First Eagle Correlations

FEVRX Fund

USD 25.14 0.02 0.08%

The current 90-days correlation between First Eagle Value and Fidelity Advisor Financial is 0.19 (i.e., Average 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 0.65 (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 various price indices.

Moving together with First Mutual Fund

0.77	IFAFX	Income Fund	Pair Corr
0.75	AMECX	Income Fund	Pair Corr
0.91	IFACX	Income Fund	Pair Corr
0.91	FFIFX	American Funds	Pair Corr
0.91	FAIFX	American Funds	Pair Corr
0.91	RIDBX	Income Fund	Pair Corr
0.91	CIMEX	Income Fund	Pair Corr
0.91	RIDFX	Income Fund	Pair Corr
0.91	CIMCX	Income Fund	Pair Corr
0.91	CIMFX	Income Fund	Pair Corr
0.63	RYCOX	Nasdaq 100 Fund	Pair Corr
0.79	TFEQX	International Equity	Pair Corr
0.68	FELAX	Fidelity Advisor Sem	Pair Corr
0.93	JEMDX	Jpmorgan Emerging Markets	Pair Corr
0.81	SFBPX	Great-west Securefoundation	Pair Corr
0.77	BCMPX	Blackrock Moderate	Pair Corr
0.87	TRRLX	T Rowe Price	Pair Corr
0.82	WMT	Walmart Common Stock	Pair Corr
0.73	BA	Boeing Earnings Call Tomorrow	Pair Corr
0.64	MRK	Merck Company	Pair Corr

Moving against First Mutual Fund

0.55	MSFT	Microsoft Earnings Call Tomorrow	Pair Corr
0.46	HPQ	HP Inc	Pair Corr
0.32	IBM	International Business Earnings Call This Week	Pair Corr

Related Correlations Analysis

	PFPNX	FNPIX	PSSRX	RMBLX	GCFSX	FIKBX
PFPNX		0.54	0.8	0.78	0.79	0.8	PFPNX
FNPIX	0.54		0.85	0.79	0.81	0.87	FNPIX
PSSRX	0.8	0.85		0.91	0.92	1.0	PSSRX
RMBLX	0.78	0.79	0.91		0.98	0.93	RMBLX
GCFSX	0.79	0.81	0.92	0.98		0.94	GCFSX
FIKBX	0.8	0.87	1.0	0.93	0.94		FIKBX
	PFPNX	FNPIX	PSSRX	RMBLX	GCFSX	FIKBX

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
PFPNX	0.09	0.01	(0.34)	0.16	0.00	(0.13)	0.21	(0.21)	0.72
FNPIX	1.00	(0.10)	(0.05)	0.00	1.45	(0.93)	1.85	(2.56)	6.55
PSSRX	0.88	0.14	0.14	0.19	0.72	(1.00)	1.90	(1.75)	12.65
RMBLX	1.01	0.25	0.21	0.34	0.77	(1.21)	3.09	(1.19)	6.79
GCFSX	0.49	0.11	0.12	0.22	0.48	(0.58)	1.15	(1.04)	3.27
FIKBX	0.74	0.09	0.10	0.16	0.72	(0.81)	1.70	(1.63)	8.31

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