First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Short
FDHIX Fund  USD 17.97  0.03  0.17%   
The current 90-days correlation between First Trust Short and Ab Municipal Bond is 0.1 (i.e., Average 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 poor diversification

The correlation between First Trust Short and DJI is 0.89 (i.e., Very 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, which includes a position in First Trust Short. 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

  0.87FTMAX Franklin TempletonPairCorr
  0.89FTMCX First Trust MultiPairCorr
  0.97FDHCX First Trust ShortPairCorr
  0.97FDHAX First Trust ShortPairCorr
  0.84VARBX Vivaldi Merger ArbitragePairCorr
  0.83VARCX First Trust MergerPairCorr
  0.82VARAX Vivaldi Merger ArbitragePairCorr
  0.87FOVIX First Trust/confluencePairCorr
  0.84FOVCX First Trust/confluencePairCorr
  0.87FOVAX First Trust/confluencePairCorr
  0.86FPEIX First Trust PreferredPairCorr
  0.86FPEFX First Trust PreferredPairCorr
  0.8FPECX First Trust PreferredPairCorr
  0.81FPEAX First Trust PreferredPairCorr
  0.85FPERX First Trust PreferredPairCorr
  0.84OOSYX Oppenheimer SeniorPairCorr
  0.85OOSIX Oppenheimer SeniorPairCorr
  0.96LFRIX Floating RatePairCorr
  0.96LARCX Floating RatePairCorr
  0.96LFRRX Lord Abbett InvPairCorr
  0.96LFRFX Floating RatePairCorr
  0.96LRRRX Floating RatePairCorr
  0.96LRRTX Floating RatePairCorr
  0.96LRRVX Floating RatePairCorr
  0.96LRRKX Floating RatePairCorr
  0.81VSTSX Vanguard Total StockPairCorr
  0.85VSMPX Vanguard Total StockPairCorr
  0.85VITSX Vanguard Total StockPairCorr
  0.79VFFSX Vanguard 500 IndexPairCorr
  0.82VFIAX Vanguard 500 IndexPairCorr
  0.81VTSAX Vanguard Total StockPairCorr
  0.79VTSNX Vanguard Total Inter Potential GrowthPairCorr
  0.75VTISX Vanguard Total Inter Potential GrowthPairCorr
  0.79VTPSX Vanguard Total Inter Potential GrowthPairCorr
  0.82VINIX Vanguard InstitutionalPairCorr
  0.84PRESX T Rowe PricePairCorr
  0.86PRSVX T Rowe PricePairCorr
  0.71PYCLX Payden CaliforniaPairCorr

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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