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 Intal High Relative 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

Poor diversification

The correlation between First Trust Short and DJI is 0.79 (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, 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

  0.77FTMAX Franklin TempletonPairCorr
  0.87FDHCX First Trust ShortPairCorr
  0.87FDHAX First Trust ShortPairCorr
  0.8VARBX Vivaldi Merger ArbitragePairCorr
  0.79VARCX First Trust MergerPairCorr
  0.79VARAX Vivaldi Merger ArbitragePairCorr
  0.84FOVIX First Trust/confluencePairCorr
  0.75FOVCX First Trust/confluencePairCorr
  0.81FOVAX First Trust/confluencePairCorr
  0.82FPEIX First Trust PreferredPairCorr
  0.82FPEFX First Trust PreferredPairCorr
  0.79FPECX First Trust PreferredPairCorr
  0.85FPEAX First Trust PreferredPairCorr
  0.82FPERX First Trust PreferredPairCorr
  0.81OOSYX Oppenheimer SeniorPairCorr
  0.74OOSIX Oppenheimer SeniorPairCorr
  0.95LFRIX Floating RatePairCorr
  0.95LARCX Floating RatePairCorr
  0.94LFRRX Lord Abbett InvPairCorr
  0.95LFRFX Floating RatePairCorr
  0.94LRRRX Floating RatePairCorr
  0.95LRRTX Floating RatePairCorr
  0.95LRRVX Floating RatePairCorr
  0.95LRRKX Floating RatePairCorr
  0.79VSTSX Vanguard Total StockPairCorr
  0.79VSMPX Vanguard Total StockPairCorr
  0.79VITSX Vanguard Total StockPairCorr
  0.77VFFSX Vanguard 500 IndexPairCorr
  0.77VFIAX Vanguard 500 IndexPairCorr
  0.79VTSAX Vanguard Total StockPairCorr
  0.7VTSNX Vanguard Total InterPairCorr
  0.7VTISX Vanguard Total InterPairCorr
  0.7VTPSX Vanguard Total InterPairCorr
  0.77VINIX Vanguard InstitutionalPairCorr
  0.75PRESX T Rowe PricePairCorr
  0.74PRSVX T Rowe PricePairCorr
  0.68CVMRX Calvert 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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