First Trust Correlations

Mutual Funds USA . 
Fund . First Trust Short
The current 90-days correlation between First Trust Short and Global Gold Fund is -0.02 (i.e., Good 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

Poor diversification

The correlation between First Trust Short and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Short and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios. 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

  0.92FDHAX First Trust ShortPairCorr
  0.85VARAX Vivaldi Merger ArbitragePairCorr
  0.88FOVIX First Trust/confluencePairCorr
  0.85FOVCX First Trust/confluencePairCorr
  0.88FOVAX First Trust/confluencePairCorr
  0.88FPERX First Trust PreferredPairCorr
  0.73OOSYX Oppenheimer SeniorPairCorr
  0.79OOSIX Oppenheimer SeniorPairCorr
  0.87LFRIX Floating RatePairCorr
  0.96LARCX Floating RatePairCorr
  0.86LFRRX Lord Abbett InvPairCorr
  0.95LFRFX Floating RatePairCorr
  0.86LRRTX Floating RatePairCorr
  0.75NDCAX Nationwide InvestorPairCorr
  0.85PRVDX Versatile Bond PortfolioPairCorr
  0.82EVGRX Evaluator Growth RmsPairCorr
  0.72TRZZX T Rowe PricePairCorr
  0.79QMORX Aqr Large CapPairCorr
  0.85MGOSX Victory Munder MidPairCorr
  0.83SDVGX Sit Dividend GrowthPairCorr
  0.82RYVFX Royce Small CapPairCorr
  0.78ATGYX Aquila Three PeaksPairCorr
  0.87VSORX Victory Sycamore SmallPairCorr
  0.87AILLX Aristotle Funds SeriesPairCorr
  0.81BEMIX Brandes Emerging MarketsPairCorr
  0.82TEBRX Teberg FundPairCorr
  0.74CHY Calamos Convertible AndPairCorr
  0.89FESMX First Eagle SmidPairCorr
  0.67TRZLX T Rowe PricePairCorr
  0.82PCRIX CommodityrealreturnPairCorr
  0.78NSDVX North Star DividendPairCorr
  0.87PMDHX Small Midcap DividendPairCorr
  0.85THQ Tekla Healthcare OppPairCorr
  0.84BSBIX Baird Short TermPairCorr

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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