First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Managed
CWAIX Fund  USD 20.48  0.01  0.05%   
The current 90-days correlation between First Trust Managed and Bts Enhanced Equity is 0.04 (i.e., Significant diversification). The correlation of First Trust 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 Trust Correlation With Market

Very weak diversification

The correlation between First Trust Managed and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Managed and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in First Trust Managed. 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 gross domestic product.

Moving together with First Mutual Fund

  0.69FOVCX First Trust/confluencePairCorr
  0.68FPEIX First Trust PreferredPairCorr
  0.68FPEFX First Trust PreferredPairCorr
  0.7FPECX First Trust PreferredPairCorr
  0.72FPEAX First Trust PreferredPairCorr
  0.67FPERX First Trust PreferredPairCorr
  0.86VWITX Vanguard Intermediate-terPairCorr
  0.84VWIUX Vanguard Intermediate-terPairCorr
  0.9AFTEX Tax Exempt BondPairCorr
  0.87AFTFX Tax Exempt BondPairCorr
  0.97TEBCX Tax Exempt BondPairCorr
  0.84TEAFX Tax Exempt BondPairCorr
  0.86TFEBX Tax Exempt BondPairCorr
  0.87FLTMX Fidelity IntermediatePairCorr
  0.9GSMUX Goldman Sachs DynamicPairCorr
  0.91GSMIX Goldman Sachs DynamicPairCorr
  0.73NHS Neuberger Berman HighPairCorr
  0.84TRNZX T Rowe PricePairCorr
  0.73RIEAX Rbc International EquityPairCorr
  0.72CPXCX Cohen Steers PrefrdPairCorr
  0.68JSPGX Janus Global AllocationPairCorr
  0.65NBHIX Neuberger Berman EquityPairCorr
  0.77FIQGX Fidelity Emerging MarketsPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between First Mutual Fund performing well and First Trust 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 Trust'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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