First Eagle Correlations

FEHIX Fund

USD 8.07 0.01 0.12%

The current 90-days correlation between First Eagle High and Ultra Short Fixed Income is 0.21 (i.e., Modest 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 High and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Eagle High 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 High. 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 employment.

Moving together with First Mutual Fund

0.98	FEHCX	First Eagle High	Pair Corr
0.86	NHMRX	Nuveen High Yield	Pair Corr
0.89	NHMFX	Nuveen High Yield	Pair Corr
0.8	GHYCX	Goldman Sachs High	Pair Corr
0.67	GHYAX	Goldman Sachs High	Pair Corr
0.85	NHMAX	Nuveen High Yield	Pair Corr
0.89	NHCCX	Nuveen High Yield	Pair Corr
0.63	ACTDX	Invesco High Yield	Pair Corr

Moving against First Mutual Fund

0.39	DLHIX	Delaware Healthcare	Pair Corr
0.34	SFSLX	1919 Financial Services	Pair Corr

Related Correlations Analysis

	FDBAX	JAFLX	BBINX	MBSAX	TFBIX	JYHRX	SWSFX
FDBAX		0.89	0.58	0.69	0.57	0.69	0.67	FDBAX
JAFLX	0.89		0.73	0.76	0.71	0.73	0.76	JAFLX
BBINX	0.58	0.73		0.81	0.96	0.86	0.73	BBINX
MBSAX	0.69	0.76	0.81		0.75	0.92	0.89	MBSAX
TFBIX	0.57	0.71	0.96	0.75		0.78	0.65	TFBIX
JYHRX	0.69	0.73	0.86	0.92	0.78		0.91	JYHRX
SWSFX	0.67	0.76	0.73	0.89	0.65	0.91		SWSFX
	FDBAX	JAFLX	BBINX	MBSAX	TFBIX	JYHRX	SWSFX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FDBAX	0.13	(0.02)	0.00	(0.16)	0.00	0.00	0.24	(0.35)	0.71
JAFLX	0.12	(0.01)	(0.20)	(0.12)	0.15	(0.14)	0.20	(0.30)	0.61
BBINX	0.06	0.01	(0.18)	0.51	0.00	(0.14)	0.19	(0.10)	0.48
MBSAX	0.21	0.02	(0.05)	0.15	0.14	(0.26)	0.37	(0.44)	2.24
TFBIX	0.07	0.00	(0.17)	0.15	0.00	(0.14)	0.20	(0.10)	0.69
JYHRX	0.08	0.00	(0.11)	0.10	0.00	(0.15)	0.15	(0.15)	0.76
SWSFX	0.04	0.00	(0.33)	0.12	0.00	(0.15)	0.10	(0.10)	0.49

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