagle Value 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 Value. 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 gross domestic product.

Moving together with First Mutual Fund

  0.98FEAMX First Eagle FundPairCorr
  0.63FEGIX First Eagle GoldPairCorr
  0.98SGENX First Eagle GlobalPairCorr
  0.63SGGDX First Eagle GoldPairCorr
  0.99SGIIX First Eagle GlobalPairCorr
  0.86FESGX First Eagle GlobalPairCorr
  0.88FESRX First Eagle SmallPairCorr
  0.93FESOX First Eagle OverseasPairCorr
  0.9FEVCX First Eagle ValuePairCorr
  1.0FEVAX First Eagle ValuePairCorr
  0.84SGOVX First Eagle OverseasPairCorr
  0.87FFIFX American FundsPairCorr
  0.98FAIFX American FundsPairCorr
  0.87IFACX Income FundPairCorr
  0.98IFAFX Income FundPairCorr
  0.86AMECX Income FundPairCorr
  0.98RIDBX Income FundPairCorr
  0.98CIMEX Income FundPairCorr
  0.98RIDFX Income FundPairCorr
  0.98CIMCX Income FundPairCorr
  0.87CIMFX Income FundPairCorr
  0.85HLDIX Hartford EmergingPairCorr
  0.84HLDRX Hartford EmergingPairCorr
  0.94HLDAX Hartford EmergingPairCorr
  0.84HLDCX Hartford EmergingPairCorr
  0.84HLDTX Hartford EmergingPairCorr
  0.8LMLCX Western Asset SmashPairCorr
  0.76BRIIX Baron Real EstatePairCorr
  0.94RLNAX International DevelopedPairCorr
  0.94NMCIX Voya Midcap OpportunitiesPairCorr
  0.78BGX Blackstone Gso LongPairCorr
  0.86AGYWX Growth Fund YPairCorr

Moving against First Mutual Fund

  0.45FEHIX First Eagle HighPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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