Eagle Small Correlations

HSIIX Fund

USD 27.46 0.29 1.07%

The current 90-days correlation between Eagle Small Cap and Tweedy Browne Global is 0.4 (i.e., Very weak diversification). The correlation of Eagle Small 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 Small Correlation With Market

Almost no diversification

The correlation between Eagle Small Cap and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Small Cap 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 Small Cap. 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

0.87	CWFIX	Chartwell Short Duration	Pair Corr
0.87	CWFCX	Carillon Chartwell Short	Pair Corr
0.87	CWFAX	Chartwell Short Duration	Pair Corr
0.87	CWFRX	Carillon Chartwell Short	Pair Corr
0.8	HIGCX	Eagle Growth Income	Pair Corr
0.8	HIGJX	Eagle Growth Income	Pair Corr
0.8	HIGUX	Eagle Growth Income	Pair Corr
0.84	CWSIX	Chartwell Small Cap	Pair Corr
0.98	CWSGX	Chartwell Small Cap	Pair Corr
0.83	CWSHX	Carillon Chartwell Small	Pair Corr
0.83	CWSCX	Carillon Chartwell Small	Pair Corr
0.98	CWSAX	Carillon Chartwell Small	Pair Corr
0.98	CWSBX	Carillon Chartwell Small	Pair Corr
0.83	CWSWX	Carillon Chartwell Small	Pair Corr
0.93	CWSRX	Columbia Large Cap	Pair Corr
0.76	SUBTX	Carillon Reams Uncon	Pair Corr
0.76	SUBDX	Carillon Reams Uncon	Pair Corr
0.76	SUBFX	Scout Unconstrained Bond	Pair Corr
0.75	SUBEX	Carillon Reams Uncon	Pair Corr
0.62	SCPDX	Carillon Reams Core	Pair Corr
0.97	UMBMX	Scout Mid Cap	Pair Corr
0.98	UMBHX	Scout Small Cap	Pair Corr
0.82	BERSX	Carillon Chartwell Real	Pair Corr
0.87	BERIX	Berwyn Income	Pair Corr
0.87	BERGX	Carillon Chartwell Real	Pair Corr
0.82	BERHX	Carillon Chartwell Real	Pair Corr
0.86	BERDX	Carillon Chartwell Mid	Pair Corr
0.86	BERCX	Berwyn Cornerstone	Pair Corr
0.85	BERAX	Carillon Chartwell Mid	Pair Corr
0.77	HRCCX	Eagle Capital Apprec	Pair Corr
0.7	HRAUX	Eagle Mid Cap	Pair Corr
0.7	HRCPX	Eagle Capital Apprec	Pair Corr
0.93	HRSCX	Eagle Small Cap	Pair Corr

Moving against Eagle Mutual Fund

0.66	HRCVX	Eagle Growth Income	Pair Corr
0.66	CSSAX	Carillon Scout Small	Pair Corr
0.65	CSSVX	Carillon Scout Small	Pair Corr
0.65	CSSJX	Carillon Scout Small	Pair Corr

Related Correlations Analysis

	BBSXX	EMDQX	PCEXX	PAELX	PLMPX	TBCUX
BBSXX		0.0	0.0	0.0	0.0	0.0	BBSXX
EMDQX	0.0		0.0	0.97	0.97	0.89	EMDQX
PCEXX	0.0	0.0		0.0	0.0	0.0	PCEXX
PAELX	0.0	0.97	0.0		0.99	0.93	PAELX
PLMPX	0.0	0.97	0.0	0.99		0.94	PLMPX
TBCUX	0.0	0.89	0.0	0.93	0.94		TBCUX
	BBSXX	EMDQX	PCEXX	PAELX	PLMPX	TBCUX

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

PLMPX	+ 0.99	PAELX
PAELX	+ 0.97	EMDQX
PLMPX	+ 0.97	EMDQX
TBCUX	+ 0.94	PLMPX
TBCUX	+ 0.93	PAELX
TBCUX	+ 0.89	EMDQX

High negative correlations

TBCUX	- 0.0	PCEXX
PLMPX	- 0.0	PCEXX
PAELX	- 0.0	PCEXX
PCEXX	- 0.0	EMDQX
TBCUX	- 0.0	BBSXX
PLMPX	- 0.0	BBSXX

Risk-Adjusted Indicators

There is a big difference between Eagle Mutual Fund performing well and Eagle Small 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 Small'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
BBSXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EMDQX	0.23	0.05	(0.10)	(1.91)	0.07	(0.30)	0.41	(0.40)	1.78
PCEXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PAELX	0.24	0.07	(0.03)	0.68	0.00	(0.34)	0.58	(0.40)	1.75
PLMPX	0.19	0.08	(0.01)	1.09	0.00	(0.27)	0.52	(0.27)	1.16
TBCUX	0.62	0.24	0.36	0.42	0.00	(0.80)	1.41	(0.80)	8.54

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