First Eagle Correlations

SGOVX Fund

USD 26.66 0.19 0.71%

The current 90-days correlation between First Eagle Overseas and First Eagle Global is 0.93 (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

Very weak diversification

The correlation between First Eagle Overseas and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Eagle Overseas 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 Overseas. 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 First Mutual Fund

0.99	FEBCX	First Eagle Global	Pair Corr
0.99	FEBRX	First Eagle Global	Pair Corr
0.95	FEGOX	First Eagle Gold	Pair Corr
0.93	SGENX	First Eagle Global	Pair Corr
0.95	SGGDX	First Eagle Gold	Pair Corr
0.93	SGIIX	First Eagle Global	Pair Corr
0.92	FESGX	First Eagle Global	Pair Corr
0.85	FERRX	First Eagle Funds	Pair Corr
1.0	SGOIX	First Eagle Overseas	Pair Corr
0.98	VGTSX	Vanguard Total Inter	Pair Corr
0.98	VTIAX	Vanguard Total Inter	Pair Corr
0.98	VTSNX	Vanguard Total Inter	Pair Corr
0.98	VTPSX	Vanguard Total Inter	Pair Corr
0.98	VTISX	Vanguard Total Inter	Pair Corr
0.98	VTMGX	Vanguard Developed	Pair Corr
0.98	VDVIX	Vanguard Developed	Pair Corr
0.98	VTMNX	Vanguard Developed	Pair Corr
0.98	VDIPX	Vanguard Developed	Pair Corr
0.99	FSPSX	Fidelity International	Pair Corr
0.83	GAAKX	Gmo Alternative Allo	Pair Corr
0.82	GAAGX	Gmo Alternative Allo	Pair Corr
0.94	GPBFX	Gmo E Plus	Pair Corr
0.84	WARCX	Wells Fargo Advantage	Pair Corr
0.97	ARBOX	Absolute Convertible	Pair Corr
0.87	USGDX	Morgan Stanley Government	Pair Corr
0.9	HRBDX	Harbor Bond Fund	Pair Corr
0.88	HTD	John Hancock Tax	Pair Corr
0.99	BISMX	Brandes International	Pair Corr
0.73	EBSIX	Campbell Systematic Macro	Pair Corr
0.83	DLDFX	Destinations Low Duration	Pair Corr

Moving against First Mutual Fund

0.64	FESCX	First Eagle Small	Pair Corr
0.91	PQTAX	Pimco Trends Managed	Pair Corr
0.91	PQTNX	Pimco Trends Managed	Pair Corr
0.91	PQTIX	Aa Pimco Tr	Pair Corr
0.79	GPMFX	Guidepath Managed Futures	Pair Corr

Related Correlations Analysis

	SGENX	CVGRX	FEVAX	SGGDX	OIBAX
SGENX		-0.42	0.82	0.93	0.91	SGENX
CVGRX	-0.42		0.07	-0.62	-0.62	CVGRX
FEVAX	0.82	0.07		0.62	0.61	FEVAX
SGGDX	0.93	-0.62	0.62		0.95	SGGDX
OIBAX	0.91	-0.62	0.61	0.95		OIBAX
	SGENX	CVGRX	FEVAX	SGGDX	OIBAX

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

OIBAX	+ 0.95	SGGDX
SGGDX	+ 0.93	SGENX
OIBAX	+ 0.91	SGENX
FEVAX	+ 0.82	SGENX
SGGDX	+ 0.62	FEVAX
OIBAX	+ 0.61	FEVAX

High negative correlations

OIBAX	- 0.62	CVGRX
SGGDX	- 0.62	CVGRX
CVGRX	- 0.42	SGENX

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
SGENX	0.48	0.08	0.17	0.10	0.61	(0.50)	1.16	(0.90)	2.92
CVGRX	1.21	(0.20)	0.00	(0.29)	0.00	0.00	1.75	(3.41)	6.43
FEVAX	0.52	0.03	0.08	(0.01)	0.68	(0.56)	1.06	(0.94)	2.62
SGGDX	1.12	0.32	0.23	0.71	1.21	(1.20)	2.26	(2.26)	6.27
OIBAX	0.32	0.04	0.23	0.32	0.24	(0.48)	0.70	(0.47)	1.85

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