First Trust Correlations

Mutual Funds USA . 
Fund . First Trust Preferred
FPECX Fund  USD 20.56  0.03  0.15%   
The current 90-days correlation between First Trust Preferred and T Rowe Price is 0.4 (i.e., Very weak 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 weak diversification

The correlation between First Trust Preferred and DJI is 0.42 (i.e., Very weak 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 unemployment.

Moving together with First Mutual Fund

  0.85FTMAX Franklin TempletonPairCorr
  0.85FTMCX First Trust MultiPairCorr
  0.83FDHIX First Trust ShortPairCorr
  0.84FDHCX First Trust ShortPairCorr
  0.83FDHAX First Trust ShortPairCorr
  0.7VARBX Vivaldi Merger ArbitragePairCorr
  0.7VARCX First Trust MergerPairCorr
  0.7VARAX Vivaldi Merger ArbitragePairCorr
  0.79FOVIX First TrustconfluencePairCorr
  0.78FOVCX First TrustconfluencePairCorr
  0.79FOVAX First Trust/confluencePairCorr
  0.99FPEIX First Trust PreferredPairCorr
  0.99FPEFX First Trust PreferredPairCorr
  1.0FPERX First Trust PreferredPairCorr
  0.94CPXIX Cohen Steers PrfrdPairCorr
  0.95CPXAX Cohen Steers PreferdPairCorr
  0.96CPXCX Cohen Steers PrefrdPairCorr
  0.96CPRRX Cohen Steers PreferredPairCorr
  0.94CPXZX Cohen Steers PreferredPairCorr
  0.94CPXFX Cohen Steers PreferredPairCorr
  0.91NPSAX Nuveen Preferred SecPairCorr
  0.92NPSCX Nuveen Preferred SecPairCorr
  0.93PPSJX Preferred SecuritiesPairCorr
  0.78NHS Neuberger Berman HighPairCorr
  0.85SCYVX Ab Small CapPairCorr
  0.86STFAX State Street EquityPairCorr
  0.88BSPGX Ishares Sp 500PairCorr
  0.84ORDNX Oak Ridge DividendPairCorr
  0.78SRCMX California MunicipalPairCorr
  0.9SHYAX Simt High YieldPairCorr
  0.81VWSTX Vanguard Short TermPairCorr
  0.82FWCFX Fidelity WorldwidePairCorr
  0.84GGDPX Goldman Sachs InternPairCorr
  0.85VFIAX Vanguard 500 IndexPairCorr
  0.8CMMYX Columbia Amt FreePairCorr
  0.69FSAGX Gold Portfolio GoldPairCorr
  0.78PLMIX Pimco Emerging MarketsPairCorr
  0.77RSEFX Royce Special EquityPairCorr

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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