Eagle Growth Correlations

HRCVX Fund

USD 24.47 0.24 0.99%

The current 90-days correlation between Eagle Growth Income and Eagle Capital Appreciation is 0.74 (i.e., Poor diversification). The correlation of Eagle Growth 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 Growth Correlation With Market

Almost no diversification

The correlation between Eagle Growth Income and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Growth Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Eagle Growth Income. 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 real.

Moving together with Eagle Mutual Fund

0.82	CWFIX	Chartwell Short Duration	Pair Corr
0.73	CWFCX	Carillon Chartwell Short	Pair Corr
0.82	CWFRX	Carillon Chartwell Short	Pair Corr
1.0	HIGCX	Eagle Growth Income	Pair Corr
1.0	HIGJX	Eagle Growth Income	Pair Corr
1.0	HIGUX	Eagle Growth Income	Pair Corr
0.79	CWSIX	Chartwell Small Cap	Pair Corr
0.78	CWSHX	Carillon Chartwell Small	Pair Corr
0.79	CWSCX	Carillon Chartwell Small	Pair Corr
0.89	CWSAX	Carillon Chartwell Small	Pair Corr
0.89	CWSBX	Carillon Chartwell Small	Pair Corr
0.91	UMBMX	Scout Mid Cap	Pair Corr
0.84	UMBHX	Scout Small Cap	Pair Corr
0.82	BERCX	Berwyn Nerstone	Pair Corr
0.92	HRCCX	Eagle Capital Apprec	Pair Corr
0.92	HRCIX	Eagle Capital Apprec	Pair Corr
0.89	HRAUX	Eagle Mid Cap	Pair Corr
0.92	HRCPX	Eagle Capital Apprec	Pair Corr
0.92	HRCUX	Eagle Capital Apprec	Pair Corr
0.9	HRSCX	Eagle Small Cap	Pair Corr
0.89	HAGIX	Eagle Mid Cap	Pair Corr
0.89	HAGAX	Eagle Mid Cap	Pair Corr
0.89	HAGCX	Eagle Mid Cap	Pair Corr
0.9	HSCCX	Eagle Small Cap	Pair Corr
0.9	HSIIX	Eagle Small Cap	Pair Corr
0.9	HSRUX	Eagle Small Cap	Pair Corr
0.91	CSMEX	Carillon Scout Mid	Pair Corr
0.91	CSMFX	Carillon Scout Mid	Pair Corr
0.91	CSMUX	Carillon Scout Mid	Pair Corr
0.99	VVIAX	Vanguard Value Index	Pair Corr
0.93	DOXGX	Dodge Cox Stock	Pair Corr

Moving against Eagle Mutual Fund

0.63	SCPEX	Carillon Reams Core	Pair Corr
0.6	SCPZX	Scout E Plus	Pair Corr
0.59	SCCIX	Scout E Bond	Pair Corr
0.43	SUBDX	Carillon Reams Uncon	Pair Corr
0.39	SUBFX	Scout Unconstrained Bond	Pair Corr

Related Correlations Analysis

	HRCPX	HAGAX	HRSCX	SPQAX	FEVAX
HRCPX		0.97	0.95	-0.38	0.81	HRCPX
HAGAX	0.97		0.96	-0.46	0.74	HAGAX
HRSCX	0.95	0.96		-0.28	0.8	HRSCX
SPQAX	-0.38	-0.46	-0.28		0.16	SPQAX
FEVAX	0.81	0.74	0.8	0.16		FEVAX
	HRCPX	HAGAX	HRSCX	SPQAX	FEVAX

Click cells to compare fundamentals

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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

HAGAX	+ 0.97	HRCPX
HRSCX	+ 0.96	HAGAX
HRSCX	+ 0.95	HRCPX
FEVAX	+ 0.81	HRCPX
FEVAX	+ 0.8	HRSCX
FEVAX	+ 0.74	HAGAX

High negative correlations

SPQAX	- 0.46	HAGAX
SPQAX	- 0.38	HRCPX
SPQAX	- 0.28	HRSCX

Risk-Adjusted Indicators

There is a big difference between Eagle Mutual Fund performing well and Eagle Growth 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 Growth'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
HRCPX	0.76	0.02	0.01	0.14	1.06	(0.74)	2.01	(2.07)	5.11
HAGAX	0.80	0.08	0.10	0.19	0.76	(0.86)	1.72	(1.60)	5.55
HRSCX	0.86	(0.02)	0.02	0.11	0.97	(0.90)	2.05	(1.61)	6.40
SPQAX	0.47	(0.08)	(0.23)	(0.01)	0.53	(0.56)	0.90	(0.97)	2.53
FEVAX	0.42	0.00	(0.10)	0.12	0.47	(0.44)	0.91	(0.83)	2.52

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