First Trust Correlations

CWAIX Fund

USD 20.47 0.02 0.1%

The current 90-days correlation between First Trust Managed and Rbc Emerging Markets is 0.33 (i.e., Weak 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

Weak diversification

The correlation between First Trust Managed and DJI is 0.39 (i.e., 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

0.86	VWITX	Vanguard Intermediate-ter	Pair Corr
0.65	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.88	AFTEX	Tax Exempt Bond	Pair Corr
0.9	AFTFX	Tax Exempt Bond	Pair Corr
0.94	TEBCX	Tax Exempt Bond	Pair Corr
0.86	TEAFX	Tax Exempt Bond	Pair Corr
0.88	TFEBX	Tax Exempt Bond	Pair Corr
0.88	FLTMX	Fidelity Intermediate	Pair Corr
0.91	GSMUX	Goldman Sachs Dynamic	Pair Corr
0.88	GSMIX	Goldman Sachs Dynamic	Pair Corr
0.62	FSMMX	Fs Multi Strategy	Pair Corr
0.69	BTMPX	Ishares Msci Eafe	Pair Corr
0.68	BTMKX	Blackrock International	Pair Corr
0.68	MDIIX	Blackrock Intern Index	Pair Corr
0.67	CLBAX	American Balanced	Pair Corr
0.7	MHESX	Mh Elite Select	Pair Corr
0.71	ISWSX	Voya Solution Income	Pair Corr
0.63	HD	Home Depot	Pair Corr
0.72	BA	Boeing Earnings Call Today	Pair Corr

Moving against First Mutual Fund

0.53	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.39	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.33	IBM	International Business Earnings Call Tomorrow	Pair Corr
0.31	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	AMTOX	SEDAX	FEMDX	FGWMX	TRMIX	REMVX
AMTOX		0.91	0.9	0.84	0.88	0.94	AMTOX
SEDAX	0.91		0.99	0.96	0.91	0.88	SEDAX
FEMDX	0.9	0.99		0.97	0.93	0.87	FEMDX
FGWMX	0.84	0.96	0.97		0.88	0.86	FGWMX
TRMIX	0.88	0.91	0.93	0.88		0.81	TRMIX
REMVX	0.94	0.88	0.87	0.86	0.81		REMVX
	AMTOX	SEDAX	FEMDX	FGWMX	TRMIX	REMVX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AMTOX	0.50	0.10	0.09	0.25	0.42	(0.58)	1.04	(1.00)	2.59
SEDAX	0.18	0.06	0.01	0.44	0.00	(0.25)	0.53	(0.33)	1.00
FEMDX	0.15	0.07	0.03	0.56	0.00	(0.21)	0.48	(0.24)	1.12
FGWMX	0.16	0.00	(0.14)	0.00	0.00	(0.22)	0.51	(0.22)	1.38
TRMIX	0.72	0.09	0.12	0.15	0.58	(0.87)	1.99	(1.40)	6.32
REMVX	0.57	0.19	0.22	1.11	0.21	(0.76)	1.24	(0.82)	2.94

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