First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Preferred
FPEFX Fund  USD 20.68  0.01  0.05%   
The current 90-days correlation between First Trust Preferred and Dunham Large Cap is 0.25 (i.e., Modest 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 0.75 (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 price.

Moving together with First Mutual Fund

  0.83CPXIX Cohen Steers PrfrdPairCorr
  0.82CPXAX Cohen Steers PreferdPairCorr
  0.84CPXCX Cohen Steers PrefrdPairCorr
  0.86CPRRX Cohen Steers PreferredPairCorr
  0.84CPXZX Cohen Steers PreferredPairCorr
  0.84CPXFX Cohen Steers PreferredPairCorr
  0.73NPSAX Nuveen Preferred SecPairCorr
  0.74NPSCX Nuveen Preferred SecPairCorr
  0.83PPSJX Preferred SecuritiesPairCorr
  0.77PDI Pimco Dynamic IncomePairCorr
  0.69TAHYX Pioneer High YieldPairCorr
  0.71RYBAX Basic MaterialsPairCorr
  0.7DSIBX Dreyfus Short IntermPairCorr
  0.7SEBLX Sentinel BalancedPairCorr
  0.73RFDTX American Funds 2025PairCorr
  0.77FAFWX American Funds RetirementPairCorr
  0.81AVK Advent Claymore ConvPairCorr
  0.8PGLRX Putnam Global EquityPairCorr
  0.77HWHAX Hotchkis Wiley HighPairCorr
  0.67CFNLX National TaxPairCorr
  0.73CDDYX Columbia Dividend IncomePairCorr
  0.64DEVCX Delaware Small CapPairCorr
  0.79BASMX Blackrock Total StockPairCorr
  0.74DHSIX Diamond Hill SmallPairCorr
  0.69SRMCX Deutsche Short TermPairCorr
  0.75ABCIX American BeaconPairCorr

Moving against First Mutual Fund

  0.8UIPIX Ultrashort Mid CapPairCorr
  0.62CESGX Coho Relative ValuePairCorr
  0.59USPSX Profunds UltrashortPairCorr
  0.58USPIX Profunds UltrashortPairCorr
  0.49TCSUX Cleartrack 2020 ClassPairCorr
  0.46TCTGX Transamerica CleartrackPairCorr
  0.46TDKTX Cleartrack 2015 ClassPairCorr
  0.46TCTJX Transamerica CleartrackPairCorr

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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