Eagle Mlp Correlations

Mutual Funds . USA . 
Fund . Eagle Mlp Strategy
EGLIX Fund  USD 11.14  0.07  0.63%   
The current 90-days correlation between Eagle Mlp Strategy and Absolute Convertible Arbitrage is 0.09 (i.e., Significant diversification). The correlation of Eagle Mlp 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.

Eagle Mlp Correlation With Market

Modest diversification

The correlation between Eagle Mlp Strategy and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Mlp Strategy 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 Eagle Mlp Strategy. 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 Eagle Mutual Fund

  1.0EGLNX Eagle Mlp StrategyPairCorr
  1.0EGLCX Eagle Mlp StrategyPairCorr
  1.0EGLAX Eagle Mlp StrategyPairCorr
  0.99TORCX Tortoise Mlp PipelinePairCorr
  0.99MLPTX Oppenheimer Steelpath MlpPairCorr
  0.99OSPSX Oppenheimer Steelpath MlpPairCorr
  0.96MLPZX Oppenheimer Steelpath MlpPairCorr
  0.96OSPMX Oppenheimer Steelpath MlpPairCorr
  0.96MLPDX Oppenheimer Steelpath MlpPairCorr
  0.91MLPRX Oppenheimer Steelpath MlpPairCorr
  0.98GMLPX Goldman Sachs MlpPairCorr
  0.98GLPIX Goldman Sachs MlpPairCorr
  0.98GLPRX Goldman Sachs MlpPairCorr
  0.77ABRWX Americafirst TacticalPairCorr
  0.71PHIKX Columbia ConvertiblePairCorr
  0.69OASGX Optimum Small MidPairCorr
  0.66VSEMX Vanguard Extended MarketPairCorr
  0.71CWFCX Carillon Chartwell ShortPairCorr
  0.72PHYZX Prudential High YieldPairCorr
  0.69VFINX Vanguard 500 IndexPairCorr
  0.74CSQIX Credit Suisse MultiaPairCorr
  0.65HGOYX Hartford GrowthPairCorr
  0.88CLM Cornerstone StrategicPairCorr
  0.64STBYX Invesco Short TermPairCorr

Moving against Eagle Mutual Fund

  0.75PFHCX Pacific Funds SmallPairCorr
  0.44NHS Neuberger Berman HighPairCorr

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   
NCIDX
+ 0.98
XNCZX
GCV
+ 0.89
XNCZX
GCV
+ 0.89
NCIDX
XNCZX
+ 0.26
ARBOX
NCIDX
+ 0.23
ARBOX
GCV
+ 0.14
ARBOX
  
High negative correlations   
CCD
- 0.57
ARBOX
CCD
- 0.07
XNCZX
NCIDX
- 0.03
CCD

Risk-Adjusted Indicators

There is a big difference between Eagle Mutual Fund performing well and Eagle Mlp 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 Eagle Mlp'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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