The Blues welcome Brendan Rodgers's team to Goodison Park on Sunday looking for a first win over their bitter rivals since 2010.
"We've had a good start," Jagielka told Sky Sports News. "We have had a better start than Liverpool have, it's obvious when you look at the league.
"If you compare squads, you compare how much we've spent with how much they've spent, I don't think there that's much of a favourite.
"As far as form, obviously we are going into the game with more points so that's a simple answer to the question. But I've seen enough derbies to see that the formbook goes out the window and derbies are slightly different."
Everton currently sit fourth in the Premier League, while Liverpool languish in 12th.