First Investors Correlations

Mutual Funds . USA . 
Fund . First Investors Growth
FGINX Fund  USD 17.13  0.12  0.71%   
The correlation of First Investors 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 Investors Correlation With Market

Almost no diversification

The correlation between First Investors Growth and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Investors Growth 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 Investors Growth. 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 board of governors.

Moving together with First Mutual Fund

  0.91OASGX Optimum Small MidPairCorr
  0.98OASVX Optimum Small MidPairCorr
  0.66WASAX Ivy Asset StrategyPairCorr
  0.83WSGAX Ivy Small CapPairCorr
  0.88OCLVX Optimum Large CapPairCorr
  0.94OCLGX Optimum Large CapPairCorr
  0.94OCSGX Optimum Small MidPairCorr
  0.98OCSVX Optimum Small MidPairCorr
  0.82WSTAX Ivy Science AndPairCorr
  0.8DMO Western Asset MortgagePairCorr
  0.95WCEAX Ivy E EquityPairCorr
  0.93OILGX Optimum Large CapPairCorr
  0.95OILVX Optimum Large CapPairCorr
  0.94OISGX Optimum Small MidPairCorr

Moving against First Mutual Fund

  0.75OCFIX Optimum Fixed IncomePairCorr
  0.72DLHCX Delaware HealthcarePairCorr
  0.71DLHIX Delaware HealthcarePairCorr
  0.37FTNYX Delaware Tax FreePairCorr
  0.37FTORX First Investors TaxPairCorr
  0.36FTOTX First Investors TaxPairCorr
  0.34IMAAX Ivy Apollo MultiPairCorr
  0.33CXHYX Delaware National HighPairCorr
  0.75DPCFX Delaware DiversifiedPairCorr
  0.73OIFIX Optimum Fixed IncomePairCorr
  0.72DPFFX Delaware DiversifiedPairCorr
  0.71DLHAX Delaware HealthcarePairCorr
  0.71DLRHX Delaware HealthcarePairCorr
  0.44DMTFX Delaware Tax FreePairCorr
  0.33DMUSX Delaware Tax FreePairCorr
  0.33VCTFX Delaware Tax FreePairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
RNCOX
+ 0.71
TRSAX
RNCOX
+ 0.02
MGIAX
TRSAX
+ 0.0
TGIGX
MGIAX
+ 0.0
TGIGX
RNCOX
+ 0.0
TGIGX
  
High negative correlations   
MGIAX
- 0.49
TRSAX
RNCOX
- 0.0
TGIGX
MGIAX
- 0.0
TGIGX
TRSAX
- 0.0
TGIGX

Risk-Adjusted Indicators

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