Eagle Growth Correlations

HRCVX Fund

USD 20.06 0.06 0.30%

The current 90-days correlation between Eagle Growth Income and Eagle Capital Appreciation is 0.87 (i.e., Very 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

Very weak diversification

The correlation between Eagle Growth Income and DJI is 0.45 (i.e., Very weak 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

1.0	HIGCX	Eagle Growth Income	Pair Corr
1.0	HIGUX	Eagle Growth Income	Pair Corr
0.96	CWSIX	Chartwell Small Cap	Pair Corr
0.66	CWSGX	Chartwell Small Cap	Pair Corr
0.96	CWSHX	Carillon Chartwell Small	Pair Corr
0.96	CWSCX	Carillon Chartwell Small	Pair Corr
0.66	CWSAX	Carillon Chartwell Small	Pair Corr
0.66	CWSBX	Carillon Chartwell Small	Pair Corr
0.96	CWSWX	Carillon Chartwell Small	Pair Corr
0.66	CWSRX	Columbia Large Cap	Pair Corr
0.98	UMBMX	Scout Mid Cap	Pair Corr
0.83	UMBHX	Scout Small Cap	Pair Corr
0.99	BERDX	Carillon Chartwell Mid	Pair Corr
0.99	BERBX	Carillon Chartwell Mid	Pair Corr
0.99	BERCX	Berwyn Cornerstone	Pair Corr
0.99	BERAX	Carillon Chartwell Mid	Pair Corr
0.93	HRCCX	Eagle Capital Apprec	Pair Corr
0.93	HRCIX	Eagle Capital Apprec	Pair Corr
0.85	HRAUX	Eagle Mid Cap	Pair Corr
0.93	HRCPX	Eagle Capital Apprec	Pair Corr
0.93	HRCUX	Eagle Capital Apprec	Pair Corr

Moving against Eagle Mutual Fund

0.54	CWFRX	Carillon Chartwell Short	Pair Corr
0.52	CWFAX	Chartwell Short Duration	Pair Corr
0.51	CWFIX	Chartwell Short Duration	Pair Corr
0.49	BERIX	Berwyn Income	Pair Corr
0.48	BERSX	Carillon Chartwell Real	Pair Corr
0.48	BERGX	Carillon Chartwell Real	Pair Corr
0.47	CWFCX	Carillon Chartwell Short	Pair Corr
0.46	BERHX	Carillon Chartwell Real	Pair Corr
0.38	SUBTX	Carillon Reams Uncon	Pair Corr
0.38	SUBFX	Scout Unconstrained Bond	Pair Corr
0.36	SUBDX	Carillon Reams Uncon	Pair Corr
0.34	SUBEX	Carillon Reams Uncon	Pair Corr
0.31	SCPZX	Scout E Plus	Pair Corr

Related Correlations Analysis

	HRCPX	HAGAX	HRSCX	SPQAX	FEVAX
HRCPX		0.96	0.97	-0.33	-0.15	HRCPX
HAGAX	0.96		0.93	-0.28	0.01	HAGAX
HRSCX	0.97	0.93		-0.35	-0.23	HRSCX
SPQAX	-0.33	-0.28	-0.35		0.82	SPQAX
FEVAX	-0.15	0.01	-0.23	0.82		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

HRSCX	+ 0.97	HRCPX
HAGAX	+ 0.96	HRCPX
HRSCX	+ 0.93	HAGAX
FEVAX	+ 0.82	SPQAX
FEVAX	+ 0.01	HAGAX

High negative correlations

SPQAX	- 0.35	HRSCX
SPQAX	- 0.33	HRCPX
SPQAX	- 0.28	HAGAX
FEVAX	- 0.23	HRSCX
FEVAX	- 0.15	HRCPX

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	1.31	(0.24)	0.00	(0.26)	0.00	0.00	1.66	(3.15)	13.46
HAGAX	1.45	(0.26)	0.00	(0.26)	0.00	0.00	1.93	(4.05)	13.63
HRSCX	1.37	(0.37)	0.00	(0.34)	0.00	0.00	1.78	(3.09)	19.79
SPQAX	0.62	0.03	0.07	(0.01)	0.92	(0.69)	1.14	(1.13)	3.37
FEVAX	0.52	0.03	0.08	(0.01)	0.68	(0.56)	1.06	(0.94)	2.62

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