First Eagle Correlations

SGOIX Fund  USD 25.18  0.15  0.59%   
The current 90-days correlation between First Eagle Overseas and First Eagle Global 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

Significant diversification

The correlation between First Eagle Overseas and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Eagle Overseas and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in First Eagle Overseas. 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

  0.74FEBIX First Eagle GlobalPairCorr
  0.75FEBCX First Eagle GlobalPairCorr
  0.74FEBAX First Eagle GlobalPairCorr
  0.85FEBRX First Eagle GlobalPairCorr
  0.78FEGRX First Eagle GlobalPairCorr
  0.63FEGIX First Eagle GoldPairCorr
  0.68FEORX First Eagle OverseasPairCorr
  0.72FERRX First Eagle FundsPairCorr
  0.93FESOX First Eagle OverseasPairCorr
  0.68SGOVX First Eagle OverseasPairCorr
  0.91VGTSX Vanguard Total InterPairCorr
  0.91VTIAX Vanguard Total InterPairCorr
  0.91VTSNX Vanguard Total InterPairCorr

Moving against First Mutual Fund

  0.62FEMAX First Eagle SmidPairCorr
  0.62FESCX First Eagle SmallPairCorr
  0.62FESAX First Eagle SmallPairCorr
  0.63FEXRX First Eagle SmidPairCorr
  0.62FESRX First Eagle SmallPairCorr
  0.62FESMX First Eagle SmidPairCorr
  0.62XGEIX Guggenheim Energy IncomePairCorr

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   
FEVAXSGENX
SGGDXSGENX
SGGDXFEVAX
OIBAXSGENX
OIBAXSGGDX
  
High negative correlations   
CVGRXSGENX
SGGDXCVGRX
OIBAXCVGRX
FEVAXCVGRX
OIBAXFEVAX

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.