First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Preferred
FPEAX Fund  USD 20.33  0.04  0.20%   
The current 90-days correlation between First Trust Preferred and Saat Moderate Strategy is 0.17 (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 Preferred 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 Preferred 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 Preferred. 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 nation.

Moving together with First Mutual Fund

  0.94CWAAX First Trust ManagedPairCorr
  0.94CWAIX First Trust ManagedPairCorr
  0.69FTMAX Franklin TempletonPairCorr
  0.63FTMCX First Trust MultiPairCorr
  0.64VARBX Vivaldi Merger ArbitragePairCorr
  0.63VARAX Vivaldi Merger ArbitragePairCorr
  0.71FOVIX First Trust/confluencePairCorr
  0.7FOVCX First Trust/confluencePairCorr
  0.71FOVAX First Trust/confluencePairCorr
  1.0FPEIX First Trust PreferredPairCorr
  1.0FPEFX First Trust PreferredPairCorr
  1.0FPECX First Trust PreferredPairCorr
  1.0FPERX First Trust PreferredPairCorr
  0.96CPXIX Cohen Steers PrfrdPairCorr
  0.96CPXAX Cohen Steers PreferdPairCorr
  0.98CPXCX Cohen Steers PrefrdPairCorr
  0.96CPRRX Cohen Steers PreferredPairCorr
  0.96CPXZX Cohen Steers PreferredPairCorr
  0.96CPXFX Cohen Steers PreferredPairCorr
  0.99NPSAX Nuveen Preferred SecPairCorr
  0.99NPSCX Nuveen Preferred SecPairCorr
  0.98PPSJX Preferred SecuritiesPairCorr
  0.91LSHEX Kinetics Spin OffPairCorr
  0.91EKWDX Wells Fargo AdvantagePairCorr
  0.93OEPIX Oil Equipment ServicesPairCorr
  0.93OEPSX Oil Equipment ServicesPairCorr
  0.81NAVFX Sector RotationPairCorr
  0.92LAMCX Lord Abbett CalibratedPairCorr
  0.93CDOYX Columbia DividendPairCorr
  0.64PHLAX Prudential HealthPairCorr
  0.94OACIX Oppenhemier CnsrvtvPairCorr
  0.7VIPSX Vanguard Inflation-protecPairCorr
  0.8FDSSX Fidelity Stock SelectorPairCorr
  0.95GBFAX Emerging MarketsPairCorr

Moving against First Mutual Fund

  0.83CISGX Touchstone Sands CapitalPairCorr

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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