First Eagle Correlations

Mutual Funds . USA . 
Fund . First Eagle Gold
SGGDX Fund  USD 28.40  0.89  3.04%   
The current 90-days correlation between First Eagle Gold and Gabelli Gold Fund is 0.97 (i.e., Almost no 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

Average diversification

The correlation between First Eagle Gold and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Eagle Gold and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in First Eagle Gold. 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 unemployment.

Moving together with First Mutual Fund

  1.0FEGOX First Eagle GoldPairCorr
  1.0FEGIX First Eagle GoldPairCorr
  0.63FEREX First Eagle FundsPairCorr
  0.63FERAX First Eagle FundsPairCorr
  0.69FESGX First Eagle GlobalPairCorr
  0.61SGOVX First Eagle OverseasPairCorr
  0.96OPGSX Oppenheimer Gold SpecPairCorr
  0.96OGMCX Oppenheimer Gold SpecialPairCorr
  0.99FSAGX Gold Portfolio GoldPairCorr
  0.99FIJDX Gold Portfolio FidelityPairCorr

Moving against First Mutual Fund

  0.53EAURX First Eagle GoldPairCorr
  0.44FERUX First Eagle GoldPairCorr
  0.44FIURX First Eagle GoldPairCorr
  0.4FSMMX Fs Multi StrategyPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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