First Eagle Correlations

SGGDX Fund

USD 32.54 0.38 1.15%

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

Good diversification

The correlation between First Eagle Gold and DJI is -0.08 (i.e., Good 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

1.0	FEGIX	First Eagle Gold	Pair Corr
0.72	FEGOX	First Eagle Gold	Pair Corr
0.98	OPGSX	Oppenheimer Gold Spec	Pair Corr
0.71	OGMCX	Oppenheimer Gold Special	Pair Corr
1.0	FSAGX	Gold Portfolio Gold	Pair Corr
1.0	FIJDX	Gold Portfolio Fidelity	Pair Corr
0.68	GAAGX	Gmo Alternative Allo	Pair Corr
0.71	GPBFX	Gmo E Plus	Pair Corr
0.81	WARCX	Wells Fargo Advantage	Pair Corr
0.64	KO	Coca Cola	Pair Corr
0.64	JNJ	Johnson Johnson	Pair Corr
0.67	VZ	Verizon Communications	Pair Corr
0.66	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Moving against First Mutual Fund

0.86	PQTAX	Pimco Trends Managed	Pair Corr
0.86	PQTNX	Pimco Trends Managed	Pair Corr
0.86	PQTIX	Aa Pimco Tr	Pair Corr
0.57	GPMFX	Guidepath Managed Futures	Pair Corr
0.49	MSFT	Microsoft	Pair Corr
0.48	AXP	American Express	Pair Corr
0.47	CAT	Caterpillar	Pair Corr
0.47	DIS	Walt Disney	Pair Corr
0.43	MRK	Merck Company	Pair Corr
0.37	BAC	Bank of America	Pair Corr
0.35	HD	Home Depot	Pair Corr

Related Correlations Analysis

	GOLDX	INIVX	USERX	EKWAX	FKRCX
GOLDX		1.0	0.71	1.0	1.0	GOLDX
INIVX	1.0		0.71	1.0	1.0	INIVX
USERX	0.71	0.71		0.72	0.7	USERX
EKWAX	1.0	1.0	0.72		0.99	EKWAX
FKRCX	1.0	1.0	0.7	0.99		FKRCX
	GOLDX	INIVX	USERX	EKWAX	FKRCX

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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
GOLDX	1.07	0.40	0.34	(4.38)	0.81	(1.20)	2.84	(2.20)	6.41
INIVX	1.23	0.42	0.32	(2.17)	1.04	(1.41)	3.27	(2.51)	7.33
USERX	1.25	0.31	0.21	0.69	1.33	(1.43)	3.06	(2.98)	7.07
EKWAX	1.25	0.40	0.31	(2.29)	1.20	(1.47)	3.35	(2.66)	7.40
FKRCX	1.20	0.51	0.39	(7.27)	0.85	(1.42)	3.34	(2.04)	6.99

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