Correlation Between Tiaa-cref Funds and First Eagle

Can any of the company-specific risk be diversified away by investing in both Tiaa-cref Funds 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 Tiaa-cref Funds and First Eagle into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Tiaa Cref Funds and First Eagle Funds, you can compare the effects of market volatilities on Tiaa-cref Funds 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 Tiaa-cref Funds with a short position of First Eagle. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tiaa-cref Funds and First Eagle.

Diversification Opportunities for Tiaa-cref Funds and First Eagle

0.0

Correlation Coefficient

Tiaa-cref Funds  First Eagle

Pay attention - limited upside

The 3 months correlation between Tiaa-cref and First is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Tiaa Cref Funds and First Eagle Funds in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First Eagle Funds and Tiaa-cref Funds 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 Tiaa Cref Funds 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 Funds has no effect on the direction of Tiaa-cref Funds i.e., Tiaa-cref Funds and First Eagle go up and down completely randomly.

Pair Corralation between Tiaa-cref Funds and First Eagle

If you would invest  1,203  in First Eagle Funds on July 23, 2025 and sell it today you would earn a total of  76.00  from holding First Eagle Funds or generate 6.32% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Tiaa Cref Funds   vs.  First Eagle Funds

Tiaa Cref Funds

Risk-Adjusted Performance

Weakest

Over the last 90 days Tiaa Cref Funds has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, Tiaa-cref Funds is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

First Eagle Funds

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in First Eagle Funds are ranked lower than 11 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong basic indicators, First Eagle is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Tiaa-cref Funds and First Eagle

The main advantage of trading using opposite Tiaa-cref Funds and First Eagle positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tiaa-cref Funds 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.

The idea behind Tiaa Cref Funds and First Eagle Funds pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.